Is Your Business Intelligence Working?
This year, nearly two thirds of business intelligence users are planning to increase their use of this software but when it comes to evaluating how well the business objectives for business intelligence and data warehousing have been achieved, the results and performance is no more than average! Only 6% of users feel all their objectives have been met very well, and 13% say their objectives have been met “well”. Why isn’t this figure 100%? And if on the whole, business intelligence isn’t meeting objectives and satisfying its users, why are organizations increasing their use of business intelligence?
Why are Organizations so keen to jump into using Business Intelligence?
In theory, a business intelligence solution will provide a business with a single dashboard of all its key info metrics, in real time, so that management can make informed decisions. Business intelligence is there to facilitate quicker business decisions, which can enable your organization to exploit opportunities and reduce costs. Obviously, it sounds like essential software to have in any business, so everybody is jumping on the bandwagon- but what is causing these low satisfaction figures?
Lets remember that your investment return should be outweighing the cost of your business intelligence software. Every day your organization is creating more data, and data growth tends to grow in a snowball effect. Your data needs to be stored for access later on, and you need to be able to comb through the data to gain insights. Linking your data warehouse with your business intelligence solution and you will have a powerful way to examine your data and make the best management decisions.
The problem is that traditional business intelligence solutions tend to fall down when we need them the most. Usability is a huge factor- you shouldn’t need to have a PhD just to operate a business intelligence software package, and you certainly should be able to access your data and get your answers quickly. Most business intelligence solutions to not allow you to do this. On the other hand, modern, rapid-fire business intelligence is catching on, and this is the reason that organizations are planning to invest more into business intelligence- the productivity and reliability of rapid-fire business intelligence is taking the business world by storm!
Click here to learn more about rapid-fire business intelligence.