What is business engineering?

Compared to only a few years back, most of today’s businesses have access to an extreme amount of business data. Utilizing free technology like Google Analytics, online survey software like SurveyMonkey and misc trend software, just about “any” company can receive business intelligence that only a few years back was reserved for the fortunate few. This revolution in information technology has crowned the term “big data”. The access to the data is no longer an issue, the challenge is how to efficiently utilize the data. The difference between traditional business management and business engineering, is how you incorporate technology and data in you business decissions. The majority of research on traditional business management was published before the technology revolution (and the Internet). Where academics earlier had to make decisions based on assumtions about the market, we now make decisions based on input from the market. Business engineering is the scientific approach to business management. It incorporates all the different areas and functions of the business, and aims to build management information systems that improves the performance of the company.

Why you should listen

The challenge with business analytics is that it grows proportionally more complex with the amount of data. This means that the advantage of being a big corporation has suddenly turned into a disadvantage. Intelligence simply can’t be processed and distributed to the different business functions fast enough making the huge organisations slower to respond to the wants and needs of the market. This creates an opportunity for the small and medium businesses that we haven’t seen since the industrial revolution. if you are leading a start-up this is fantastic news. If you are managing your company the same way you did 5 years ago, the alarm bells should be accompanied by the red flashing light in your office right now.

Lighthouse 8, Business Engineering

Steven Johnson shows us how radical innovation is accessible to everyone who know how to cultivate it. Where Good Ideas Come From is essential reading for anyone who wants to know how to come up with tomorrow’s great ideas.