05 Nov B.I. at the right moment and at the right place
While the business intelligence (BI), data warehousing and analytics community seem to be at the center of attention ; BI solutions providers should always keep in mind to deliver the most useful information to decision makers at the right time and in the best way possible.
Business-related data has been around since Business has started : FOREVER.
But our ability and efficiency to collect, store, investigate and make use of this information has evolved drastically since the 80s. More recently, the “Big Data” revolution has given the ability to a larger group of people to use their past experience to build their future.
A BI gap which needs to be filled in
In a recent study, made by Deloitte, shows that 93% of the C-level executives believe their companies are losing revenues opportunities by not exploring and analyzing the data they collect. And over 1 out of 2 surveyed persons think they don’t “translate” their data into insights they can use.
There are 2 main reasons to that : the information is either not useful or the usefulness is not obvious.
So how can we bring back the confidence of senior managers in BI and analytics ? By understanding the need of Executives and the different manners to improve their effectiveness. In another word, being able to make alive the “I” of BI…
The Intelligence the BI needs
We have underlined the importance of meaningful and useful insights.
Some key steps can be taken in order to improve the value of data :
- Any Executives, even the more skeptical ones, are always listening when you tell them they have an opportunity to save money or grow revenues. Set up a pilot program.
Find a C-level officer with a passion for data and a need to solve his/her project first. If the success of the operation is showing, you will probably find a conference room full of converts who will be rushing to adopt the solution.
Bilbeo has a free trial period which can reassure any stakeholders about its efficiency : FREE TRIAL
- A solution will definitely bring some values but it has be balanced with its price. To meet up with the previous point, while doing the POC you will experience the efficiency of the solution, ask yourself how much the solution bring to your business ? Is it worthy ?
We have detailed our prices here, we have jept in my mind company’s priorities and the added value brought.
- The solution should give to the user, what they want – whether it is a BI professionals, CFO or the Regional Head of Business unit.
You can find Bilbeo’s features by clicking on this link.
- The BI solutions should bring a solution to easier the understanding of data : it needs to be easily accessible, understable and interesting. Like a story you would tell to your kids.
Check out Bilbeo’s platform by clicking on the Demo It page. Don’t hesitate to use it on different devices.
The comprehension of data should be your watchword
Today, numerous tools exist that can enhance the manner in which data is presented. Visual analytics software offers a variety of often-interactive techniques and options that can automatically generate compelling charts, graphs and even 3-D models to dynamically present the information.
Many executives are already embracing real-time dashboards and portals that give them the freedom to “pull” the data that they want to their desktop or tablet, rather than having it pushed to them. True BI comes with information that is timely, fact-based, and relevant, and what could be more effective than on-demand access to data that is offered in a useful and accessible format?
Perhaps the biggest difficulty in making BI meaningful to executives is doing too much. If we gather, store, analyze and present data that is outside the scope of what decision-makers need to solve a specific problem, the result is confusion rather than insight.
Ultimately, BI, analytics, big data – whatever you choose to call it – is only useful if the information provided impacts decision making in a manner that adds value to the organization. That requires a concerted effort to integrate the data and its delivery into the tools, formats and timetables that executives use and demand.
Bilbeo tools have been developed in this scope, in concertation with C-executives of Top companies to create the best added value possible.
Bilbeo website : www.bilbeo.com