One of the most common trends observed for enterprises that have existed for decades, and are of a certain scale, is the overwhelming data. In most cases, this data is either never looked at, or is not looked at in real-time and optimally. Add to this the complexities Mergers & Aquisitions can add, if the enterprise has gone through any. Chances are, there are multiple ERP / CRM systems where powerful data is lying but no one knows how to consolidate all of it to make business sense.
If you are currently looking for a BI solution, you already understand the power of analysing real-time data and executive reports that can instantly show the leaders, the overall health of the business. However, according to Gartner, 70% – 80% BI projects fail. This is because organizations look at current requirements and don’t consider the dynamic business environments to find a solution that is futuristic and scalable.
Given below is a powerful list of eight critical factors you should consider while selecting a BI tool, which if followed through, can ensure you don’t regret your decision ever.
There are many data analysis tools today in the market, so the decision process of selecting one is long and arduous. BI is the brain of the company that would enable better and faster decision making and action. You must get it absolutely right the first time as the rework and course correction in future is very expensive. While the tool is extremely important, the people who manage it are equally critical. If you don’t have the right team with business perspective, knowledge & experience, then you can easily get into issues early on. We offer free one-hour consultancy capsules that can help you make the right decision of selecting a BI tool for your company. To book an appointment, fill in the Contact Us form or reach out to us at firstname.lastname@example.org.
– Om Maurya