You can’t simply buy a Business Intelligence solution and wait for the magic wand to hover over and turn around tables for you, enhancing your business to its best. It just doesn’t happen on its own. There is much more to it. The general impression that enterprises carry is once you start getting visually appealing dashboards, the magic has begun. But it is not so. Prior to dashboards, there are many vital elements that are heavily responsible for the success story of any BI application, in whatsoever industry segment it is or whatever maybe the size of the organization. The big myth that companies have is that once any Business Intelligence solution is implemented, the dashboards that represent the bulk of information are the windows to their business efficiency and productivity. But, it is not so. There is more behind the screen, which plays a pivotal role in extracting the best out of any BI solution and harnessing its power to gain the maximum output.
For any Business Intelligence Solution to work at its best, it has to be treated as a wholesome solution and not software that simply has to be installed. On a general note, BI projects do not possess inbuilt strategy, planning, and management expertise. For any such solution to work wonders, it is essential to treat each and every phase with equal importance and judge the outcome of each of them and link it to the next.
5 Prime Ingredients, Apart from Dashboards, Required For A Successful BI Solution
Setting Up The Right Team
One of the most important things required for a Business Intelligence solution to succeed is to have the apt team, comprising of the right combination of experts, be it technical, managerial or analysts. Till you don’t have that, it is highly impossible to extract the requisite information from the solution since there is a lack of planning and guidance all along the way. Having only some of those may not necessarily help. A balanced combination of expertise is very much needed.
Following Best Practices
You have the required solution but do not possess the actualities of the industry standards and the best practices that should be followed in order to implement a hassle-free solution. This is what is the scenario in many enterprises. It is highly important to firstly cull out the best practices and strategies that need to be kept ready and handy prior to implementing the solution. Only then, can the solution work in the right direction in the right manner. You cannot simply neglect the standard practices set up by the industry and move on.
Systematic Data Planning
What any Business Intelligence service would need, to function at its best, is appropriate and regular streaming of data. Without it, what else would it manage and maintain? The entire crux of any application is the regular streaming of required data in the required format. And what needs to be done prior to implementing these solutions is to strategize and work out a proper plan of how and which data is to be streamlined and make it available at regular intervals so that appropriate dashboards are generated. A thorough data warehousing needs to be planned and executed.
Intelligent Inputs To Data
Simply looking at the data doesn’t suffice. You need to use your brains intelligently to analyze and work out the best possible solution. For a swifter and efficient decision making, you need manpower to enhance the understanding of the bulk of data that is being processed. Adding value to your time and combining your data with your brains is what could give you the most ideal combination of an ideal data warehouse for a BI solution.
Business Intelligence is all about data, from here, there and everywhere. However much we try to keep out dashboards in place, if the data at the very base, is straying around, what could you do? What if the data coming from varied sources gets haphazard? That is where the importance of data integration and warehousing comes into play and are primarily essential elements for these solutions to succeed.
These are a few of the many important elements that play a significant role in the success story of any BI solution. Possibly, on the front, what is seen are dashboards and reports, in attractive and lucrative formats, but, there is much prior to it that needs to be done and that too, in a planned and systematic fashion, to ensure the maximum optimization of the data that is being collated.
SPEC INDIA has its BI solutions and Big Data wings spread out across various industry domains like Healthcare, Finance, E-Commerce, Retail, FMCG, Education to name a few, implementing various solutions in a multitude of technologies like Pentaho, Jaspersoft, Microsoft and Tableau, most of which are now into embedded analytics.