Business Intelligence (BI) helps human beings understand their business complexities better. It is essentially a combination of various techniques and tools designed to enhance business performance and to help entrepreneurs in making the right business decisions. For most organizations, it works as a support system that helps analyze large amounts of data and develops insights that further business progress. Businesses are using the BI trend by giving their employees access to a training course like a Big Data Architect course and so they can deal with data and help make better decisions.
With so many techniques, tools, and methodologies in its kitty, BI helps businesses in a big way and facilitates a finer collection of internal and external data, offers detailed analysis to create dashboards, develops queries and delivers valuable business information after visualizing data. BI solutions have a positive impact on businesses because of critical insights they deliver that ultimately lead to growth.
You cannot make the most of BI if it is not implemented properly throughout an organization. BI needs to work in tandem with Big Data. When used together correctly, BI and big data can take your organization to the next level. Therefore, you need to consider some points before the implementation of business intelligence in your organization.
Build or Buy BI
Most organizations often struggle with the dilemma of whether they should develop a BI solution from scratch or buy a BI tool and customize it according to their requirements.
Sometimes, IT developers prefer to create their own BI solutions from scratch. Though this might seem tempting, the customization, scalability, and implementation of this solution might consume a lot of time. When you think about the bottom line, it might just cost your company a lot lesser to pay an external BI company than to set an in-house development team to work on the bespoke BI product.
The possibility of integrating present infrastructure into a mature BI infrastructure is one of the most important aspects of BI. Organizations try to optimize their BI infrastructure to attain higher value, and this can be only possible if they can transition from a traditional business model to BI predictive analytics model successfully. The efficient use of analytics involves looking at BI in a new way, for example, monitoring the overall effects of a new store on annual sales and product distribution, or tracking customer trends with market performance. To perform all these tasks, it is just a simpler feat to buy a well-established BI product.
You might have certain applications that provide data and output like ERP or CRM running in your organization. These applications should be thoroughly studied and tested to see if it is easy to integrate its data into the BI solution you are deciding to finalize on.
You might even need to change your applications or write a bridging code to integrate your BI solution into the application. Make sure you use the minimum ad hoc patches to keep up the stability of your final solution.
Data fetched from online transaction processing systems is not secure and can even delay BI implementation. When shaping your ETL procedures-extract, transform, load, you need to have a focused approach toward every field to evaluate data capturing and decide update techniques for the field. Usually, organizations have Excel jockeys and unrevealed data that should be acquired and standardized along with Excel sheets. The departmental data mart is expanding, and primary enterprise applications give their inputs. You need to put an effort to locate such entities otherwise you will need to feed the data mart from you BI stack. When you check whether your BI project fulfills the mart’s function or not, you can decide whether you need one more application or not.
Also Read: JOURNEY FROM RAW DATA TO ACTIONABLE INSIGHTS
A BI solution should be easy for everyone to use. A complex solution won’t bring any worth as nobody would use it. A user-friendly BI should be followed by a training program to ensure that every employee is acquainted with BI solution and make the most of it.
If you don’t want to pay extra; you can go for a training program that includes training as part of the implementation. The basic features that you need to consider when buying a BI solution are implementation time-frame, IT support, integration, security, and databases. For this information, you can contact any professional agency that can solve all your queries.
Excited to contact CMOs for expanding your business?
Start with DataCaptive to reach Chief Marketing Officers like never before.
How you get your BI defines your approach to data analytics. The efficient analytics process helps business users make accurate predictions of business events. This makes business intelligence more interesting and valuable.