As promised, I will begin to present the main elements of a successful Business Intelligence strategy, as its appear in „BI Best Practices Benchmark Report”. So...
Part 1: Topic Overview
As most respondents involved in Gleanster`s study said, the most successful organizations today don’t simply gather and record data, they put it to work. Why that? Because data helps them optimize everything: sales, margin, inventory and supply chains, identifies new product and market opportunities.
What BI Gleansight study („BI Best Practices Benchmark Report”) priority reveals is the fact that „BI initiatives stand out for their potential to improve corporate performance through better use of the data gathering by disparate systems”. And, furthermore, that „most BI vendors sell vertical applications that build on top of their base platform, providing a customizable starter set of analytics and dashboards for a given industry.”
What else shows this study? Well, take them in order:
1. Compared with many enterprise IT projects, BI requires relatively modest investments.
2. The foundational capabilities of BI tools are more basic, such as the ability to pull data on the fly from operational systems or analyze the contents of a more neatly organized data warehouse or data mart.
3. The every BI platform goal is to achieve „one version of the truth”, by gathering and analyzing data consistently and creating standard definitions for common measures of corporate performance.
4. BI practitioners seek to reconcile different data models and definitions in topical or divisional data marts and company-wide data warehouses.
5. BI practitioners promote standardization of the use of query tools and integration protocols wherever possible, and promote those as criteria for selecting new applications.
Therefore, the majority of respondents, who as I have shown in the first material are SVP/VP, Director, Manager & Staff, concluded that „Business Intelligence is as much about management discipline as technology.”