Learn How Your Company Should Go about Implementing a BI Practice and Developing A Strategy
Business Intelligence (BI) can be a complex discussion to have in your organization, but it doesn’t have to be a complicated one. The first question you have to ask yourself is how your business should go about implementing a BI practice. Since there are many factors and decisions are involved, thoughtful assessment and planning should take place. Generally, this is how organizations proceed once a BI need is established. They assess what they currently have and then they:
- Identify existing reporting functions
- Identify technologies being used to support functions
- Interview key people involved in running these functions
- Establish cost, licensing, and maintenance agreements
After assessment is complete, they start to determine goals. Those goals are used to start developing their BI strategy that supports overall business strategy by filling in the following:
- Roles and responsibilities
- Quality levels
- The Toolset
- The Architecture
Once they finalize their BI strategy, they need create KPIs, organize their execution plan, assign/reassign roles, update their technologies, determine whether to build in-house and/or outside consultants and get stakeholder sign-off. They then implement the BI strategy. “Before immersing yourself in potential BI products and services, step back to see the big picture – your strengths, weaknesses and intended achievements,” says Alvin Yang, Vice President of Beyondsoft. “Then, you can determine the optimal solutions for the situation.”
In order to do that, we’ve created a comprehensive guide to help you understand the Fundamentals of Business Intelligence. In it, you will learn how data works, how it can be analyzed, and how to align data analysis to your business objections.
Stay tuned for more information on building solid KPIs shortly!