Business Intelligence Strategy And Big Data Analytics – Business Intelligence is a way to turn raw data into actionable intelligence. It allows you to collect data from various sources, organize them and then enjoy the analysis. You need it? Probably because it is the most balanced aspect of the business you can get. But as you can guess, starting such a complicated task requires some preparation and we hope we can help you in this regard. And if you have already implemented some BI procedures in your company, this article will also help you to prepare. Now let’s talk about your Business Intelligence strategy.
BI strategy will allow you to solve all data-related problems and needs, create a coherent system and ensure its maintenance. What happens when you start implementing BI without a strategy? You are usually too focused on getting these charts, but no one in the company understands why or how to use them. Here are some helpful pictures about life before and after BI strategy.
Business Intelligence Strategy And Big Data Analytics
We have previously published guidelines for implementing BI in your organization. We will now discuss in detail one phase of your implementation plan – the BI Strategy Document.
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Vision. Why did you create a BI implementation in your company and what do you want to achieve?
Equipment and architecture. What dashboards and solutions do we want to create? For which areas? And how will they affect these areas?
So when you look at your company’s corporate strategy, you imagine the BI initiative you want to start. This vision will then help you choose the right person to use and maintain the chosen process. You use software tools to support people and processes. And finally, you determine the architectural plan for its development. Now let’s get into the details of these steps. We will start with those companies that already have a BI profile.
To know where you are going, you need to determine the basics. Suppose you know that some departments use analytics tools but most of the data is hidden – marketers do not have access to sales information and customer service monitors user feedback for their internal purposes or maybe everything. – Basically it seems to work. But it is not clear how effective it is.
How To Create A Successful Business Intelligence (bi) Strategy For Your Agency
So the first thing to do is to speak to all participants in the current BI process: users and IT teams, department heads and stakeholders. As a result, you should have answers to the following questions:
Then compile a SWOT analysis to sort out what you find. SWOT analysis, an important strategy-making tool, will help you identify your strengths and key issues for the next step.
Vision is a combination of purpose and direction. There is no strategy without vision. It manifests itself in the form of many important decisions, e.g. What data we will receive or who will have access to insights.
The vision also serves a nasty purpose: to explain to the people in your organization – who already have the tools and processes they like – why they need new things and how change will happen.
Enterprise Business Intelligence
Our company’s BI vision is to create and support infrastructure that provides secure access and access to data stored anywhere in the enterprise. Our company’s BI device standard is ________. We operate and measure our BI Capacity Center based on end-user satisfaction surveys and successful implementation. A significant portion of our end user community requires real-time data access. That is why we have created such infrastructure to meet them. We currently support ___ users, which represents ___% of our users. Our goal is to increase usage by ___% by (date). We weigh the potential cost of increased BI usage compared to business value and the return on investment we receive. In this way we have a clear picture of our measurable success, accountability and protection.
Biere also notes that such a clear vision will help protect management staff whose sole purpose is to provide workers with cheap equipment and return to “real work”.
After all, the vision is often accompanied by a BI Maturity model, a scale that tells you how mature your strategy is. Many interpretations of the model of maturity are available online, including the popular Gartner model. According to them, BI maturity has five levels: unconscious, opportunistic, enterprise standards, and change. Using these templates helps identify areas of growth and determine what your next goals might be.
BI management is about defining and implementing BI infrastructure. (Not to be confused with data management that ensures consistent use of data across an organization.) This includes three elements:
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Identify BI governance members, their roles and responsibilities, functions, goals, and relationships with the various structures within your company. Engage people from all levels, from CEOs to end users, to bring all their views together. It is not a group of BI experts, but a council of representatives from different parts of the company.
However, large companies will benefit from a team with full expertise in the Business Intelligence Center (BICC). BICCs help identify data requirements, establish data management structures, control data quality, and integrate data as a whole. These are data science programmers and analysts, specialists in database, communications and reporting tools. We recommend setting up such a team if you have a team of specialists or funds to hire them.
The BI life cycle is a framework that supports BI activities, especially the architecture and tools used for it. The architecture usually looks like a pipeline starting with a data source (your ERP system, an external source.) Before the data is finally displayed in the dashboard and interactive tools. There are many architectural styles with different configurations of system elements.
BI device selection. Depending on your confidence level, you can get a comprehensive platform or create your own mix for each stage of the BI process. You can also find the perfect match in terms of price or depending on whether you want to deploy on the premises or in the cloud. Use our guide to the best BI tools to assist you in this endeavor.
Reasons Why Business Intelligence (bi) Is Important
Process setup includes data. Identify your data sources and make sure your BI device can evaluate them. Make sure your data is high quality and streamline the data processing process. Consider a database architecture.
Providing data presentation. Determine the types of reports and dashboards that will be displayed on the system based on end user requirements and KPIs. Check out our guide for visual data ideas as we also list some useful tools and libraries.
Test user acceptance. User acceptance testing is a process that is often overlooked, but it is important that end users are asked to perform a number of tasks and gather information about the usability and operation of the system. You then set up a test case, select a test time, and select the equipment you need.
Perform training. End users should be trained to understand the basics of data and use visual platforms. Before that, members of the non-BI management team should be trained to understand the stages of data exchange. Generally recognize where there is a knowledge gap and make sure you fill it as soon as possible.
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In addition to training, be prepared to support users and solve their problems. Organize feedback processes, decide and decide how you can respond to them as quickly and economically as possible. Having a user support structure means you cover them from three points of view:
Data Education Support – Provides a knowledge base for users to find answers to incoming data: metadata, objectives, scale data, data sources, etc.
Device Support – If possible, select a device with the end user, then create an agreed time for a response to the problem and let them know which network or contacts they can use for assistance.
Business Support – Make sure the end user not only understands the data but also knows how to extract value from it. Assign mentors in each department to help users learn how to value using BI tools, metrics and dimensions to look for, and how to determine data trends.
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In this case, the roadmap is a visual file that shows the results at various stages of implementation on the timeline. At this stage you have all the data you need to prepare and plan on the map, you just need to determine the time and delivery for each task.
Roadmaps may include only advanced tasks such as “Finding a BI Provider” or narrowing it down to “Create a list of the top ten games”, but for strategic mapping an overview will suffice. The following is an example of a three-quarter street map. It has results and highlights, and the work is divided into groups.
Our guide to creating an action plan should help you, but we will repeat some key ideas here.
The logic of the strategy document is that it will serve as a reference point for the organization as a whole and will be used to present the strategy. What parts are included in this document?
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How will you measure?
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