How to Optimize Business Intelligence

 
 
By Karen A. Frenkel  |  Posted 01-13-2017 Email
 
 
 
 
 
 
 
 
 
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    How to Optimize Business Intelligence
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    How to Optimize Business Intelligence

    Companies must pay closer attention to data governance to ensure consistent, reliable, optimized results from their business intelligence systems.
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    Business Advantage
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    Business Advantage

    81% of the senior executives surveyed said they experience very significant (45%) or significant (36%) business benefits from their business intelligence (BI) programs.
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    BI Challenges
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    BI Challenges

    Inconsistent data, Multiple versions of the truth, Inconsistent formulas and definitions, Limited adoption across the company
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    Half Empty
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    Half Empty

    Only 48% of the respondents feel that their current approach yields the full business improvement opportunities afforded by BI.
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    Mix of Benefits
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    Mix of Benefits

    Improved customer metrics, Accelerated time to market, Stronger product and service mixes, Enhanced brand valuation and recognition
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    Role of Governance
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    Role of Governance

    78% of the executives surveyed said data governance is vital or important to their BI operations, and 65% said governance is a useful way to empower users and uncover new insights.
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    Managing Data Access
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    Managing Data Access

    83% of respondents manage data access at the departmental level, 81% assign data access by role, and 76 mandate the use of specific BI solutions and dashboards.
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    Enhanced Governance
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    Enhanced Governance

    57% agree or strongly agree that users who acquired or developed their own BI systems are turning to centralized IT or BI departments for enhanced governance.
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    BI's Future
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    BI's Future

    Less IT control, Increase in standalone, independent BI functions, Greater mix of centralized/decentralized approaches
 

Some organizations are reaping returns from their investments in business intelligence (BI), but less than half of them feel they are getting the full benefit of such programs, according to a recent report from Forbes Insights. These executives report the following issues of concern about BI: less than optimal adoption rates, lingering silos, multiple versions of the truth and security issues. BI encompasses several related activities, including data mining, online analytical processing, querying and reporting. Because these executives have data and self-service analysis solutions at their fingertips, they and their staffs are transforming from "mere managers to true information workers," the report said. The report suggests that companies pay closer attention to data governance to ensure consistent, reliable, optimized results. This, in turn, would deliver stronger data-driven performance, the report said, leading to even greater awareness, momentum and adoption. The challenge is to develop governance processes that can coexist with the need for greater data access and flexibility among distributed knowledge workers. Forbes Insights, in collaboration with Qlik, conducted this global survey of 437 senior executives.

 
 
 
 
 
Karen A. Frenkel writes about technology and innovation and lives in New York City.

 
 
 
 
 
 

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