Strategy Business Intelligence – Business intelligence is a tool for turning raw data into useful insights. It allows you to collect data from various sources, organize it and then enjoy the analysis. Do you need it? Probably yes, because it’s the most balanced view you can get. But as you can imagine, embarking on such a complex endeavor requires some preparation, and we hope to help you with that. And if you already have some BI practices in your company, this article will help you set them up as well. Now let’s talk about your business strategy.
A BI strategy allows you to solve all your data problems and needs, create and maintain an integrated system. What happens when you start implementing BI without a strategy? Essentially, you are eager to get these graphs, but no one in the company knows why or how to use them. Here’s a useful example of a BI strategy before life.
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Previously, we published a guide to implementing BI practices in your organization. Now, we’ll detail one step of your implementation plan—documenting your BI strategy.
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Vision Why are you building a BI experience in your company and what do you want to achieve?
Tools and architecture. What dashboards and solutions do we want to build? For which regions? And how do they affect these areas?
So, when you look at your company’s corporate strategy, you have an idea of ​​what BI initiatives you want to start. This insight will help you choose the right people, who will use and maintain the chosen processes. You use software tools to support people and processes. And finally, you set the architectural plan for its development. Now let’s go into more detail about these steps. And we’ll start with businesses that already have some form of BI.
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To know where you are going, you need to establish a baseline. Say you know a few departments use analytics, but the data is often closed – marketing people don’t have access to sales data, and customer support tracks user feedback for their own internal purposes, or maybe there’s no analytics at all. All – basically, it works, but not so effectively.
So, the first thing to do is to talk to all the players in the current BI processes: users and the IT team, department managers and partners. As a result, you should answer the following questions:
Next, conduct a SWOT analysis to summarize what you found. SWOT analysis, one of the most important tools of strategy development, helps you to identify your main assets and challenges in the next phase.
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Vision is a combination of purpose and direction. There is no strategy without vision. This manifests itself in many important decisions, such as what data we will have access to or who will have access to insights.
Visualization also has a very simple goal: explain to people in your organization—who already have tools and processes they like—why they need to innovate and how the change will happen.
Our corporate vision for BI is to build and support an infrastructure that enables secure and authorized access to data anywhere in the enterprise. Our corporate standard for a BI tool is ________. We staff and measure our BI Competence Center based on end-user satisfaction surveys and successful deployments. A significant portion of our end-user community requires near-real-time access to data. That is why we have created such infrastructure to accommodate them. We currently support ___ users, representing ___% of our user population. Our goal is to increase usage by ___% by (date). We weigh the potential costs of using BI against the business value and ROI we receive. That way, we have a clear vision of our success that is measurable, accountable and defensible.
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Baer also points out that this approach helps managers whose only goal is to provide workers with affordable tools and return to “real work.”
Finally, the view is often accompanied by a BI maturity model – a measure that shows you how mature your strategy is. You can find many interpretations of the maturity model on the web, one of the most popular models comes from Gartner. According to them, there are five maturity levels for BI: naive, opportunistic, standards, entrepreneurial, transformational. Using these models will help you determine where you are going and what your future goals are.
Managing BI is defining and implementing the BI infrastructure. (Not to be confused with data governance, which ensures the consistent use of data within an organization.) It includes three components:
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Know the members of BI management, their roles and responsibilities, duties, goals, and relationships with various structures in your company. Engage people at all levels, from executives to end users, to bring all their perspectives to the table. So it’s not really a group of BI experts, but a board of representatives from different parts of the company.
However, larger businesses will benefit from the team of experts at the Business Competence Center (BICC). BICCs help identify data needs, establish a data governance structure, monitor data quality, and overall data integration processes. These are programmers, data scientists and analysts, specialists in relational databases and reporting tools. We recommend creating such a group if you have a number of professionals or the resources to hire them.
The BI lifecycle is the framework that supports the BI effort, or more specifically the architecture and tools used for it. Typically, architecture looks like a pipeline that starts with data sources (your ERP, external sources, etc.), followed by a data integration or ETL process where the data goes to data warehouses (data warehouses and data marts). is changing and lifted up. The data is finally displayed in dashboards and interactive tools. There are many architectural styles with different configurations of system elements.
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Selection of BI tools. Depending on your confidence level, you can get one end-to-end platform or build your own mix for each stage of the BI process. You can also find the perfect match based on price or whether you want to host on-premises or in the cloud. Use our guide to the best BI tools to help you with this task.
Create a data integration process. Identify data sources and make sure your BI tool can evaluate them. Ensure that the data is of high quality and streamline the data preparation process. Consider the structure of the data warehouse.
Give information. Determine what types of reports and dashboards your system will display based on end-user needs and KPIs. Use our guide for some data visualization ideas, where we also list some useful tools and libraries.
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Conduct user acceptance tests. User acceptance testing is an often overlooked but important process where you ask end users to perform multiple tasks and collect output data about system capabilities and performance. Then you prepare the test cases, schedule the test and select the necessary tools.
Training End users must be trained to understand the basics of the data and use the visualization platform. Previously, BI members were not skilled enough to train the management team to understand the steps involved in data transfer. Basically, know where there are knowledge gaps and make sure to fill them as soon as possible.
In addition to training, prepare to serve users and solve their problems. Organize the feedback process and decide how you can handle it as quickly and cost-effectively as possible. Having a user support framework means you cover them from three points:
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Data support – providing a knowledge base that allows users to find answers about input data: metadata, data purpose, metrics, data source, etc.
Device Support – If possible, select the device with end users, then set an agreed upon date to respond to issues and communicate what channels or contacts they can use to get support.
Business Support – Make sure end users not only understand the data, but know how to get value from it. Assign trainers in each department to teach users how to provide value through BI tools, what metrics and dimensions to look for, and how to identify data trends.
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Here, the roadmap is a visual document that shows the results at different stages of implementation in a timeline. With this step, you already have all the information you need to map and plan, you just need to set the time frame and deliverables for each task.
A roadmap may include only high-level tasks, such as “acquire a BI pod,” or be limited to “create a top ten competition list,” but a high-level overview will suffice for strategic mapping. Below is an example of such a road map, which has three quadrants. It has deliverables and milestones, and tasks are divided by groups.
Our guide to creating a road map should help you further, but we’ll reiterate a few key ideas here.
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The rationale for the strategy document is that it will be a reference point for the entire organization and will be used to deliver the strategy. What sections should be included in this document?
How do you measure?
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