Business Intelligence and Analytics is as necessary for small businesses and start-ups as it is for a large enterprise. There is no room for a misstep or a market error in today’s competitive environment. Whether your business is local or global, all online or brick and mortar, government, public sector or consumer focused or playing in a very specialized market, you and your team need business intelligence and analytics tools.
A great business intelligence tool does not have to be complicated or expensive. If you want to do it right, you should strive for data democratization and look for a BI solution that is designed for business users with average technical skills. BI software that is meant to be used by your business users will allow for quick and accurate decisions, ensure that everyone is working with the right information.
If a business is trying to implement self-serve business intelligence tools, it must look at its organization, processes and culture to determine whether it is prepared to roll-out data democratization and provide direct access to business intelligence tools. Changes in the environment and the expectations can help to empower business users and hold them accountable and to encourage data popularity and data sharing to work toward transformation of business users to Citizen Data Scientists.
Business intelligence and analytics are necessary tools for every business today. No business manager or team member can make decisions in vacuum and business intelligence and analytics tools are key to fact-based, data-driven decisions that will ensure positive results, help the business to avoid missteps and critical errors and allow the enterprise to anticipate changes in the competitive landscape and in customer buying behavior.
What exactly is deep dive analytics? It might help to think of deep dive vs. simple analysis as a comparison similar to a one-ingredient dish vs. a dish with multiple ingredients, flavors and aromas. Which would you rather eat? Exactly! You want something that provides all the flavors and the experience you need in dining.
Business intelligence and analytics is not just for data scientists or IT professionals anymore. If your business is going to be successful, it must compete and it must solve problems, find opportunities and plan with accuracy. There is no time for a misstep in the market!
What is business intelligence? It is quite simple, really. Business intelligence is ‘intelligence’ about ‘business’. Having said that, we cannot really presume that ‘intelligence’ is simply data. Data on its own tells us little and can, at times, actually confuse the very issue you are trying to understand. In order to get to the heart of the business intelligence definition it is useful to consider that the word ‘intelligence’ as defined in the dictionary as ‘the ability to acquire and apply knowledge and skills’.
Your business is excited about the prospect of implementing a self-serve business intelligence solution! You have heard your colleagues talk about the benefits of data democratization, and you know your business users will take full advantage of BI reporting, social BI, and mobile BI, and that they understand the importance of business intelligence and analytics. You want all the advantages offered by a great business intelligence solution, the BI dashboard, KPI software, and all those useful Business Intelligence Tools
How can any business today be willing to accept a BI solution that has little or no mobile capability? Not only do most businesses have staff members on the road, but most businesses have staff members who work from home at least part of the time or those who extend their working hours outside the office.
Business intelligence and analytics has changed drastically over the past five years. Data analysis for business is more democratic today and that is good for the organization. By extending access throughout the organization, the enterprise can provide a solid foundation for confident decision-making. Business users can have access to sophisticated business intelligence software and use business analytical tools without the advanced training of a data scientist, an analyst or an IT professional.
