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With passing years and exponentially growing types and numbers of BI tools, the possibility of failure which comes with ending up with users who do not understand the solutions or selecting the wrong weapons for business have also emerged.
Following is a list of the top nine mistakes which firms make when it comes to choosing and implementing business intelligence solutions.
1. Failure to Define the Business Problem/s You Need to Solve
One of the largest mistakes that come with going for an analytics is implementing a solution without initially defining the goals which the company really wants to achieve thus companies will not be able to profit from this investment and generate some ROI.
2. Failure to Get Buy-In from Users
Many IT departments have the tendency to buy BI tools hurriedly and in a vacuum, without getting buy-in from end users first. Even the top ranking BI software will be rendered useless if they are not properly utilized, and no process of standardizing or training will persuade people to make use of technology that they do not feel like they can benefit from personally.
3. Failing to Factor In Legal and Security Requirements
Companies should keep in mind that data governance is important when it comes to selecting business intelligence software. If managers give out all the data to the employees so that they could explore everything by themselves, this can prove to be detrimental.
4. Becoming Overwhelmed by the Features
Many companies evaluate and rate business intelligence tools in terms on features which are being offered by the tool, like explorations and discovery, querying and reporting, data visualization, OLAP dashboards and analysis, predictive analytics and performance management. Out of all these, one key feature seems to be missing – integration, which is a very crucial one.
5. Not Choosing an Adaptable and Measurable Solution
Many organizations are guilty of selecting a BI solution that is not agile. At fast-moving and cutting-edge companies, self-service BI analytics are now the rule. The traditional monolithic infrastructure is presently collapsing to give way for tools which can effectively work with newer sources of data.
6. Not Considering the Mobile Workforce
Several organizations fail to take mobility into consideration when they are in the process of selecting business intelligence software.
7. Rushing with Implementation
Implementation should not be excessively rushed as sufficient time must be set aside for training, in order to make sure that users are provided with the opportunity to develop or acquire ample skill sets which are needed to effectively use the BI tools.
8. Not Enough Training
A lot of companies exhaust their budget on licenses and short training courses for users. They fail to recognize, however, that the BI systems being used today are complex structures which need extensive training for users to genuinely acquire value.
9.Not Leveraging on Intelligence
A few companies collect relevant information from business intelligence tools but they fail to share, analyze, or act on these data – and this has proven to be a huge mistake.
Business intelligence solutions may be used to analyze and report various forecast trends, data points and identify opportunities and risks. The most common mistake that several organizations make is becoming complacent with a defined set of reports. This often leads to failure to consider the whole business environment. Business intelligence services provided by Bilytica can help resolve these issues.