Archive for Business Intelligence

April 6 th

2

BI’s Place in Sustainability Reporting

Posted by: Terri Rylander | Comments (2)

As some of you already know, I’m quite interested in the linkage between corporate sustainability, also known as corporate social responsibility or CSR, and business intelligence. There’s a very logical place for BI teams, processes, and technologies in CSR.

CSR wraps the traditional, profit-making business efforts in ways that reduce their impact on both the environment and society. This is often referred to as the triple-bottom line-balancing financial, social, and environmental ROI.

Each company’s sustainability goals will be unique. Manufacturers may look at reducing fuel consumption through optimizing shipping routes. Hoteliers may look both at recycling guest waste and hiring from the local community. Builders may look to use more renewable building materials.

The Global Reporting Initiative (GRI) was formed to create a common framework for companies to report voluntary reporting of economic, environmental, and social activities. It doesn’t specify what to report, but rather how to report. The GRI has adopted strategies to promote standards and provide assurance to stakeholders. These include consultation panels, internal audits, and independent reviews.

Though CSR metrics are not always easy to measure, companies should make sure the metrics they gather are both suitable and available. The metrics should be objective, relevant, complete, and consistently measurable.

Today, many large, well-known companies are producing annual corporate sustainability reports. These are actually done in a very similar fashion to the “annual report.” Companies use these reports to inform shareholders and communicate with the public to:

  • Demonstrate their interest in the environment, their employees, and the communities they serve
  • Show their commitment to human rights and fair labor policies
  • Promote transparency with employees, shareholders, government regulators, and NGOs
  • Enhance or protect their brand or reputation
  • To grow shareholder value

Some of the companies reporting include Nike, PepsiCo, McDonald’s, AT&T and Intel. There are even more in the GRI featured report list. Take a look at some of these reports. I think you’ll find them fascinating and you’ll see the depth in which they’ve been able to establish metrics for CSR.

As a BI practitioner, consultant, or vendor, it’s time to start planning how you can support CSR. Are you being given a seat at the table? Can you help the CSR team think differently about gathering data for hard-to-measure metrics? Perhaps a CSR scorecard is in order to provide ongoing visibility.

More companies are realizing they can no longer selfishly think only of their profits. Stakeholders are beginning to demand they reduce their impact on the environment and contribute to social justice both with employees and the community.

What will be your role?

Categories : BI
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March 16 th

0

Futuristic BI: Are We Smart Enough?

Posted by: Terri Rylander | Comments (0)

Came across this stunning TED video that demonstrates scientific data in both 3-D and audio. It’s not only functional but beautiful as well. Increasing the way we sense, perceive, and interact with data is brilliant. Is this the future of BI?

Having watched the video, I find a renewed appreciation for the super intelligent minds out there. The video showed just how complex data can be and I wonder if we can do something similar with our BI tools one day. Do we need super intelligence to understand our data?

Categories : BI
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February 9 th

2

Embracing Socialytics

Posted by: Terri Rylander | Comments (2)

Socialytics. I love this word – it perfectly captures what it is — analysis of social media. I’ve only heard it used a couple times but when Michael Fauscette of IDC wrote his post, Socialytics, I decided to investigate it further.

I wondered who plays in this space today. Though there aren’t many, there are more and more social media analysis vendors with solid offerings. In his e-book, The Social Web Analytics eBook 2008, author Phil Sheldrake details 16 of them that responded to his request for interviews.

I then wanted to know more about the types of analytics that might be looked at. I liked the way David Bakken broke down social media data in his post, Social Networking, As Seen by the Economist. He looks at these three dimensions as a way to stratify the levels:

Content: Just what is it that is being talked about. Could be brand or product mentions, could be sentiment. What are people saying?

Source: Who is generating the content? How does the content vary by characteristics of the source. He mentions the difficulty of knowing more about the “who” and suggests companies like Facebook might sell that information as a new source of revenue.

Connectivity: Who is talking to whom? This is probably most about influence and the value of networks — something that has proven very difficult to measure prior to social networking.

(…some time passed, and then…..)

I had this thought:  With many of the social networking companies looking for a viable way to make a sustainable income, why not sell socialytics from their platform to interested parties? They hold the valuable key – the data.

BI vendors would do well to partner with social media analysis companies and call on the likes of Twitter, LinkedIn, and Facebook to provide this new service as a joint partnership. Not only will all these social conversations create a wealth of data to be managed, they will also require a powerful analysis tool and a presentation layer that is easy to use and understand — something BI vendors are masters at.

Note to BI vendors – socialytics is here. Are you ready?

P.S. As I finish this post I found one vendor already moving forward. Ron Swift from Teradata just put out a timely post, Social Media Marketers Should Get Ahead of the Curve, where he talks about Teradata’s partnership with social media analysis vendors and creating integrated web intelligence (IWI) that combines socialytics with data from the data warehouse creating extremely valuable insight.

Categories : BI, Social Media
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