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Is there a difference between Business Intelligence and Business Activity Monitoring?

The least intelligent business decisions would be to dismiss change. We can’t force today’s competitive environment not to be hot on our heels all the time, so we must accept change as a constant.

 Business Intelligence (BI) has been adapting since day one. BI’s evolution grew from being a simple support system for a single manager, to becoming the master of data mining, analytical processing,  querying and reporting. It’s evolution also introduced interactive online platforms with high security that large groups of decision-makers can access at any time.

 In between this evolution, around the early 2000’s, Gartner Inc. helped accelerate BI’s growth to fast forward by introducing Business Activity Monitoring (BAM).

   

How did BAM improve BI?

  It brought attention to the fact that if decision-makers have a powerful flow of accurate information, scheduled appropriately, they can respond instantly and proactively to fast-moving events.

  How did BAM improve Business Process Management (BPM)?

 BPM is heavily focused on adapting to change, and on using change as an opportunity to prosper. Its methodologies allow upper and operational managers to turn sudden changes into effective, efficient  business opportunities.

 So basically, Business Intelligence has adopted the objectives and strategies of Business Activity Monitoring, so to fulfil the needs of companies running on a Business Process Management structure. A  perfect example of 3 movements empowering each other to accept change together, and growing together too.

 Find out more about BI tools in South Africa

So, what is the 4th element of change?

BI will continue finding innovative solutions for new problems, but change is necessary on a human-level too. Company leaders must also introduce their employees to new project management principles that embrace change.

Let’s take the Agile project management approach, as a good example. This management style opens the gates to proper team self-management and creates space for business leaders to overlook even the finest details of a project throughout its lifecycle.

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Garvy Vaynerchuck American: Entrepreneur, four-time New York Times bestselling author, speaker and internationally recognized internet personality.

What are the basic components of Agile Project Management?

  • It follows a realistic timeframe for tasks to be completed and can adapt to real-time changes
  • It promotes the use of interactive platforms so that communication flow between team members runs as a constant
  • It makes provisions for strategy modifications
  • It collects early and empirical feedback throughout every step of the project

Find out more about Agile Methodologies and employee training.