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Business Intelligence: Challenges and Key Learnings on How to Overcome Them

Aug 26, 2020 6:00:00 AM / by MAJIQ Marketing Team posted in Software, manufacturing execution systems, Business Intelligence, business analyst, business analysis, MAJIQ, Elixir, Paper and Pulp, Challenges, KeyLearnings

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As businesses struggle to understand and effectively use the growing volumes of data they are collecting, they face a wide range of challenges in designing and implementing an effective Business Intelligence (BI) strategyIt takes hard work to develop a BI program that successfully produces data-driven business decisions. 

The first challenge is defining solid BI strategy that meets the needs of the business and delivers a return on investmentThis is immediately followed by the challenge to secure the approval and funding for a Business Intelligence programBI managers are faced with the task to find the right balance between agilitygovernance, and useful data. Faster time to insight can provide a competitive advantage, but this needs to be balanced against data security and privacy concerns. Useful, accurate data is key so business users can answer the questions they have and not perpetuate inaccurate analysis. 

 

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