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Strategic BI is aimed at assisting managers make informed strategic decisions and set business targets. Processing data from various sources and turning it into insights, strategic BI provides managers with a clear and comprehensive picture of their business environment and the capability to analyze in depth the historic circumstances that lead to the current state.
With strategic BI you can answer questions such as:
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Who are my most profitable/ loyal customers? What are their preferences? |
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What are my least profitable products? What caused them to be unprofitable? |
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How do my suplliers compare in performance during the past year? |
Strategic BI allows to ask “What, How, and When” questions using features such as dashboards, metrics, and SMART KPIs (Specific, Measurable, Achievable, Relevant, and Time-based). Combined with data mining capabilities, strategic BI can also answer the most important question of all: “Why?” However, in order to make truly informed decisions and set strategic goals that are achievable, further capabilities are required. Such capabilities include, simulation capabilities, also known as “What-If analysis”, ability to understand the current performance at all times, and the ability to project and forecast future performance. Most organizations find that no single strategic BI tool combines all these capabilities, and so managers and business analysts resort to working with multiple tools, some with overlapping functionality, and sometimes based on different data sets. In other cases, they find themselves with no alternative than to base their decision making process on spreadsheets, typically ad-hoc, and of questionable reliability.
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Sterna Business Positioning System™ (BPS) consolidates capabilities of strategic BI, operational BI, and predictive analytics into a single business analytics platform, driving actionable decision making through the lifecycle of business activity:
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Capability to perform detailed analysis of historical events and trends, leading to the current state, including full drill-down to any desired time range and resolution |
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Feed-forward of these insights to generate business targets |
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Analysis of potential deviations from these targets and the financial impacts of such deviations. |
Furthermore, Sterna BPS unified business analytics platform provides the following capabilities:
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Built-in connectivity to virtually any data source, including operational systems. |
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Real-time central visibility, eliminating the “user-centric BI” paradigm, described above. |
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Alerting of both actual and potential revenue loss, utilizing the Money Surface™. |
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Delivery of actionable insights, through a remarkably intuitive user interface |
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Agility to adapt within days to changes in the business, due to Sterna BPS unparalleled flexibility | Comparing current and historic actual performance with their respective targets enables ongoing monitoring of deviations from target performance. Providing detailed analysis to the links between these deviations and their financial impact enables actionable strategic decision making that has a significant impact on the bottom line. |
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