Discovering previously unseen patterns is a key part of what most people would say is what intelligence is all about...
...and what surely every FD would like to be able to do as a service for their company.
How can you know what it is you don't know?
An intelligent system will show you patterns of information that are simply impossible to discover with fragmented systems.
What might be hidden? Profitability sink-holes, surprising patterns in types of project, insights about types of client, unexpected bottlenecks, or unanticipated trends.
Kent Valentine, MD of Draw / Focus, told us this:
“Getting Synergist gave us a surprise benefit: it shows us new ways to look at our data, uncovering trends, patterns and opportunities we had no visibility of before.”
“One of our industry’s biggest challenges is that it’s easy to jump to conclusions and make assumptions instead of rigorously challenging what we do and don’t know."
“Understanding that you don’t know something is sometimes more helpful than having something confirmed, as it keeps you on your toes and helps you mitigate blindspots."
Phil Robinson, CEO of ClickThrough Marketing, said:
“We see patterns in the over-servicing now. For example, by client type. Very useful.
Sara Blannin, Finance Director at ECUS told us:
“Patterns emerge that we couldn’t see before. For example we didn’t have the visibility that some projects, or working for certain clients, always resulted in a loss. Knowing that helps our decision making, our pricing, our prioritising.
“We are now able to be more selective over which projects to take on, which is especially helpful when we’re busy. We can ensure that we focus on the projects that are both productive and profitable. You can’t run 250 projects by gut feel alone."
Not all patterns are good news
How valuable would it be for you to know precisely which areas of your business are loss-making?
Hidden patterns of over-servicing by type of client or project gives you profoundly useful information when prioritising which projects to go for, as these two senior managers explain.
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