The unmissable signs to get going with business intelligence solutions

The Unmissable Signs to Get Going with Business Intelligence Solutions Business intelligence and Analytics need no introduction today. Seeping in into almost all domains and industries, this methodical approach for enterprises to make sense of their own data goes a long way in converting these techniques into the pulse of the new age.

Though there are very few enterprises today who might have not yet invested in Business Intelligence Solutions; there are unmissable signs to tell when a business needs to get going with Business Intelligence as soon as possible.

A Change is Inevitable When….            

The enterprise collects data, a huge amount of data, but there is no comprehensive platform to analyze and interpret it.

The quantity of this critical data increases so much that most of it lies unused simply because it is no longer manageable.

Comprehending the data stored, becomes too complicated because of complex processes.

Data is captured from a variety of sources and forming a cohesion between these pools becomes a very complicated task as there is no single process to do so.

Employees, partners, associates and customers; all the stakeholders across the spectrum of the enterprise expect to avail information; at times in the way they fashion, in a self-service mode.

The reports produced from various systems cannot be co-related anymore and fail to produce a complete picture.

Workflow and decision making are affected by the long delays in generating information from a variety of data sources.

The enterprise does not have quick and ad-hoc reports to analyze trends, competition and sales.

A real time picture of enterprise performances as well as workforce performances is not easily available.

The sales pipeline is not visible effectively and accurate information based on facts and figures is not available in the organization.

Leads, opportunities, and trends need to be manually comprehended.

Customer relationships are managed randomly without using contemporary approaches like personalization and the like.

Business Intelligence – Making Sense of the Big Data with the Endless V’s</p>

A sure shot way of turning challenges brought forward by these signs has to be Business Intelligence, Turning these huge volumes of disparate data into actionable information for the enterprise is no mean feat achieved by Business Intelligence Solutions making BI and Big Data interdependent and indispensable.

The multiple V’s of the Big Data game cannot hinder the results driven by BI. Volume The large volumes of data generated by machines, networks and individual dealings on systems like social media the volume of to be analyzed is massive.

Variety Forms of data both structured and unstructured generate from data sources like spreadsheets, databases emails, devices, videos, PDFs, photos, audio and more This variety of structured and unstructured data besides posing challenges for storage, also is trying to analyze and make sense.

Velocity The velocity at which data flows in from sources like transactions, machines, human interactions, communication networks , social media websites, mobile devices is not only huge, it is unimaginable.

The real-time insight into these huge data sets is achieved by BI. Veracity The deviation in data that is being stored and mined is very significant to the problem being analyzed by BI and needs to be handled with great care.

Validity This big data veracity couples up a new problem of the correctness and accuracy of data and purposefulness for the intended use. Evidently, correct data is a key to make the right decisions. So appropriate storage and processing defines the validity of such data and BI solutions need to reconfirm the appropriateness of the data to be put to use.

Considerations before starting to use BI & Analytics Though it sounds quite simple, straight and obvious that Business Intelligence is the call of the day; a practical approach needs to be adopted before initiating actions to roll-out a BI enabled solution for the enterprise.    

Analyze business requirements and have clear ideas of the information required Evaluate the data availability and maturity to estimate the feasibility of the exercise Technical requirements need to be finalized with a practical approach and both back-end and front-end investments need to be put under scrutiny before jumping in into this approach.

Collaboration with business centric partners to roll-out a Big Data & Analytics solution is the key to obtaining the correct guidelines to this solution.

On a Parting Note Business intelligence Solutions refine themselves every passing day and become omnipresent and integrated into almost everything all sorts of enterprises pursue. With increasing number of technological advances and the changing preferences of the users of enterprise data BI becomes the all-important technique waiting to be adapted by all.

Studies conducted by GE and Accenture suggest that Big Data, Analytics and Business Intelligence would be the driving force for the success of many enterprises in the coming years.

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