Hi Folks,
This post is part of Series Business Intelligence – Tools & Theory
Currently running topic for this series is listed as below :
Series Business Intelligence – Tools & Theory
>>Chapter 1 : Business Intelligence an Introduction
>>Chapter 2 : Business Intelligence Essentials
>>Chapter 3 : Business Intelligence Types
>>Chapter 4 : Architecting the Data
>>Chapter 5 : Introduction of Data Mining
>>Chapter 6 : Data Mining Techniques
>>Chapter 7 : Introduction to Data Warehousing
>>Chapter 8 : Different Ways of Data Warehousing
>>Chapter 9 : Knowledge Management
>>Chapter 10 : Data Extraction
>>Chapter 11 : Business Intelligence Life Cycle
>>Chapter 12 : Business Intelligence User Model
>>Chapter 13 : Business Intelligence Issues and Challenges
>>Chapter 14 : Business Intelligence Strategy and Roadmap<You are here>
Continuing from my previous post on this series, If you have missed any link please visit link below
We are going to Cover the Following Points in this article
- Business Intelligence Strategy and Roadmap
- Planning to implement a Business Intelligence Solution
Business Intelligence Strategy and Roadmap
By now you must be familiar with the challenges to build a successful BI. In this unit, you will learn about the strategies involved in a BI solution. We will discuss various factors that need to be taken in to account while devising a plan for a BI.
Business Intelligence can be planned by analyzing the requirements so that the one appropriate to the company can be chosen. Before implementing the Business Intelligence to the organization, there is need for real-time integration tools which comes with the real time data replication engine. Planning to implement a Business Intelligence in the company, may also have graphic visuals so that the overall view of the desired function can be obtained. Analytic dashboards have now become a necessity and can also supplement the statistical and the numeric information.
BI can enhance the overall performance of the company.. The data is often considered as the second most important resource a company can have where the company’s most important asset is considered to be its people. BI also expedites the decision-making, by acting quickly and correctly on the information before competing businesses can often result in competitively better performance.
BI allows firms to gather the data on the trends in the marketplace and come up with modern products or services in prediction of the customer’s changing demands. The TCO management gives one set of measures which will help to understand the value of BI.
Planning to implement a Business Intelligence Solution
The companies are relying more and more on the timely and accurate information so that they can stay in today’s competitive market. The Business Intelligence solutions and the real time data charts are highly efficient in getting the correct kind of information at the ideal time. The implementation of the Business Intelligence can be planned by analyzing the requirements appropriate to the company can be chosen.
Planning to implement the Business Intelligence solutions is more than implementing technologies and tools related to the solution. It has to be ensured that the system gives the necessary results and at the same time be able to refresh the real time data marts.
There will be need to access fast the real time information. For example, a bank might require responses within milliseconds while the other settings may accept it in few minutes. The time to update data has to be analyzed and based on which the near real time solution for the business has to be chosen.
All the users in the organization should be educated about the capacities of the system. Before implementing the Business Intelligence to the organization, there is need for real-time integration tools which comes with the real time data replication engine. The cost of this kind of system is quite high and an alternative to this is the database native replicator. The database triggers can also be used in the place of real time systems. These are easy to afford and requires low maintenance. The changes captured are then posted into a separate area of staging from where the real time integration engine will be able to read it continuously.
Planning to implement a Business Intelligence in the company, may also have graphic visuals, so that the overall view of the desired function can be obtained. Analytic dashboards have now become a necessity and can also supplement the statistical and the numeric information. The real time information obtained through the Business Intelligence system should be delivered to almost any place. In the market, there are several gadgets which will route exception alerts and the dashboard reports to the web- enabled devices like the PDAs1.
While implementing the Business Intelligence solutions all these things should be kept in mind for the business needs to be met effectively. The system should be planned and designed and the application should be given to qualified and experienced solutions providers. This way the benefits of the business can be reaped.
While choosing BI the companies will have to first analyze the way the decisions are made and also consider the information that the executives require to facilitate more confident and more rapid decision making as well as how the information should be presented. Decision making discussions will tell the information companies to what needs to be collected, analyzed, and published in the BI systems. Good BI systems will give the context. It is not sufficient to report the sales were X was done yesterday and Y was done a year ago the same day. Like other technologies, BI will not give returns if the users feel threatened or doubtful about the technology and hence will refuse to use it as a result.
The seven steps to be followed while rolling out the BI solutions are:
1. Make sure that the data is clean.
2. Train the users effectively.
3. Quickly deploy and adjust while progressing. Huge amount of time up front developing the “perfect” reports should not be spent because the needs evolve as the business evolves. Deliver the reports which provide the most value quickly and then tweak them.
4. An integrated approach should be considered while building the data warehouse from the starting. Getting into unwanted data strategy must be avoided.
5. The ROI should be clearly defined before starting. The specific benefits that have to be achieved should be outlined and then a reality check has to be done every quarter or six months.
6. There should be focus on the business objectives.
7. Business Intelligence software should not be bought just because there is a need. Deploy the BI with the idea that there are numbers which has to be found and roughly understood where it is required.
Hope you will like Series Business Intelligence – Tools & Theory series !
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