Lack Of Agility & Flexibility Can Lead To Unsuccessful BI Initiatives
In the last number of years, Business Intelligence has almost become the new “buzzword” and is certainly a hot topic! Experts predict that in 2011, most companies will again be focusing their software investment plans on Business Intelligence. In fact, in a recent Forrester survey, more than 49% of companies that responded have concrete plans to implement or upgrade their use of BI software in the next year. However, investing in BI technology does not necessarily mean success. The survey has found that enterprise Business Intelligence maturity levels are far below average. Considering the amount of money that Firms Spend on Business Intelligence, can we define what contributes to these low maturity levels?
Download the 2011 report into BI trends today – click here.
Implementing BI requires using best practices and building upon lessons learned
Learn from your mistakes: using best practice and learning from past mistakes can make huge contributions to successful Business Intelligence projects, rather than relying on technology and architecture alone. End-to-end Business Intelligence implementations require closely coordinated integration efforts to combine together components like data sourcing, integration, modeling and reports (to name a few). It can also be tricky to define BI requirements for the future, because business and regulatory requirements can change significantly. Opinions on how to use metrics can also vary. Because of this, creating a Business Intelligence strategy can take years of experience.
BI technologies have not kept up the pace with Business realities
Think of the past ten years: most enterprises have pretty much solved the problems that have plagued typical BI implementations back in the 90’s. Remember data information silos and unstable BI technologies? While early BI technologies are now industrial strength solutions (they are function rich, scalable, and robust) .. they have still failed to address the one simple, pragmatic business reality: the need for flexibility and agility. Businesses have come to realize their standard Bi approaches are not flexible or reliable.
So, how can we be sure to implement a flexible and reliable Bi solution?
Contact MXI today for quality advice on the best BI solutions available. You can also download this report into 2011 trends in Business Intelligence.