All businesses know that they must pay attention to business intelligence (BI) and analysis. Without it, they don’t know how they fare in comparison to the competition or where they need to improve their services. However, there are some significant challenges involved with proper gathering and interpretation of BI data, and those challenges can be so big that they cause many businesses to simply ignore BI as a whole. Experts like Abhishek Gattani warn against the dangers of this, however, since it can lead to a business no longer being relevant in the modern world. Hence, he has revealed what the key challenges in BI are, and provided some tips on how those could be overcome.
1. Critical to BI is Executive Sponsorship, but Only if Employees Buy in as Well
No matter how good the plans are that leadership comes up with, they will only have a positive outcome if everybody agrees to participate. The old adage of top down approaches not working is absolutely true. But, as much as leaders must embrace a bottom up approach, they must also emulate behaviors and role model them, returning it to top down.
Tip: Leadership must engage everybody across the board, be excellent communicators, and role model any behaviors they want to see.
2. A Vertical Drive Is First Needed, then a Horizontal One
It is very difficult to implement lofty enterprise goals. Everybody has to work together to come up with how things can be measured, how things are implemented, and how data is extracted from complex systems. This is costly as well. Hence, companies should have a single process first and implement it, then move on to the next one, rather than doing everything at the same time.
Tip: Regular education and BI governance meetings should be set up and should be inclusive, to discuss progress.
3. The Focus Shouldn’t Be on Hurdles, it Should Be on Drivers
It is all too easy to get bogged down by all the negatives. Businesses worry about everything that could go wrong and then start to forget about all the things that could go right. However, simply focusing on the positive isn’t enough, you also need proof that the positives have happened. Hence, an integral element of BI is to have measurable and actionable results.
Tip: Make sure that the BI architect is fully involved in communicating the results.
4. Change Is Scary
Making data visible and changing an organization is frightening. Humans are resistant to change and will subconsciously do things to sabotage it. Again, this is why it is so important that leadership is on board and role models acceptable behaviors, and that there is proper communication across the board.
Tip: Regularly report on ROI that has been made as a result of better BI, showcasing the benefits of change to the rest of the team.
Those are the four key challenges and there are many more. They showcase the importance of having strategic BI processes in place that everybody has to sign up to.