Business Intelligence: Best Practices To Yield High
In order to make strategies for business it is must to realize the value of the information you holds and generates- whether about customers, sales or operations.
Recently developed Business Intelligence (BI) tools are able to offer integrated real-time information that will give your business supreme insight into customer behavior, market trends and your own business. You will be able to better forecast and plan for the future, increase sales and improve operational efficiency with them. This entire make BI is the top spending priority, as well as one of the few areas largely untouched by the budget cuts.
The most critical issue is not only choice of tools and technologies, but ensuring you have effective, ongoing governance in place too. The goal is to ensure users can access the right information as and when they need it, as simply and in as timely fashion as possible – which should mean without go through the IT department.
BI has to be as much under the control of users as possible. When you implement BI it is advisable to go for training.
You also need to segment different types of users and give them appropriate levels of training and access. For example- Putting a really advanced forecasting tool in front of a customer care executive is completely senseless, at the same time is can be godsend for an project manager.
Appoint a proper departmental campaigner for each sub-group of users – someone they can go to for immediate help without having to rely on IT.
Because IT is generally a constraining factor, some time they don’t understand exactly what business user wants.
Go for an incremental approach instead of a big bang also you need to treat BI as a business improvement and change management process rather than just an IT project.
Best practice is to develop a BI competency centre within the organization to deal with all aspects of BI strategy, sourcing, implementation, management and training.