About 90% of all the data in the world has been generated over the last two years. Most of it is unstructured and spread across systems which can’t communicate with each other. BI solutions enable organizations to quickly access this data and transform it into actionable information required to make informed business decisions. However, proper implementation and usage play a vital role in ensuring BI success. We have identified and defined some of the best practices that can ensure a successful BI project:
1. Identify your business needs
Develop an understanding of your company’s BI strategy and build a solid foundation based on Key Performance Indicators (KPIs). Defining your company’s objectives and focusing on your goals will help you to identify opportunities for improvement. Nowadays, analysts are no longer spending time making reports. Instead, they are using self-service BI to improve processes and making a real difference.
2. Customize data delivery based on your audience
Focus on who your audience is and what type of information will be most useful to them. For example, marketing related data should be made available to the marketing team, and finance related data to the finance team. Keep the graphs and visualizations simple and allow users to experiment and provide feedback. Getting the users involved early in the implementation life cycle improves their adoption of the tools, and their feedback can drive future enhancements, upgrades and bug fixes.
3. Use the right tool for the job
Including users in the selection process of your BI software helps you implement the right solution. An easy-to-use BI application that meets the requirements of all users and integrates with your existing infrastructure will benefit everyone. A good BI solution should be able to tell a story about the data and drive intelligent decisions.
4. Deliver self-service BI
Self-service BI tools are being preferred as organizations are looking to enable all types of users to use BI software by themselves. Each user could be asking different questions and looking for different answers and self service BI enables them to do exactly that. Users can now create and customize reports by themselves without the need for IT support.
Kshitij is the CTO & Global Vice President of the BI/EPM practice at Apps Associates and is responsible for evaluating, driving and facilitating innovation across technologies which are aligned with our overall business strategy. Kshitij has over 15 years of industry experience and has a deep technical background in data warehousing and database technologies. Before joining Apps Associates, Kshitij worked for 6 years at a leading social research firm based out of Cambridge, MA and for 3 years at the Government of Qatar developing GIS applications using ESRI, Microsoft and Oracle technologies.