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8 Success Factors to Use Business Intelligence

business intelligence, business intelligence systems, intelligence systems, business

Source: Cloud Data Integration Software | Matillion

Introduction  

Business intelligence can be completely transformational if done correctly.  Users can get access to self-service reports which in turn creates a faster and more efficient timetable.  Well-designed data warehouses can reduce errors and possible conflicts in the information found.  All that needs to be done to make sure that this happens is to build a good business intelligence system.   

4 Factors of Successful Business Intelligence   

  1. Don’t Focus on Every Type of Data – Focus on one subject.  Which area would benefit the most from getting better reports?  Work on that area until fully improved, then move onto the next area.  It’ll help to build your reputation among the competition.  It seems like will help to lower your costs and shorten timelines also because of the more streamlined setup. 
  2. Ease of Use – The front end needs to be with no complicated, less understood technical terms.  Along with this creating ease of use, tables help make finding data easier.  And then reports can be built this way if not using self-service options.  In other words, have a search option available so that people can find data through a browser instead of through programming alone.    
  3. High Performance – Try using modern technology when building your business intelligence system.  in-memory analytics, columnar databases, SSD disks and advanced caching will help to speed up your system, therefore making all users happier to do the work. 
  4. Choose Technology Carefully – Don’t just go for the one that’s bundled to what you have already.  Make sure you check out everything and all your options first before deciding to go for the easiest.  Consequently, you might get more bang for your buck and save at the same time. 

4 More Factors to Consider

  1. Understand the Cost – When you see the license it’s really only about 20% of the cost itself.  The other 80% includes hardware, consultancy, and software to run the databases and operating systems in some cases.  It’s not always this way, but it’s something to consider when shopping around. 
  2. Advocates – Who are your domain experts?  They can become your advocates as they really have a full understanding of what your reporting requirements are. They can test the numbers and turn in the reports correctly.  Because of this, they are your best bet for getting the rest of the workers to accept implementing the new system more quickly in the work area. 
  3. Reconcile – You have to make sure that your numbers add up correctly, or you’ll have your users losing faith in you and your company.  Ensure the reconciling of the numbers back to trusted sources in order to make sure everything adds up correctly.  If including calculations allow a way for the user to find out what they mean through something like tool-tips.   
  4. Involving the Executives – Business intelligence works much better with involving executives then not.  Because of this, the executives can make decisions easier and more quickly, along with allocating resources to the right places. 

Summary 

Involving everyone in the process of implementing a new business intelligence system is a priority.  It’s like anywhere else.  It the worker doesn’t see interest in the executives and managers, then they aren’t going to want to work with it either.  Consequently, it could cause you problems in the future and a loss of money.  To deter this from happening, make sure all are on board to support implementing the new system.  Focus on small areas first to improve, then move to other areas.  This will help you to not spread yourself too thin.  Make sure that the system is put into action is easy for everyone to use and is high performance.  Otherwise, people will really hate to work with because it’s too slow.  It won’t be cheap to build either, so make sure you shop around for what you really need instead of what’s there.  If you do this, your business intelligence system could become one of the best.   

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