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) strategy. It takes hard work to develop a BI program that successfully produces data-driven business decisions.
The first challenge is defining a solid BI strategy that meets the needs of the business and delivers a return on investment. This is immediately followed by the challenge to secure the approval and funding for a Business Intelligence program. BI managers are faced with the task to find the right balance between agility, governance, 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.
In today’s business environment, data is everywhere. But what value is the vast amount of data a business collects if it is not correlated and transformed and integrated into daily business decisions? Leveraging your Business Intelligence empowers your decision makers to achieve the goal of continuous business improvement.