Business intelligence is a highly popular technology, heavily in demand with IT leaders. Ironically, this hype may be the root cause behind the failure of some BI programs. According to BI Trends And Strategies, there are a few persistent mistakes present in business intelligence programs that can cause efforts to go astray. Companies that make the most of their BI investments are the ones that overcome such problems to draw value from the systems.
The news source reported that the data harnessing process has begun to move backwards at many companies. Rather than developing a plan for the data and sticking to it, employees simply begin furiously mining data and try to make sense of it later. This could lead to a dearth of intelligent, value-centric questions for the data and make resources' quality and quantity immaterial. TechTarget researcher Wayne Eckerson told the source that teamwork from the earliest stages of a project could be the answer.
"BI managers need to collaborate much more closely with business users, and that is a key critical success factor because the best teams put their developers side by side with the business people when they are developing and don’t have anybody in between," he said.
A scattershot approach is not the only problem commonly afflicting business intelligence projects. BI Trends and Strategies noted that sometimes companies with adequate analytics tools still fail to capitalize on the technology's potential due to poor data selection. According to the source, users with access to exterior data sometimes favor it at the expense of their own internal information, which can include email and other corporate files. Overlooked information is known as "dark data."
Business intelligence has spread through individual companies and entire markets allowing leaders to derive quick return on investment. According to Reseller News, the speed with which firms can make money from the systems has become one of BI's key selling points. BI executive Scott Turnridge told the source that the ability to cut down on report-making time is one of the value-adding features of analytics tools.
According to Turnridge, business intelligence is also better when it is shared widely within a company. Models like self-service and social business intelligence include several users working together to extract insights from BI. Turnridge advocated for dashboards for everyone from the highest levels of management to users in business sections.