BI is big money but first you need to get these things right

Business Intelligence is being adopted by the enterprises since ages. It has gradually matured and has evolved as Big Data/Analytics today. Big Data revolution as assumed by enterprises will change the way management and business decisions have been taken till date. It is believed that with analytical tools, organisations can now predict a lot about future trends, customer behaviour, patterns, and market changes. Decisions can now be more data driven and don't need to be intuitive.

Though BI/Analytics tools are now considered to be backbone of an organisation in this competitive data driven economy, successful implementation and assessment of the tool is equally important. Most organisations though enthusiastic about BI adoption, find it more complicated and costly during implementation. Besides they find it difficult to quantify the business benefits achieved from deployment.

 BI is big money but first you need to get these things right

Representational image: Reuters

Here are a few critical aspects which need to be evaluated before adoption of BI -

• Organisational readiness- Enterprises should assess if they are ready to adopt BI -if the company has required data or a way to capture that data and do they have the skill-set or resources that can manage the tool

• Setting the expectations right - before deploying any BI solutions, the management should be clear about their expectations from the solution. Until and unless the objective is clear and right tools are chosen, it may not yield desired results.

• Capturing relevant Data - with the advent of internet and social media, enterprises are bombarded with data today. However capturing the right data, and having the right tools to analyse that data is crucial for the success of BI. Integrity of the data is crucial for success of any BI project. Many a times business leaders complain that the data provided has not helped them in business decision making. This is primarily because of lack of availability of correct data.

• BI should be linked to Business Objective - the technical team s should be trained to understand the inherent objective of adopting the tool and the kind of reports/results it need to deliver. Often it is found that technical teams doesn't understand the business requirement and thus fail to deliver the right results

• Leadership Support - the top management should be willing to use the data and should encourage a culture where employees would be willing to take decisions based on data and not on adhoc basis or on gut feeling. Lack of willingness from the users to adopt it can also lead to failure

-- Sandesh Potdar, Sales Head - BI & Mobility, Blue Star Infotech

Updated Date: Jul 09, 2014 11:13:58 IST