Can Business Intelligence (BI) help your organization drive better business decisions? How do you know whether a Business Intelligence initiative can help your organization, and where do you start? In this blog post, the first in a three-part series on Business Intelligence, we will introduce BI and outline some common scenarios that often indicate an organization could benefit from better ways to govern data and fuel more intelligent decision-making.
Business intelligence, or BI, refers to a variety of tools and approaches that can help your organization create infrastructure to transform raw data into information you can use to measure company performance. BI marries technology and business expertise to help define and execute business intelligence strategies with technologies and services ranging from SAP and Microsoft SQL Server to data architecture, design and governance.
How do you know whether you need it? Organizations frequently realize that a BI implementation is required simply because they can’t consistently access data. They might be struggling with a legacy reporting tool with limited functionality, data sets that are not intuitive or require IT resources to access, or disparate data sources that affect the ease and accuracy of reporting.
In some instances, organizations find that they have an existing BI implementation that’s not performing as well as it could be. Generally, we find that when a BI implementation fails or underperforms, it’s usually because it did not address – or didn’t understand -- the underlying business problems. Does your team have to export data in order to further manipulate it, or do you have trouble meeting availability service level agreements (SLAs)? If so, an underperforming BI initiative may be contributing to the problem.
For other organizations, a change in direction drives the decision to assess an existing BI implementation and create a tailored strategy for moving forward. With new objectives driven by an increase in business activity, changing requirements as a result of a merger or acquisition or a corporate initiative to make use of advanced technologies, having a holistic, unbiased assessment of the established BI resource structure allows the organization to refine its strategy given its new business focus.
At ProKarma, we know that the people and processes that govern your data are critical ingredients for making the right decisions. Our Agile approach to BI initiatives can help you combine data quality and stewardship with the right governance model for your organization so that you can maintain your competitive edge.
Want to learn more? The next blog posts in our BI series will talk about the components of a sound BI strategy and the ProKarma approach to BI initiatives.