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5 Business Intelligence Mistakes That Can Cost You Dearly

Implementing business intelligence in your organization can be a hard job. Regardless of the company size and niche, it takes time, resources (and failed trials) to get new tools, learn new processes and set in place strategies that will get the job done.

If business intelligence tools are implemented in the right way, the ensuing analytics environment will end up speeding various operational workflows. But, as much as this estimated $14 billion industry is making inroads in various organizations, there are still challenges that go with it. According to Gartner, “There still remains a 70% likelihood that a BI project will fail to meet expectations.” And that means it is very important to learn the various mistakes that hinder the successful implementation of BI solutions.

  1. No specified leadership – Leadership vacuum can be a huge tragedy when it comes to implementation of the business intelligence tools in your organization. Without proper leadership, there are bound to be conflicts, especially when problems arise. Successful implementation of BI solutions within the organization does not happen overnight. You need a leader to oversee the process and assign tasks to every member of the team. That way, there are blame games in case something goes astray.
  2. Failing to meet user requirement – Failure to consider user preferences can be a huge big mistake. Remember, employees are the main users who interact with the system every day. Business intelligence systems may cost millions and yet provide little or no value because of the mismatched expectations of users. For your business to succeed, its BI solution needs to be accessible anywhere and anytime. It should be intuitive and easy to use if you want your end-user to enjoy working with it and truly benefit from it.
  3. Neglecting the importance of data quality and privacy – A 2010 survey by Information Week found out that about 55% of CIOs cited data quality as the most significant barrier to the successful implementation of BI solutions. It’s still one of the biggest challenges today.
    What many employees are not aware of is that data quality doesn’t have to do with only deleting supposedly ‘bad’ or ‘poor’ quality or inaccurate data. Retaining good quality data has everything to do with keeping comprehensive data that is consistent, coherent and complete. And that is where a BI system comes in.
  4. Insufficient Training – While pumping resources into training might sound like yet “another expensive undertaking,” it is worth the cost. Lack of proper training hampers effective implementation of business intelligence tools. It is foolhardy to commit to a system that not even a single person in your ‘experienced’ team can utilize well. That means, the rest of the employees in the company with have a hard time incorporating it in their day to day operations. What results is pandemonium. Before getting the software, make sure you have trained your team in advance. Invest in training. Train your team on how to effectively implement the BI solutions. Train your employees on how to use the BI tools to improve the efficiency of various processes in the organization.
  5. Not having a business intelligence policy – Every company needs to develop a clear set of goals and a policy geared to achieve some targeted results. It is from these goals that you will experience company-wide access to trusted information and also be able to respond with more agility to the changing business environment.

Summing it up

The implementation of successful BI solutions can be an arduous task. That’s not a secret. A number of challenges are likely to crop up along the way. And that means it is very important for you (and your team) to be suitably equipped with the expertise to get the work done.

Again, it is very important to have an able leader who will supply the team with the will to ensure that proper BI implementation takes place. Involve other people. Involve your employees. Measure progress and also put in place policies and strategies that favor successful implementation of business intelligence tools. By keeping in mind the various bottlenecks that can occur, you can take the appropriate steps to avoid the same. The implementation of BI solutions will become easier and smoother.

About the Author

Nilam Oswal is a Software Analyst at SoftwareSuggest, as well as a gadget enthusiast. When she’s not hard at work, she can be found wandering, reading and just generally having a good time in life. She blogs about CRM software, lead management system, recruiting tools and the latest software updates.

 

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