Business Intelligence
Turning data into actionable insights
Developing and implementing effective indicators in organizations is crucial for tracking performance, driving improvements, and achieving strategic objectives.
Business intelligence (BI) is all about using tools and methods to gather, analyze, and present business data in a clear way. The main goal is to help companies make smarter decisions by giving them accurate and up-to-date information. Most information can be classified as either tangible or intangible data.
Tangible data
refers to data that is quantifiable, often numerical, and concrete (e.g., sales figures, inventory levels, financial statements, production output, and employee attendance records). This type of data is easy to collect, analyze, and use for statistical and trend analysis and requires very little specialized knowledge.
Intangible data
refers to data that is systemic and context dependent (e.g., customer feedback, brand reputation, employee satisfaction, corporate culture, and intellectual property value). This type of data requires expertise in data collection, measurement and analysis, and interdisciplinary and scientific knowledge to derive meaningful insights.
Incorporating intangible data into business strategy is like unlocking hidden treasures within the company. It reveals new opportunities for growth and success that might otherwise go unnoticed.
We specialize in enhancing your BI ambitions by focusing on behavioural and operational intangibles, turning measured insights into concrete results.
Competitive Advantage
Understanding and leveraging intangible assets can create a significant competitive advantage. For example, a strong brand reputation or highly skilled workforce can differentiate an SME from its competitors.
Valuation and Investment
Accurately measuring intangible assets helps in the valuation of the business. This can be particularly beneficial when seeking investment, as investors are often interested in the full scope of an organization’s value, beyond just physical assets.
Customer Relationships
Intangible data about customer satisfaction, loyalty, and engagement can guide strategies to improve customer relationships. This, in turn, can lead to increased customer retention and lifetime value.
Market Positioning
Understanding intangible assets like brand equity and customer perception can help SMEs position themselves more effectively in the market. This can lead to improved market share and business growth.
Our Core Areas of Expertise
We support our clients with their intangible data strategy during two key phases
Data Collection
Intangible data can partially be extracted from available data sources and surveys (e.g., customer satisfaction), but are more useful and powerful when they are specifically developed for the organization. Intangible data are also more valid when they are a mix of quantitative and qualitative data, measured using appropriate methods. Finally, the actionable insights are most effective when they are focused on concrete outcomes and linked to key strategic ambitions. The right data, measured with the most appropriate methods, for the best decision-making, is our goal.
Actionable Insights
The insights derived from your collected data should be used to make informed decisions. Intangible data, especially concerning clients, human capital, leadership, culture, stakeholders, and health and safety, need to be expertly combined with your tangible data and brought into context. We support your multifactorial understanding and interpretation of intangible data and ensure that actions are effective and efficient by avoiding common misconceptions.
Navigating complexity with Intangible Data
By harnessing intangible data through tailor-made IT tools, custom indicators, and targeted surveys, senior leaders can navigate complexity with confidence.
Tailor-Made Tools
Our solutions are designed to integrate seamlessly with your existing systems, enabling the collection and analysis of intangible data. By providing real-time insights into critical areas, we help senior leaders make strategic decisions that foster organizational growth and resilience.
Custom Indicators
Unique performance indicators tailored to your specific goals can reveal insights into less tangible aspects of your business. Especially leading indicators allow leaders to monitor and respond to changes, ensuring that the organization remains adaptable and competitive.
Targeted Surveys
Precision-designed surveys capture valuable feedback on individual, team, and organizational development and maturity. These in turn enable leaders to develop strategies that mitigate risks and enhance overall performance by focusing on key future drivers rather than on past challenges.
Business Intelligence FAQs
Why do we call some data “intangible”?
This term refers to information that does not have a physical form you can touch. Unlike tangible assets (e.g., machinery or buildings), intangible assets include things like human capital, digital information, intellectual property, and brand reputation.
Can intangible data be measured?
Intangible data can be measured and made visible in context. Data regarding performance, quality, leadership skills, collaboration, and client satisfaction all have concrete and measurable markers, but their quantification depends on the type of product, service, and strategy.
Why should I consider adding intangible data to my business intelligence strategy?
The value of intangible assets can be substantial and often surpasses the value of tangible assets. They are crucial for valuation and decision-making in the modern, digital economy, where most organizations provide services with few tangible and many intangible assets.