InetSoft Webinar: Using BI as a Competitive Differentiator
Below is the continuation of the transcript of a Webinar hosted by InetSoft on the topic of Business Intelligence Trends and InetSoft Innovations. The presenter is Mark Flaherty, CMO at InetSoft.
Mark Flaherty (MF): Organizations are now using information and business intelligence as a key competitive differentiator, because everything else in our world has already become or definitely is on the way to becoming a commodity. So it's becoming harder and harder to compete on the quality or the features of products and services. So enterprises more and more are competing on information.
If two competitive enterprises are selling exactly the same product or promoting the same service, but one of the enterprises has a better insight into what its customers are doing, how they are behaving, what they are buying, what they like, what they dislike, then which enterprise do you think is going to win in this environment?
Those are the kinds of the major trends that we see in the market. The other side of the story is that until we do reach, as I call it, nirvana of a single enterprise software and application stack where you would be running all of your applications
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This would include your ERP application, your CRM applications, your finance applications, trading, risk, supply chain, your databases, your operating system software, et cetera, on a single software stack - which I don’t think is something that is going to happen in the near future - business intelligence will remain the glue that will bring it altogether.
We do see an ongoing without any kind of a let up, even in the current tough economic conditions, the increasing adoption and interest in our business intelligence application. And even over the last couple of years, I am struggling to think of even a single enterprise, CIO or CTO or chief architect, who has told me that they are decreasing or diminishing an importance of their business intelligence effort.
The market definitely continues to expand. But what’s interesting is that all that criticality, all that mission criticality, because as I said, the business intelligence is now mission critical, not just a nice-to-have application and environment, that has really outpaced the complexity of traditional old-fashioned business intelligence applications. And as a result, we do have this very interesting opportunity that exists in the market, and I know we will spend more time later today talking about some the next-generation technologies and some of the best practices that enterprises can use to close that gap and to address that opportunity.
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