Establishing a Business Intelligence Strategy: What to Do
We live in a time where terms like “business intelligence” and “big data” are pretty much running the show. The reason for this is quite simple. Businesses have reached a point where they cannot forge ahead without any real insight into the data they collect.
In order to ensure that the adoption pays off, businesses need to have a plan or strategy in place. Without a business intelligence strategy, things can go haywire at any given moment. So, if you’re a business that’s looking to adopt a business intelligence solution or even trying to migrate to a new one, here are a few tips that can help smooth out the process and guarantee positive results.
Leverage the right data sources
Business intelligence runs on data and your business obviously has some process in place to collect and analyze data. But, in order for data to deliver the right results, you need the right data sources. Having the right data sources can completely change your perspectives on the market you’re operating in.
So, choose an analytics solution that offers the right data sources. Only then can your business intelligence software serve you well.
Involve your core business areas
A common mistake made during adoption is to assume that business intelligence falls exclusively within the business and technology arena. Of course, this isn’t completely wrong. However, business intelligence also includes the word “business”.
So, a successful business intelligence strategy depends on both the technological and the business teams being involved. There are key insights that both sides can offer. So, it is necessary to seek support from all the core departments within your organization. For instance, marketing is one department that can greatly benefit from a business intelligence solution, so, make sure they are involved in the implementation process.
Look at the present scenario
Business intelligence deployment is a complicated process that involves plenty of front-end work. So, one of the most important things you need to do is have a good look at the current situation. Assuming that you’ve got all the key stakeholders supporting your initiative, it would be a good time to assess aspects such as your current processes, the software stack, and the organizational structures that are linked to it.
Determine what’s still applicable and integrate it into your new strategy. There is no need to revamp everything and upset everyone. The same thing applies to the data sources you rely on, as well as data storage. For instance, will there be a need for a data warehouse? It is important to have answers to questions like this.
While following these tips may help you implement a business intelligence strategy, we motivate you to seek professional support. iMovo offers business intelligence solutions together with software integration, training, and custom dashboard development. We ensure that you implement business intelligence successfully and start to benefit immediately. Contact us now for more information on the packages we offer.