Business Intelligence (BI) provides your company with valuable insights. Yet many organisations stumble over its implementation. Tech-Wales will provide you with some tips to avoid Business Intelligence mistakes. These tips will help you get more out of your data and how Tech-wales can help.
Measuring is knowing. Data is playing an increasingly prominent role in business operations. Those who make strategic decisions based on objective insights will emerge as the winner of the competition at the end of the day.
This sounds very logical, but in practice it is less simple. Without a good compass, you can get lost in the data jungle in no time. Business Intelligence is the compass that helps you to keep a clear course. Thanks to BI software, you can see in an instant what you are doing and what you are not doing well today, and compare this with your main competitors.
Make sure you use the correct and all data
You can create visually beautiful reports, but if they are based on incorrect data, the results of the analysis are worthless in advance.
You have to see data as the foundation of your reports. This is the least exciting part, but it is the foundation that holds everything together. If your data isn’t of good quality, it’s impossible to get good insights using Business Intelligence and related software.
So everything starts with getting your data in order. Checking and cleaning up data is a job that takes time, but it is necessary. Next, the challenge is to centralise data from different sources in one place. Organisations must become aware of the data they have. Anyone who can automate the process of data gathering will gain better insights more quickly.
Have a clear reporting strategy
BI is not just randomly producing reports. A second cardinal sin that many organisations get caught in with BI is a lack of a clear strategic direction for reporting.
The reports that come out of the BI process can be very different in nature. One person benefits more from visual data, the other prefers analytical information. It is therefore important to set clear Key Performance Indicators against which the analysis must be tested and to use them consistently throughout the entire organisation.
If you don’t do this, you will soon be faced with a lot of reports that are not connected. BI should actually help you to provide clear reports to use for your business strategy.
Take your time creating BI reports
Haste and urgency is rarely good, especially with BI. The advantage that BI software is generally very user-friendly can also be a disadvantage at the same time. Almost anyone can put data into a platform and create a report.
In their enthusiasm, organisations sometimes lose sight of the basics. And then you will soon notice that it is much more difficult to make correct useful reports.
Don’t trust intuition but facts
Another challenge associated with implementing BI is convincing the most tenacious managers of its meaning. There are still more than enough managers who continue to rely on their intuition. After all, they once achieved success with it.
If the organisation continues to grow, it will eventually become impossible to see everything purely based on intuition. Then you often only know at the end of the year your organisation’s results . BI makes sure you know this at all times. You don’t have to completely let go of your intuition, but in the end data will always tell you more.
Tech-Wales Business Intelligence and Reporting Software
At Tech-Wales we can provide powerful Reporting and Business Intelligence Software for your business. We use Microsoft Power BI to make custom Business Intelligence software for your organisation. To prevent common mistakes our customer friendly engineers will set up the software for you and are always available for assistance. Our BI and reporting software also uses AI-driven insights into your business data to remove the complexity of your business data. Contact us today to discuss.