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Let translation uncover the unknown and act accordingly
If we could first know where we are and whither we are tending, we could better judge what to do and how to do it. – Abraham Lincoln, 1858
[Download the Show Notes for Episode 5.]
Let Business Intelligence via translation show your company’s way forward.
Businesses operate amid accelerating market forces in the Knowledge Economy and often have no warning before chaos strikes without any recovery period afterward.
Indeed, to catch a company’s rival unaware is a desirable feat.
Strategic surprise decreases risks and costs and increases success and profitability of the endeavor.
Failure to predict much less anticipate an acute and immediate sneak market move undermines a company’s vital core interests.
Stop!
Use Business Intelligence (BI) via translation to keep your company ahead of rivals in two ways by 1) expanding the information screen, and 2) creating “blue ocean” market space.
What is Business Intelligence
Business Intelligence has been described as “getting the right information to the right people at the right time” by Maria Bogza of Bucharest Academy of Economics.
BI centers upon timely decision-making so a firm can above all better serve its customers and plot innovative market moves and avoid strategic surprise.
Information is culled across numerous topics relatable to your company’s Unique Sales Position (USP).
[Read/Listen to the previous article: 6 Advantages of Professional Translation]
The resultant analyzed data is shared between different areas of the company.
BI is forward-looking. Compiled data has to be harnessed for impactful future market moves.
Your competitive rival is not the main focus, however.
Instead, companies use BI to expand their offerings where competitors do not exist – the so-called blue ocean market spaces.
Business Intelligence and Translation
Business Intelligence with translation is the key to ensure complete situational awareness and business survivability.
Business Intelligence is bandied about in commercial literature, but one key element is not considered – translation.
As mentioned above, mixing translation with BI expands the information screen, and uncovers blue ocean market space where rivals do not operate.
While English dominates global business, key information for companies operating abroad exists in other languages, such as Spanish and Portuguese, for example, in the Latin American market.
Nuggets of data in the original language of the local market are indispensable to increase inputs into the BI information screen.
Therefore, global firms can profit from establishing a partnership with a certified translator to convert reports or firsthand accounts from Spanish or Portuguese to English, staying with our example.
Situational market insights gleaned from translated material could possibly help discover the so-called blue ocean market space.
Firms can decide to be the disruptor, not the disrupted, and implement a business strategy bolstered by Business Intelligence via translation.
Plus, market intelligence gained from the local market could detect early warning signals of strategic surprise so the CEO and management team at headquarters are well-informed beforehand.
Above all, Business Intelligence via translation sharpens the decision-making ability of the C-Suite and provides options for maneuver ahead of rivals.
Conclusion
Business Intelligence via translation avoids strategic surprise, a cataclysmic event in the life of any business.
Plus, increased inputs in the information screen allow detection of looming threats; remember how Blockbuster could have bought Netflix for $50 million and didn’t?
Companies that wait any longer to adopt business intelligence strategies risk losing opportunities to open blue ocean market space and tempt a Black Swan event – an unexpected harmful occurrence.
Instead, firms can decide to be the disruptor, not the disrupted, and implement a business strategy bolstered by Business Intelligence via translation.
Please visit my Atranslationace.com Facebook page and let me know your own thoughts about Business Intelligence and Translation!
Read more about how translation can help grow your business profits. Read my own eBook on the subject – .
Professor Winn is a certified translator of Spanish, French, and Portuguese to English.
Contact him for your translation project today.