Implementing a Business Intelligence solution in your business should be done for one obvious reason: improved decision-making. This simple reason in itself is enough to drive many to turn to Business Intelligence but there are more supporting reasons as to why BI should be a top priority to you. BI will help you make sense of all of the data you are getting every day and it will also save you time. Unfortunately, sometimes these implementation projects fail, costing you money and wasting your time. So if you want to get your Business Intelligence project going, consider these 10 potential bumps in the road.
1. Planning Of course, planning should be the first step in an implementation project. Without enough upfront planning, your implementation project can quickly go belly up. If the implementation is inconsistent or the BI does not align with your business problems, it will be effort wasted. Getting over this first hurdle will put you well on your way to a successful implementation.
2. Support Lack of support can be a huge issue for BI implementation. Executive sponsorship is important but you also need to make sure all levels of management are on board. This will help the implementation to be carried out throughout the entire company and through all departments.
3. Data Quality Data quality can be gauged through an audit of your data. Doing this before trying to implement a Business Intelligence solution is a good idea and can help you figure out how to fix the data at its source. If your data quality is not good, the decision making from this data (through BI) will not be good either.
4. The Right Team Who in your company has an intimate knowledge of how everything works and where everything is stored? The organizational policies, business practices, history, user demographic, and customer demographic are important points to include in the BI implementation process. These people should make up the team that works closely with the BI vendor to make sure the implementation is really geared toward your individual company.
5. Training Business Intelligence has so many benefits, but if it isn’t used, it doesn’t do you any good. It’s important to train the users on the importance of BI and how to use the systems. The mass majority of the employees should be able to use BI in one way or another. If they are properly trained on the system, they will soon find out how much easier it can make their lives.
6. Adaptability Once you implement your Business Intelligence solution, that won’t be the last change you need to make. Your company will need to continually adapt with the evolving nature of BI. BI projects a cyclical and you will need to keep up with it over time. More insights for new aspects of your business can be had from this type of project.
7. Shopping You always want to do your homework before partnering with a BI solution. Make sure you shop around to find out what features and what prices are in the market. You also do not have to go through your existing ERP or CRM vendor. Your business needs should be met completely by your BI solution and customization should be an option.
8. Generic Solutions This goes along with our last point. You don’t want a solution that is too generic. If you are using a dashboard, it needs to be one that will suit your needs and handle the data you give it. A dashboard is appealing but if it is not planned out well, the figures can be inconsistent.
9. Scalability Your BI solution needs to be able to scale to support data volume, user volumes, and concurrency. If not, you could run into problems when it comes to the daily revenue generating activities. Remember, your product implementation could include million or even billions of records and the data your company acquires will only grow. Scalability should be a main consideration for you as you look into different solutions.
10. Cost The ROI of a BI solution is pretty great with the decision-making impact it brings. Considering that, you should budget accordingly. Your vendor selection and contract negotiations will have the biggest impact on your spend. As discussed earlier, leave room in your budget for making sure your data is of the highest quality which may include an audit. One of the ways Ryvit is different than other platforms is in our custom designed integrations. Because we run mirrored databases on integration objects and have the native capabilities to push and pull data from multiple applications, we can provide partners with insights across the enterprise. This opens up the opportunities for your business to provide meaningful metrics to executive teams, sales and marketing personnel, and even customers.