BI Mistakes firms can do without
Business Intelligence solutions can power a firm’s decision making capabilities – only when critical mistakes are avoided
The business intelligence market is estimated to be more than $14 billion and is set to grow steadfastly over the next few years. Over the past few years many, companies have implemented business intelligence platforms, most of which are purchased by IT departments. As a result most BI systems tend to be highly centralized and more tuned to consumption by IT analysts than business users. Despite automated flow of data from ERP systems to BI platforms, most firms continue to grapple with generic reports produced by the IT department pushed out to a team of analysts who then reorient them for management consumption. The other fallout of an IT function mandate for BI is that while analytical capabilities are often elaborately deployed they are never fully embraced and utilized by the majority of business users who find them too difficult to use for most real life analytical use cases.
As a result, many companies are look to complement or even replace their existing business intelligence platforms. Implementing BI solutions without fully understanding the common pitfalls will not help answer business intelligence needs. Here are 5 common mistakes that firms need to avoid to ensure that investments in Business Intelligence systems bear fruit.