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5 Best Practices When Implementing Business Intelligence in Your Business

Business Intelligence (BI) is something that continues to gain more and more space in companies’ modern reality, enabling them to collect, analyze and use data strategically.

This helps companies analyze their contexts, business indicators, scenarios and information that lead to insights, showing what needs to be improved or enhanced.

In addition, it can solve cost and productivity problems, helping the company achieve greater overall performance.

Not to mention the possibility of developing differentials and having a greater competitive advantage over the competition.

The importance of implementing BI in your business is huge because of its recognized contribution to manage activity better, base, optimize decision-making processes, and to achieve better results this way.

No wonder, Gartner estimates that this year BI and Analytics will be responsible for handling up to $ 18.3 billion, an increase of 7.3% compared to 2016.

Many companies are already aware about this, seeking to improve tools and resources they have or can have to enable its implementation with this purpose!

But, after all, how to do this successfully? What are the best practices when it comes to implementing Business Intelligence in your business?

Check it out:

1 – Prepare the culture of your company to adopt BI

It’s not since today that the cultural element has a strong influence on the performance of teams and the way all employees act, so company can achieve a common goal in the end.

Engagement has always been a very decisive factor, in fact, for any strategy to work.

Trying to implement Business Intelligence in your organization is not so different.

As much as you try to bring technology tools to implement BI in your company, your initiative will only succeed if the team collaborates, being culturally prepared to welcome it as an ally.

The tendency is that the so-called “self-service culture” becomes even stronger in companies, so that there is a partnership between IT and other business areas, for data sharing and collaboration.

That is because, if the data does not get to the right place or are ignored a lot can be lost in the overall analysis of what they mean.

Which means, joining forces with everyone, understanding how the procedures involving the use, registration and availability of information work, its importance for the company. It is easier not to exclude any process from the desired standard nor to carry it out in parallel, ensuring that the applicability of BI is as complete as possible and that the maximum benefits are extracted from it.

With this, the company only has to win.

Teams become able to act better with data, executives are able to make decisions with a broader view of information and scenarios and the company structures constantly enriches its intellectual property. Its arsenal of data can be crossed to constantly generate reports, indicators, insights and answers.

2 – Try to demonstrate value

We all know that one of the biggest obstacles a company faces when investing in new tools that assist in strategic analysis with the use of data is often defending the budget with CIOs or even CEOs, making them see new measures as investments and not as just another cost.

In fact, according to a survey sponsored by Qlik, it has already been found that 83% of selected companies agree that performing analysis of information increases their annual turnover by at least 5%.

If placed within the reach of the users correctly, received support from the company and endorsement of high management, greater are the chances of Business Intelligence to evolve even more in it.

Showing these results quickly, as they appear in the company’s daily life, is also valid so that from the beginning they perceive the difference (both in productivity and in the level of correctness of the decisions made, by returning the performance indicators themselves – KPIs – that may already exist in the organization).

3- Find a Good Supplier

It is necessary to emphasize the importance that, once you are aware of the need of having mechanisms that help analyze data and doing more with them, start looking for a supplier that offers you confidence in the process, as well as in solutions.

It is very important not only to find good tools but also to know how to apply them correctly and have support from those who really can offer you the latest technological equipment.

At this point, it is worth remembering that there are several tools available to implement data analysis and generate intelligence from them.

The choice, however, also depends on a good explanation to make the best decision and knowing how to choose the best BI tool for the business.

Then understanding how to choose the best supplier, which most likely follows trends, is something that helps the company grow with the best and most updated tools in the market.

4- Integrate BI continuously to the company with security and governance

BI is not a limited sphere within the organization and it often does not even have a closed definition. It can be a concept integrated with several actions that the company executes, aiming at results based on the value of its data, always adjusting its use towards the needs of the company’s current framework.

Among the various perspectives of Business Intelligence, we can highlight the application of advanced analysis and even converge with Big Data.

In all this, however, one point is extremely important: the question about security related to the information that will be “manipulated” and their strategic use.

Therefore, it’s extremely necessary to rely on tools that offer a high degree of reliability when operating with information, so that they can maintain the quality of the verified data (including origin) and the security both in its storage and in its distribution, availability and use.

IBM solutions, for example, stand out precisely in the security area. The Watson platform itself, is a new bet for cognitive computing, it has built-in features for cyber security.

Studies point out, that more and more companies rely on the so-called cognitive computing to block cybercriminals. Sixty percent of professionals interviewed by IBM at the time said that this emerging technology could slow down the problem.

According to what was seen in IBM InterConnect2017 in March, the company’s security is consolidated as a highlight in the technology area: from chips used in servers to first-line software and infrastructure implemented in IT environments, which gives greater management.

In addition, we now have the differential of cognitive computing in this struggle for security and greater control of scenarios involving data.

In other words, not only with regard to infrastructure itself but also with intelligent mechanisms for detecting threats. It is important for the company to have partners who have the potential to build a robust environment and also to “armor” it by identifying threats quickly and acting promptly to protect their data against evils such as even the dreaded ransomware.

5- Look at who has already tested

Finally, another thing that can help you a lot in visualizing how much BI can add to the company and how your application can be is to note some important points that can be drawn from successful cases with it.

This step can also help you base the decision to invest, as discussed in the second topic, contemplating the reality of some companies beneficial changes brought up and proven.

Among some well-known success stories, we see organizations from different segments benefiting from BI. Among the most commonly used practices are, for example, the adoption of business intelligence applications to generate performance reports and advanced analyzes of the programs conducted by such organizations.

Through dashboards, Business Intelligence tools help in the identification and agile manipulation of informations needed.

Being aware of anyone who has already tested such tools and the results achieved can be a good way to understand which good practices that help to thrive in intelligence and service improvement with BI.

And so, do you already know some of the best Business Intelligence practices to make your business grow even more? Do you have any doubts?

Aproveite o espaço para interagir conosco ou entre em contato com a Kyros e descubra como podemos te ajudar na prática!

Take advantage of this space to interact with us or contact Kyros and find out how we can help you!

Postado por Kyros Tecnologia em 21 June, 2017


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