So, your company has fully internalized the message that businesses need more agility. You’ve made the most of cloud-based computing, an agile workforce and have gotten your employees to think like disruptors. You’re on the road to enabling enterprise Digital Transformation. There’s just one issue: Security. It turns out that hackers have already…
This article is very interesting as it deals with what we are all concerned about today and that is security. Hackers are very agile, so why can’t we be? That is a big security risk that has to be reviewed and strengthened. Hacking is a huge issue that we have to try to mitigate if possible.
Types of BI
Business Intelligence (BI) is extremely popular and is a top focus. There is the traditional software, cloud services, mobile apps and social media. What type do you need for your business that will help and not hinder progress? Choosing the wrong software to fix your business problem(s) or having end users who don’t understand the new programming will cause failures.
- Not defining the business problem(s) – Don’t jump the gun until you know exactly what you need. Buying for general capability is the worst mistake you can make. Look for defined problems that need solving.
- Not getting commitment from end users before choosing the BI solution – Make sure to get people’s opinions of the selections available as they’re the ones who will ultimately use it every day. Otherwise, the tools will be ineffective as no one will use the upgrades. They have to approve of what might become the new initiative, or they will never use it. Don’t tell them they have to use it, help them to understand why they’ll want to use it when it’s up and running.
- Not considering security or legal requirements – Follow data governance when selecting new solutions. It protects both your company and customers.
- Don’t get swayed by features and forget legacy systems and integration – Most companies look and rank BI software by the features available. This is wrong. You need to look and see which app will be able to integrate with what system you use already. There has to be an ability to work with all your other business systems or it won’t work correctly.
More BI Mistakes
- Not choosing a program that can scale and adapt to change – Choosing a solution that isn’t flexible is one of the worst things you can do. Self-service analytics are now the norm, where they can work well with new data sources. The ability to scale is necessary is as the system grows, the software has to keep up. You don’t want to have to buy new software every time the business grows.
- Not considering the mobile workforce – You have to consider mobility. Being able to use the new BI solution on a smart phone is a great advantage and allows for more productivity.
- Rushing implementation – Never rush the upgrade. Mistakes are going to be made with possible cost increases.
- Insufficient training and underestimating costs of training – A few weeks of training isn’t going to cut it with today’s BI systems. The systems in place now are very complex. End users need a lot more training to work them. There’s also the need for ongoing training to keep the end users in the loop for changes to the programs.
- Not leveraging intelligence and reporting – If you’re going to collect all this data, then make sure to share, analyze and act on what is found. It’s a waste to buy the new BI solution if not used properly.
Uses for Upgrades
This software is used in many ways. It is used to build reports, find risks and opportunities and forecast trends. Don’t become complacent with pre-defined sets of reports. You’ll miss changes that are occurring in the business world.
Define Enterprise Agility
To be able to operate and be strategic, there are tons of factors to consider. Hyper-competition, higher demands from customers, advances in tech and changes in regulations have to be considered when upgrading. There’s something called enterprise agility. It’s comprised of two things. Being able to sense what is going on and respond to it. The timelier the response, the more likely the company will succeed in difficult times. Dynamic capabilities are included here. One has to consider how to build the new system that will respond to the new environment. In order to keep up with competition capabilities have to be able to adapt to new changes.
Market orientation deals with market intelligence focusing on new and current customer needs. The information gathered will be spread across all departments so there can be company-wide responsiveness to changes. Absorptive capacity deals with how well the company assimilates, transforms and uses the knowledge gathered. Strategic flexibility is how well the agency manages both economic and political risks to market threats. It also looks for future opportunities. The flexibility has to include both reactive and proactive approaches to problems. Organizations need to be watchful for and respond to competitors’ actions. They need to look at consumer preferences. There has to be a focus on economic shifts. The agency needs to look out for changes in regulations and advances in technology too.
The Role of IT
The role information technology (IT) plays in this is very important. Responses are completed through direct and indirect means of digital options. Through direct means IT can anticipate and sense changes dealing with businesses. IT systems help as sheer volume of information processed goes further than can be handled otherwise. Indirect means are more pronounced though. This is where product development, manufacturing and supply chains add to performance of the organization.
Digital options can be considered indirect too due to them being work processes and knowledge systems. Knowledge reach is the comprehension and accessibility of codified knowledge available. If the system is built correctly it can help companies to gather and use the knowledge gained. Knowledge richness is when IT gives out high-quality information in a timely manner. IT also reviews real-time pattern recognition and monitors data. It helps create strategic scenarios assisting strategic decision making. Process reach is when IT integrates customers, suppliers and partners internally. The richness of these processes are improved by quicker timeliness of delivery. They become more accurate and relevant.
Depending on how the new systems are deployed and managed, IT could hurt as well as help businesses. The older the technology being used means responses could be limited by the range available. Everything would have to be updated, not just programming. Systems might restrict the ability to retrieve and interpret data being gathered for analyzing. Or processes could be incompatible with new systems. This would mean that they would have to be upgraded. It’s up to the firm as to how well IT is going to work for them if at all. Agility is the ability to respond quickly to change that comes up. The company has to understand the updates in order to create and implement them correctly. If not, they could fall behind from their competition even more.