Five challenges of modern BI!
The goal of all BI investments is to bundle all relevant data and information and share it so that users can make more well-founded decisions. Your company’s ability to achieve this goal, however, depends on many different factors, including:
- How do you get all relevant data?
- How good is your data and information quality?
- Who requires which information?
- How do you deliver information where your colleagues need it?
- How do you empower business users and managers to make data-driven decisions?
Five steps to the BI goal
1. Data management
Whether your data is in digital or analog form, it lays the foundation for business decisions. Yet different types of data are emerging in different locations and formats. To utilize this information, you will need to tap it, pool it, and refine it.
- Bundle different source systems quickly and easily
- Eliminate data silos for good
- Ensure high levels of data consistency and quality
2. Data modeling
To extract information from data, you first need to create correlations between the data and place it in a common context. For example, did your marketing campaign for the product launch really trigger new sales? To answer that, you need to pool together various types of marketing and sales data. This added value that transforms data into information is where analytic data models come into play.
- Build analytic data models quickly and easily
- Define context correlations among your data with ease
- Maintain a clear overview of the data in your BI system
3. Data governance
As the amount of data grows in your company, the more important it is maintain control of it at all times. To secure your data, ensure its quality, and minimize the risk of false interpretations, you need a suitable authorization model and regular monitoring.
- Maintain current, high-quality data
- Establish reliable authorization concepts – across the enterprise or for specific application scenarios
- Monitor the usage of your data and report structures
4. Data distribution
Providing users with relevant data and information users when and where they need it is key to establishing an analytic corporate culture and building an information system for the future. Information can only fulfill its potential when people refine into knowledge and take respective actions. At this stage, teamwork plays a very important role as well because two pairs of eyes do see better than one.
- Select the right distribution type for each situation from a wide range of options
- Receive information automatically on a set schedule or get the latest data with a click of a button
- Discuss your analytic results and findings with team members quickly and easily
5. Data visualization
Each company has many different types of BI users. BI front ends, therefore, need to support a complete spectrum of needs, from business analysts and report designers to planners and basic report consumers. By supporting different user types with tailored information and analyses, you can boost the decision-making capabilities across your company as a whole.
Cubeware Solutions Platform C8