|BI - 4 mistakes companies make|
Data has always been an important part of the decision making process in business, it's also proven integral in day-to-day operations. That's why the idea of Business Intelligence (BI) is starting to catch on with businesses. The ability to capture and analyze data is tempting, and when done correctly, it can bring massive benefit. However, some companies have tried and failed, which has proven to be costly.
Here are four of the most common mistakes businesses make with their Business Intelligence efforts.
1. Not involving all stakeholders
Once you know what the users need, you can look into developing and implementing the tools that will get the desired result. It is especially important to involve the people who will be implementing BI tools as they may have insight into what is needed, or how existing systems will fit/work with the intended systems.
2. Unclear goals
It would therefore be a good idea to sit down with the teams and stakeholders to see what they want, and set goals as a group. Then look for a solution that will meet these needs and goals.
3. Using the wrong tools
This will hurt them because the tool may be missing key features that parties want. Also, like everything else in business, BI will change over time and if your company's goals change and the tools can't keep up with it or support it, you could be looking at costly changes, or inefficient decision making support.
4. Team members lack skills
If the users don't know how to use the tools, data could be collected inefficiently, the wrong data may be collected and analyzed or the wrong outputs could be produced. What this means is ultimately lost profits for you.
These are the common mistakes made by business in regards to their BI. If you are looking for a solution that will help ensure that you avoid these mistakes and get the data and answers you need, contact us today to see if we have the right one for you.
Published with permission from TechAdvisory.org. Source.
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