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Six Signs You Are Ready For BI
Six Signs You Are Ready For BI
its Time
to Take the BI Plunge
The solution
The approach
The problem
Youre thinking it might be
time to streamline your
strategic business decisions
but arent sure if youre ready
to make the commitment with
a full Business Intelligence
solution.
The solution
A Business Intelligence system automatically
culls information from all available data sources
and displays data in easily digestible dashboards,
reports, and analyses. Users can then dig deeper
and figure out the trends that might otherwise be
hidden deep within data.
Share knowledge across the company and control
who has access to what. Create one report or
dashboard, and let the system automatically
tailor it for each individual or department. Or
share access to data across the company from
all business units so users can make better, more
informed decisions.
The solution
With BI however, all data extraction
and processing is put in the hands of
the computer. Reports can be created
with as little as one click and a few
seconds.
And thanks to tools like notification
agents, you can sit back and let the
system monitor all the data incoming
from the ERP system and notify you
when changes occur. Which leads me
to my next red flag
3. YOUR COMPANY
HAS ESTABLISHED KPIS
THAT ARE ONLY
MONITORED MONTHLY
A Key Performance Indicator isnt indicating much if its only being
examined once a month. KPIs must be measured frequently. At a
minimum, they should be measured daily.Ideally, theyre monitored 24
hours a day, seven days a week. If it takes days to run a single report,
its simply not possible to make strategic business decisions.
The solution
A Business Intelligence system will extract data
every day, multiple times a day. This keeps a
steady finger on the pulse of your company health
by observing not only the large peaks and valleys,
but any minute changes in business.
With real-time observation, its possible to drill
down to find exactly what worked and what didnt.
Did a particular Tweet spike visits to your website?
Is there a particular day of the week or time of the
day that sees a bump in sales? Knowing these
answers gives you the key to improving business
by zeroing in on what works best and what
doesnt.
A true BI solution will not only automatically
generate these reports, but as I mentioned above,
will send notifications to your desktop, tablet, or
mobile phone if a KPI reaches a certain threshold.
This ensures action can be taken immediately.
The solution
With the ability to translate data into visualizations, getting your head around
what was once a complicated spreadsheet becomes easy. But Business
Intelligence is about more than just insight and data graphs; its about working
within the information to see where the trends begin and how to move forward
with them.
No detail is too small with the right tools. The more the picture of a company
comes into focus, the more confidently decisions can be made. Theres a
reason the OODA loop starts with Observation, and BI makes that step easy.
Move through Orientation, Decision, and Action faster and more intelligently.
BI enables users to push high level reports and analyses out to the entire
organization so everyone has insight. This creates a more informed
environment and motivates and inspires employees to reach their goals. As
Ill touch on further in a moment, you can rest easy knowing everyone in the
organization has the most updated information available.
6
Not only is the amount of available data sources growing, but so is the
complexity of the data. As a result, theres a rise in reporting experts
spending an increasing amount of time developing reports and analytics
for an extended user base within a company. With different users each
manipulating data differently, it becomes challenging to maintain a consistent
shared world view across the company.
This is especially apparent when those reports are generated in Excel
and manipulations live only in an individuals own files. These might
then be shared through paper reports, word of mouth, emails, or via the
company network, causing further fragmentation and loss of control of data
consistency.
The solution
With a full-fledged BI solution, companies can harvest
the benefits of a single reporting and analytics platform
that provides a consistent user experience across all
platforms. Changes and manipulations are reflected in
real time.
And reports and analyses can be shared throughout
the company, with only relevant data for each individual
or department shown automatically. Dashboards can
also be added to storyboards, so each department and
team can effortlessly follow the progress of ongoing
project. Never again wonder if everyone is viewing the
most current data.
6. THERES RESTRICTED
ACCESS TO YOUR DATA
Information doesnt do you any good if you cant
access it when you need to. As mentioned above,
data sources and complexity are growing at a rapid
pace. Not only is it vital for companies to measure
and monitor internal data, but they now need to keep
a reading on the external data exploding around
them. In fact, over time a companys external data
will far exceed their internal data. Companies that
dont learn from and adapt to this Big Data will be
quickly left behind.
As such, many companies keep BI in the hands of
the IT department. Generating reports and analyses
are time-consuming and complex. If you dont have a
degree in computer science, it isnt likely youre going
to master the system.
The solution
With advanced Business Intelligence and Analytics solutions however,
BI is put in the hands of everyone in the organization. User-friendly
search engines make creating reports, analyses, and dashboards as
simple as plugging in a few natural language words and watching the
computer do the work for you on any platform.
Anyone can edit criteria and drill down on data with a few clicks. And
create stunning data visualizations that make the answers youre
looking for obvious. Suddenly, everyone has an advanced degree in
BI. Just one of these red flags is strong sign that you need to start
thinking about Business Intelligence. Once youve opened your eyes
to BI, youll be surprised at the picture that comes into focus.
Dashboards >
Analytics >
Reports >
Storyboards >
Emails >
Alerts >
Mobility/Web/desktop >
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