If the world didn’t change business would be easy. Nothing ever stays the same and certainly not in today’s business environment. The need for speed and adaptation has never been more pressing but still most medium and large companies are very slow to adapt to changing business conditions. Most Executives get this and are exploring solutions that bring agility and flexibility into their organizations.
Meanwhile, today’s corporations are built to have a single view of their customers. Segmented data resides in individual departments and is not easily federated across the organization. There are too many unconnected systems, silo databases and laborious processes with countless parochial interests and needs. This predicament slows decision making and project execution while rarely providing management with lessons learned to course correct in the future.
In general, when Executives want performance figures on each of the lines of business it’s typically done haphazardly or by asking for specific reports which take weeks to create. This is analogous to the 18th century naval voyages where discovery was taking place but expedition reports didn’t come back for months. In today’s economic environment where acquiring, servicing and retaining customers is paramount, you are at a competitive disadvantage if you don’t have a real-time federated view of the enterprise.