Why is it that when we say (in Hebrew translation) “business intelligence”, we hurt our professional image?
1. The Hebrew language is a wonderful language, that’s true, but we sometimes tend to use language to include things.
2. The problem begins with the generalizations of terms that also have meaning outside of Israel, and especially terms whose origin is not Hebrew and therefore they have been translated. The importance of translating a professional term, in English for example, into Hebrew is critical. Often, the first translation of a particular term, especially when published on platforms with high exposure, is the translation that takes root over time, even if it is misleading.
3. My profession relates to Corporate Intelligence in an organization (commercial or social). every time I come across the term “business intelligence” I fully understand the professional meaning of the term. But, once you continue reading or talking with those who use this term in Hebrew, in most cases the use is wrong and misleading. Fortunately, we do not live only in our little bubble Israel with our Hebrew. Sure, when Hebrew-speaking Israeli businessmen mention in their conversation the Hebrew translation of business intelligence, they probably understand the general concept of it, but not the real professional essence.
4. The profession of intelligence in the organization is significant, so if one doesn’t use the proper terms, it’s an indicator of a lack of knowledge in the field, and certainly a lack of seriousness. This is especially critical when Israeli companies or Businesspeople are connected or involved in the activities of foreign companies. When you use the term “business intelligence” you directly address a specific element in the intelligence mix that organizations have. But when an Israeli businessman talks about business intelligence and then he mentions he collects information about his competitors, his interlocutor, obviously another businessman, but who doesn’t speak Hebrew, immediately understands the ignorance of his interlocutor. Sadly, after the conversation, there is little chance that the business relationship will continue or that the interlocutor will appreciate you as he did before the conversation begins. Harsh words, but it’s the truth.
5. As with classic military intelligence, intelligence in the organization also has a mix. The components of intelligence in the organization, when working together and harmoniously, constitute the intelligence unit of the organization and fulfill the role of intelligence in the organization.
6. This article is not a rebuke article, but an article in which it is important for me to clarify the professional terms related to the intelligence mix in the organization, at 10,000 feet, to try to influence, even one Israeli businessman, to use the language correctly to be able to establish meaningful contacts with colleagues abroad.
7. The CEO and the team of senior executives have formulated the organization’s vision and goals. They need to figure out what they’re likely to survive in this market for more than 5 minutes. That is, with what positive strength they enter the market, one that will keep them there and give them an advantage over others, that is where the first component of intelligence in the organization appears: Business Intelligence.
8. Business Intelligence — refers to the data that the business generates on its own, the DB of the business. The data is generated directly from the business activity. This information will sometimes be structured, such as a volume of traffic log entries on the company’s website, and usually not structured such as executive position papers, streamlining offers, emails, and messages of employees and customers, and more. BI practitioners find patterns and generate insights to get to know your business in-depth and understand how you can optimize processes, streamline, and reduce costs, and compete better. The main product of BI is a report handled to top management. It consists of a significant input in the SWOT process which is necessary before entering new markets and ecosystems.
9. SWOT– an organizational think process, led by senior management in cooperation with employees. It reflects the strengths and weaknesses of the company, as well as locating opportunities and threats/challenges in the external environment and bringing them together. The goal is to go to market with “power” and understanding who we are, and why, in our opinion, we can compete with other companies.
10. Now, you have a vision and a purpose and a work plan, and you did your SWOT analysis to understand why you think you can enter the market and operate in it competitively, but that’s not enough, because what we think is our advantage, notice the critical word “in our opinion,” is not necessarily what will allow us to operate in the market for more than 10 minutes.
11. To get on the right foot into a new market or an old market that has been traumatized, such as the renewable markets after the recovery from the Coronavirus, we need to understand everything outside our bubble, hence adding to the intelligence mix two very important components: Competitive Intelligence & Market Intelligence. Some companies unite the two components into competitive intelligence.
12. Market intelligence relates to everything we want to know about the market and the ecosystem in which we operate. “Want?” not! Because what we’re asking intelligence is information about what we need. We want it all, but you can’t get it all. Here you expect intelligence to provide you with information about segments of existing customers and prospects, defining customer persona, market consumption trends, what affects the demand curve and what it looks like, market technology, market regulation, market prices, and what characterizes the segments of market prices, relevant marketing channels, relevant supply channels, financial structure of the market, typical supply chain structure, Including extensive research and regular monitoring of your supply chain, and more… The main product of this process is called Market Research.
13. Unfortunately, this term has had a slightly negative image in recent years because many are charlatans who claim to be conducting extensive market studies copying/pasting materials from the internet or obtaining studies that have already been done in less ethnic ways. It is the “brains” of the analyst who analyzes what is in front of his eyes, creating the relevant intelligence picture and the operational business recommendations that are supposed to help the CEO make decisions. In the growth process of each company there are points in time when it wants or really needs to order market research: in advanced rounds of financing, before entering a new market or launching a new product, mergers/acquisitions, strategic partnership, and more.
14. Competitive intelligence — refers to everything that constitutes direct and indirect competition to your company. The direct competitors — their strategy, their leadership, their field operations, their product line, budgets, and more…. And you’ll also want to monitor your indirect competitors, competitors who sell replacement products, and competitors who sell complementary products. Why are they competing? Because tomorrow, in an hour, they can decide to change strategy to enter your market as well and offer a solution like your product and to your customer segment.
15. I’ve already said that the practice of intelligence in companies and business organizations is a profession, one that has prestige, experts, and a lot of competition. Likened to a luxury car that stands desolate because it doesn’t have a key. Our job, as intelligence professionals, is to know all the relevant analysis models. There are “new” analysis models of charlatans based on sustainable “old models” that are the basis for collection and analysis. For each business situation, there are at least 2 possible models for analyzing the information and hence direct the methods of collection. This addresses the professional responsibility of the intelligence practitioners in the organization, and here are the differences between professional schools, professional practice levels, and of course different price levels depending on the quality of the product delivered at the end.
16. After formulating the organizational compass (vision, etc..), and identifying your competitive advantages to compete in the market and understand the ecosystem you are in, we mention the last element in the intelligence mix in the organization: Knowledge Management. The information in the organization, most of it unstructured, is an asset for the organization. Many companies pay minimal attention to how the information they have is stored. Thus, a lot of information stored in excel sheets on different servers is, unfortunately, the most common today.
17. Knowledge management — a thinking process and strategic planning in an organization that is ultimately reflected in a technological tool. The process until the tool is created or acquired is essentially affiliated with the corporate intelligence concept. How to create a situation in which organizational information is best, most accessible. How can we use our information to creates strategic insights, mirror our activities, create organizational memory for future generations, build training and locate needs, and gaps? CI, MI, and BI aggregated to a united repository and will lead to synergy and growing business insights. Thus, we need the KM component as an integral part of the overall intelligence approach of the organization’s management.
18. To conclude, a company should always consider the balance between its internal capabilities, the competitive advantage with which it is marketed, and what happens in the business environment in which it operates. Whether competitors have changed, market conditions differed, there may be a problem with the strength of your supply chain, etc. Maintaining this balance lowers the level of risk at which the organization operates and allows managers to make informed decisions that are not based solely on instinct. The final product of an entire intelligence process is the most significant input there is. It has the power to update the organization’s mission and goals. Updated designation and goals will drive the innovation wheel of the organization and help it stay in the race.
19. For more questions, advice, and other intelligence projects, contact us at webintelligency@gmail.com
