Business Intelligence Strategy – Business Intelligence is a way of turning raw data into useful insights. It allows you to collect data from multiple sources, organize it, and then enjoy analyzing it. do you need Probably yes, because it’s the most balanced view of the business you can get. But as you can imagine, starting this difficult task requires some preparation and we hope to help you with that. And if you have already introduced some BI processes in your company, this article will also help you to set them up. Now, let’s talk about your Business Intelligence strategy.
A BI strategy will enable you to address all your data concerns and needs, develop an integrated system, and maintain it. What if you start implementing BI without a strategy? Basically, you are very focused on getting those charts but no one in the company understands why and how to use them. The following is a snapshot of the before and after life of a BI strategy.
Business Intelligence Strategy
Previously, we posted a guide on implementing BI systems in your organization. Now, let’s go in detail to one of the stages of your implementation plan – registration of the BI strategy.
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The view. Why did you build a BI function in your company and what do you want to achieve?
Equipment and construction. What mirrors and solutions do we want to build? What area? And how does it affect the area?
So, when you look at the company’s corporate strategy, you can imagine what BI initiatives you want to start. Then that insight helps you choose the right people, who will use and sustain the chosen methods. To support people and processes, you use software. Finally, you define the architecture of the development. So, let’s break down the steps. And we will start with businesses that already have some form of BI.
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To realize your goals, you must set a baseline. Say, you know that several departments have used analytics, but the data is largely muted – marketers don’t get sales information, and customer support tracks user feedback for their own internal purposes, or maybe there is no analytics at all – original as , it seems to work but it is not clear how effective it is.
So the first thing to do is to talk to all the players in the current BI system: IT users and teams, department managers, and stakeholders. As a result, you should find answers to the following questions:
Then, do a SWOT analysis to organize what you find. A SWOT analysis, one of the most important tools for building a strategy, will help you identify your key assets and concerns for the next phase.
How To Build A Successful Business Intelligence Strategy?
Vision is a combination of purpose and direction. There is no strategy without vision. That manifests itself in the form of many important decisions, such as which data we will receive or who will receive views.
The vision also has an unusual goal: to explain to the people in your organization – who already have the tools and processes they like – why they need the new one, and how the change will happen.
Our corporate vision for BI is to create and support an infrastructure with security and access to data stored anywhere in the business. Our company’s standard BI tool is ________. We hire and measure our BI enablement center based on end-user satisfaction surveys and successful implementations. A significant part of our end user community requires access to real-time data. Therefore, we provided the financial infrastructure for them to live. We currently support ___ users representing ___ % of our user base. Our goal is to increase usage by ___ % on (date). We weigh the potential costs of increased use of BI against the business value and ROI we receive. As such, we have a clear vision of our success that is measurable, accountable and sustainable.
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Biere also noted that the vision described in this way will help resist the bosses whose only goal is to give workers cheap tools and get back to “real work.”
Finally, the visualization is often accompanied by a BI Maturity model – a scale that tells you how mature your strategy is. You can find several interpretations of the network maturity model on the web, one of the particularly popular models is from Gartner. According to them, there are five levels of BI maturity: Ignorant, Opportunity, Standards, Business, Transformation. Using this model will help you identify areas of your progress and what your next goals are.
BI management is about defining and implementing 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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Define the members of BI management, their roles and responsibilities, their functions, their objectives, and their relationship with different structures in your company. Engage people at all levels, from administrators to end users to convey all their perspectives. So, it’s not really a group of BI experts, but a board of representatives from different areas of the company.
However, larger companies will benefit from a pool of experts from the Business Intelligence Competence Center (BICC). BICC helps identify data needs, build data management structures, monitor data quality, and general data integration processes. These are programmers, data scientists and analysts, specialists in data collection and reporting tools. We recommend that you create such a team if you have a pool of experts to support or resources to hire.
The BI life cycle is the structure that supports the BI effort or more specifically the structure and tools used. Typically, the structure is like a pipeline starting from the data source (your ERP, external sources, etc.), then following the data integration or ETL process, where the data is transformed and loaded into the database (data warehouse and data mart) before. The data is finally displayed on the dashboard and interactive tools. There are many design styles with different styles of system elements.
Five Steps For Building A Successful Bi Strategy L Sisense
Choose a BI tool. Depending on your level of confidence, you can get an end-to-end platform or create your own integration for each phase of the BI system. You can also find the best match in terms of price or depending on whether you want to deploy on-premise or in the cloud. Use our guide to the best BI tools to help you with this task.
Create a data integration process. Define data sources and make sure your BI tool can evaluate them. Ensure high quality data and establish data preparation processes. Consider the architecture of the data warehouse.
Validation of data presentation. Define the types of reports and dashboards your system will display based on end-user requirements and KPIs. Use our guide for data visualization ideas where we also list useful tools and libraries.
How To Create A Business Intelligence Strategy: Step By Step
Perform user acceptance tests User acceptance testing is an often overlooked but important process, in which you ask end users to perform a series of tasks and gather productivity information about system usage and performance. Then you prepare the test cases, select the test time and select the necessary equipment.
Do some training. End users must be trained to understand the basics of data and use the visualization field. Before that, senior members of the non-BI management team must be trained to understand the data transformation phase. Basically, find out where there are knowledge gaps and make sure to fill them as soon as possible.
Apart from training, be prepared to serve users and solve their problems. Set up a feedback loop and decide how you can react as quickly and effectively as possible. Having a user support model means you cover three points:
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Data learning support – provides a knowledge base to allow users to find answers to the following data: metadata, data purposes, metrics, data sources, and so on.
Device support – if possible, select the end user’s device, then set an agreed time frame for problem response, and contact the channel or contact they can use for support.
Business support – ensure that end users not only understand the data but also know how to get value from it. Assign consultants to each department to help users learn how to provide value for BI tools, metrics and metrics to look for, and how to determine trends in data.
What Is A Business Intelligence Strategy And 5 Keys To Success
Here, a roadmap is a visual document that shows the results of work at different stages of implementation over time. In this step, you already have all the information you need to organize and schedule the map, you just need to set the time and deliverables for each task.
A roadmap may only cover high-level activities such as “BI Vendor Track” or summarize it as a “Top Ten Play List”, but for strategic mapping a high-level overview is sufficient. Below is an example of a road map covering three areas. It has activities and developments and activities distributed by the group.
Our guide to building a roadmap should take you further, but we’ll repeat some of the key ideas here.
Business Intelligence & Decision Support Tools
The rationale behind a strategy document is that it will be a point of reference throughout the organization and will be used to present the strategy. What sections should be included in this document?
How will you measure it
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