Business Intelligence is defined differently by many people; however, it is easiest to define it as the cohesion between data and software working...
Expectation vs Reality - What you should know about Business Intelligence
What is business intelligence really like? Here are 4 things you should know about business intelligence and the reality of using a tool like this.
Many businesses today are starting or have already infused Business Intelligence tools into their workflows and procedures to reduce cost, cut data mining time, reduce the number of tools used daily, etc. Fortunately, many have succeeded in their initiatives, but some have come to realize the challenges that pop up along the way.
Before we start laying out the expectations we have for BI, here is a piece by Forbes that gives us all a reality check, "Business intelligence is only as intelligent as the data that goes into it ... and only as smart as the people using the data. As companies big and small take up the arms race that is big data, what’s getting lost in translation is the process -- and difference -- between gathering business intelligence and using data analytics to make real business decisions that have an impact." (Forbes)
Now after reading that, here are the most common expectations vs reality of BI and how you can think differently about your strategy.
"This product can be used right away"
Depending on the type of BI tool this could still be a reality; however, the tools that are more commonly used today have to go through an initial pilot or an integration phase. This initial set-up phase helps transition organizations to use the product and gives them a chance to assess the true value of the tool. Depending on which solution you choose, a more tailored approach might be used to get your organization using the tool as well. Tools that use BI, AI, ML, etc learn or are programmed to get better with time and use of the tools as it allows for growth as change is a consistent factor.
"The tool is designed for end-users"
Unfortunately, there are some solutions out there that are not designed with end-users in mind. At some point during those builds the end-users, being the primary user (possibly without advanced technical knowledge), fell off the map, and solving the problem clouded that end result. When it's time to go searching for a tool that will help solve your problem keep an eye out for which seems to be more user-friendly. If you can't use the software to get the knowledge hidden in your data then it might be time to find a different solution.
Something to keep in mind, when creating any product regardless of industry, the end-user should be in mind as the purpose of the solution is to provide the benefit to those who use the solution. "TDWI’s research found that 63 percent of the time, big data analysis is used by departments other than IT." (Technology Advice PDF) Focusing on the end-user also helps to build longevity into the solution as the marketplace changes frequently and is disrupted by other products.
"This tool is an all-in-one solution"
As great as an all-in-one tool would be, technology right now doesn't allow for just one tool to control and view everything. Plenty of us have seen companies market that way, but in reality, just don't believe all the hype around one tool solving all your problems. At least not yet anyway. Plus, having a few tools that work together has the added benefit of bringing together different kinds of technology like AI, ML, Deep Learning, etc. Although, there are solutions that coupled with next-generation technology, can aggregate, automate, integrate, all in real-time delivering solutions that redefine the "all-in-one" solution.
"Everyone should use BI tools"
The expectation seems pretty reasonable since these tools help provide an understanding and insight into your data and what you can do moving forward with your organization. The reality is, Yes and No. It truly depends on what industry the organization is in and where they sit in their growth cycle as a business' maturity plays a big factor in the use of these tools.
If you made it this far into the blog then you have realized that there is more to Business Intelligence than what meets the eye and it takes a refined solution to remove expectations. If you are looking for a solution that removes expectations, redefines what we know as BI, and integrates next-generation technology then CORAS Programs is your solution. CORAS Programs helps to make sense of all of your data across all tools seamlessly & effortlessly with next-generation technology. We’re ushering in the new age with Artificial Intelligence and Machine Learning. Instead of you searching for your data, we’ll bring it to you. Programs change the way data talks to you bringing you incredibly fast insight into the ground truth keeping your mission aligned with your organization.
Visit Coras.com to learn more about our solution to your complex data problem. Don't forget to drop a comment down below or subscribe to our blog/social media so you can stay on top of all the top trending industry news!