FAQs That Help You Understand Business Intelligence (BI) Closely

  • Posted on : October 6, 2015
  • Modified: March 2, 2022

  • Author : SPEC INDIA
  • Category : Business Intelligence

Buried under a heap of data? Need help?

Heap Of Data

The foremost solution that comes to mind is Business Intelligence (BI) – Blend data. Achieve Independence.

Here are some FAQs that help understand a few business and technical matters relating to BI. These are sure to help you understand BI much more closely and value its effectiveness.

Good ReadTechnical BI FAQs

Business Intelligence

How Would Business Intelligence (BI) Help My Organization?

Today Business Intelligence (BI) is proving to be an important tool using which organizations are able to provide the right people, the right information at the right time, leading to

  • Increase in operational efficiency
    • Eliminate costly, delayed report generation
    • Enable end-user to analyze and create reports from available information without assistance from Information technology teams
    • Analyze root cause and take corrective actions
  • Maximized revenue
    • Improve Marketing Analysis
    • Targeted marketing campaigns
    • Real-time fact-based decision making
  • Improved customer experience
    • 360-degree customer analysis
    • Personalized marketing
    • Faster response
  • Compliance achievement
    • Assess risk position
    • Maximize available funding
    • Provide social and public information

Do I Need A Separate BI System or Is It Part Of Existing Business Applications?

A separate BI system is recommended as unlike usual business applications, an individual BI application encompasses continuous enhancement and improvement based on feedback received from the business community.

In contrast to business applications, a BI system can be built on cross-organizational / functional activities to sustain an enterprise-wide decision support environment. With the minimal dependency on business applications, a BI application would exhibit enhanced performance and efficiency.

What Can Be The Focus Areas Of Business Intelligence?
  • Customer satisfaction
  • Problem resolution
  • Up-sell & Cross-sell
  • Customer Churn
  • Product / Customer segmentation
  • Cost control
  • Revenue & Profitability
  • Performance management
  • Defect Minimization and Tracking
  • Market Analysis and effectiveness

How Do I Ascertain The Need For A BI Application?

  • The need for a BI application arises from the operating departments like Marketing, Sales, and Finance, wherein analysts need the actionable insights of data in a timely fashion. Such requirements are usually not generated by IT departments.
  • BI applications are usually, needed by the top management and strategic planners of the organization and drills down in the organizational hierarchy.

need of a BI Application

Who Are The Target Users Of BI?

  • Top management, Strategic planners and key business users
  • Analysts
  • Lineworkers
  • Customers/Suppliers

What Would Determine The Critical Success Factors (CSF) In BI Projects?

It is a known misconception that BI projects belong to the IT department of an organization, whereas any successful BI / Data warehousing project is driven by both – IT as well as functional departments.

A Few Critical Success Factors In Any BI Project:
  • Involvement of business and BI experts, with the right team structure
  • Well defined business cases to get an apt solution to the business problem
  • Sufficient funding and Return on Investment (RoI) plan
  • Bottom-up approach – to start by building the data mart first
  • Continual and adequate involvement of functional experts
  • Definition of correct and comprehensive KPIs
  • Thorough and efficient project management
  • Adequate metadata design
  • Availability of latest technology and tools
  • Thorough end-user training
Why Is BI Reporting Better Than Conventional MIS Reports?

BI is much more than just management reporting. It provides real-time, rapid and easy access to the actionable insights of business conditions – about customers, products, finance, and market. Let us take one scenario:

What Parameters Do I Evaluate In Choosing A BI Solution?

  • Product acquisition cost
  • Return on Investment (RoI)
  • Plan for user growth
  • Scalability
  • Agile BI support
  • Ability to adjust to business changes
  • Ability to connect to any data source/database including NoSQL, Big Data
  • Ease of integration with third-party applications (Embedded Analytics)
  • Data blending support
  • Single solution for the entire spectrum of BI requirements like Adhoc Reporting / Analysis / Dashboard, ETL, Predictive Analytics, Support for SSO / LDAP, etc.

These are just a set of few questions, that give an overview of BI and attempt to solve certain basic fundamental queries for any enterprise going in for a BI solution.

SPEC INDIA has its BI solutions and Big Data wings spread out across various projects, implementing various solutions in a multitude of technologies like Pentaho, Jaspersoft, Microsoft and Tableau, most of which are now into embedded analytics. We are global certified partners with Pentaho.

Author: SPEC INDIA


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