Business Intelligence Software - Impactful But Elusive

in Small-business

Business Intelligence has become a must choice for most businesses today and so is a huge increase in BI experts, BI solutions and Business Intelligence software. Even due to this immense growth the adoption of BI solutions is yet flat because most businesses find Business intelligence to be elusive and cannot tap its full capabilities or potential.

Seeing the positive side of BI solutions, they are very successful with significant business impact. While majority of BI solutions get stuck somewhere in between and do not realize the full potential that if offers like improved operational efficiency, improved customer services and satisfaction, improved revenues and much more. BI solutions are especially designed so as to enable companies to easily turn huge volumes of data that are collected and stored into more meaningful information. It allows managing the operations in the best way so the information is accessible readily and results into better and on time business decisions.

If we see to BI adoption then it’s stubbornly flat at 25% of employees. It should be double than this as per customer’s point of view. This rate is low because the people who benefit from BI do not have its access due to either budgetary constraints or due to gut feel decision-making or static spread marts.

Business Intelligence software would be adapted more now due to its highly engaging, user-friendly tools, lower costs, easy deployment and how can we forget the iPad. Successful and big companies have higher rate of BI solutions adoption and they continue to cite the untapped potential. Being constrained resource is one of the biggest challenges but BI solutions are much in demand even than IT can keep pace with it. Mostly business people fall back on the ease of prebuilt report. Companies give business owners a big role in BI, the more aligned business has it goals the more contribution of BI performance to the business.

Amongst BI tool modules that have been helping to provide self-service, the most rapid, widely adopted and easily deployed BI module is dashboards, it is ranked second while the first credit goes to Business query. During the survey of companies asking how they manage their BI tools only few out of many had a predominant BI standard. These days 69% of companies has BI standards out of which 54% are across the enterprise and 15% are by the department or line of business.

In case of BI it should not be considered as one-size-fits-all approach. BI is about managing investments that lower the support costs and enable people to focus on deriving insights via it. There are considerable amount of people who plan to increase their spending with their BI solutions and majority plan to increase the users for BI solutions. This year’s surveys show shifts in the vendors customers prefer to standardize on. Also this survey finds out that the notion that is up and coming vendors like Tableau and QlikTech are only for small businesses or departments. Present years’ surveys are not sponsored by vendors like the earlier one was. Thus we can find out detailed information, question on how much the tools are used and the satisfaction with full objectivity.

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Business Intelligence Software - Impactful But Elusive

This article was published on 2012/03/05