7 Must Things For Successful BI Implementation!

Business Intelligence or BI tools are tech driven solutions meant to help humans understand the complexities of businesses better! Simply put it is a set of various techniques and tools aimed at boosting business performance and assisting executives in taking viable and futuristic business decisions. BI acts as a support system in analyzing heaps of data and passing on valuable information to executives, managers and all who matter at work. BI is indeed an amalgamation of different tools, methodologies and applications that collates internal and external data, prepares a detailed analysis, develops queries, creates reports, dashboards, and visualizes data and ultimately offers crisp/refined business information for further use in the organization. If implemented at the right time, BI solutions can turn the business around in a positive way. Since it offers critical insights into data and business matters, it is a key to manifold growth.

It’s better to know the bitter reality in advance that pursuing for BI implementation can result in waste of time, resources and money if the implementation processes is not addressed properly. Follow a seven-pronged approach to ensure smooth and successful implementation of BI solutions for your business process to harness the maximum potential of your IT investment:

1. Participation, analysis, planning

Believe me! Most companies start wrong and end up in a mess where the results are not desirable at all.

The first, foremost and most important step towards successful implementation of BI is the participation and collection of reports that comprise detailed analysis of your business from all stakeholders, executives, different teams and anyone directly involved with operations on a day-to-day basis or otherwise. This also involves identifying your company’s mission, vision, goals and models etc. alongside tangible and intangible resources, liabilities and tools. If you are able to place your facts and figures right, you won’t have to waste time later doing the same thing. Having done this, you can discuss and plan with your team of experts and professionals the future course of action.

Half the battle is won if you have got well informed plan considering the input and output!

2. Understanding ones role

Implementation of BI certainly demands coordination of different working groups within the organization. It is a team effort and can’t be left to a certain set of people alone. It definitely requires a united approach. Besides, every business unit should be briefed about the importance of their roles and responsibilities throughout the process. If coordination fails, implementation will never be a success. This step is equally important for different teams as it is for the overall business. With a certain amount of coordination, this step can be easily scalable.

It is a litmus test for the organization as well as teams within the organization. The success of business performance is directly proportionate to the success of this step.

3. Unanimity and consensus

While implementing BI every business should remember that bringing different operational groups on a common board is very important. This implies that business should, through this step, bring different teams together on various common ground and elicit a consensus. In simple words it means various functional departments should interpret the purpose of deploying BI on a similar line. Any deviations in their view points, ideas and approaches can be dangerous for the overall process. All departments should hence coordinate with each other and try to understand each other’s needs.

Break the ice at an appropriate time and ensure a smooth and hassle-free implementation of BI solutions.

4. Mapping and Data

It is imperative to remember that this step involves an extensive analysis of the available data at the backdrop of current business scenario. One also has to be careful in considering the final outcome at the fish line. Hence, a business should keep both starting point and end point on mind while proceeding through this phase. This step is also crucial in terms of eliminating any per-conceived notions, wrong concepts, and false beliefs etc. So that the rest of the process is easily phased out. One also has to get careful in handling data at this stage and ensure that it is organically stored. There is a direct connect between data andand one must take necessary measures to avoid faltering here.

GIGO Garbage IN Garbage Out – The output is solely dependent on input. Consider both while playing with data!

5. Selecting the right tools

This is again a very crucial stage in the implementation of BI process. It involves identifying the right combination of components that will ensure smooth integration of BI into the business. Some of the critical components that need to be identifies and categorized include data integration, data quality, data modeling, analytics, centralized metrics management, presentations (reports and dashboards), portals, collaboration, knowledge management, and master data management.

A well-defined architecture will certainly impact the performance post-implementation.

6. Selecting your tech partner

Needless to say that having a tech partner with adequate knowledge is important. However, a technology partner’s criteria are not only limited to that. While choosing the correct partner organizations should keep focus on the vendors in-depth knowledge on the subject matter and check whether they are equipped with latest software that will help you beat market competition. Also the capabilities of the tech partner in current business scenario, work environment, infrastructure and their financial viability should be duly considered and verified.

An expert and supportive companion can help you win a battle!!

7. Make note of the deliverables

It is important to check your own deliverables and make a note of that. However, what really needs to be checked is whether post-implementation BI is in a position to meet the desired business targets against the available business environment and context. If yes, then you are sorted and your BI deployment is a success! The ultimate goal of BI implementation is enhancing business opportunities and increasing profits.

Now, you cannot help it if you failed to get the desired outcome. To avoid it, it is always advisable to hire an expert agency for your BI initiative!