Business Intelligence (BI) – the ability to garner actionable, data-driven insights into the working of an enterprise – is revolutionizing how companies make decisions. It is not only making companies more efficient, it is enhancing the bottom line. In fact, business intelligence is such a major initiative for enterprises across the world that Gartner predicts the worldwide BI market will reach nearly $17 billion in 2016.
However, while data analytics and BI can yield better operational management, higher efficiency better processes, and help enterprises remain competitive or meet missions, BI tools are not always easy to implement. Here are three tips to consider when launching your BI platform:
You may still be able to make lemonade with rotten lemons, but I guarantee it won’t taste very good and may even make you sick.
Just like lemons for lemonade, for BI to be successful, you need to ensure your data is high quality. Otherwise, it won’t do its job. Lack of a data set selection, for example, can often limit users from receiving the proper data they desire or even having a comprehensive view of what their data is doing, which can be overwhelming. Frequently, collecting data via an integrator, such as a real-time sensor-based software, can result in data that isn’t “clean” as is can contain errors, anomalies or other unforeseen complications. Quality control is the first step toward implementing BI solutions for your enterprise and is especially important in critical infrastructure and government applications where data anomalies could have national security or safety implications.�
The amount of data generated today is staggering.