Business Intelligence: How not to fail in the attempt.

Feb 13, 2023


Introduction

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It is estimated that 9 out of 10 Business Intelligence (BI) solution implementations fail. Therefore, an All-In-One solutionwhich automatically solves all BI processes, from the reception of data to its visualization in a suite of dashboards included out-of-the-box with KPIs about your business, greatly increases the chances of success.

 

A myriad of complex steps.

The steps required to implement a BI solution are multiple, complex, and require the coordination of an experienced team. These may vary depending on the specific solution and business requirements, but generally include:

  • Needs analysis and objectives definition: Determine BI requirements and objectives to define the appropriate solution.
  • Technology selection: Evaluate and select the tools and technologies that best suit your requirements and objectives.
  • Identification of business requirements: before starting the implementation, identify the business requirements that the solution must meet, including data integration, the type of dashboards and reports needed, and the key KPIs that must be monitored.
  • Data integration: all relevant data sources that will be used to feed the BI solution must be identified and integrated. This involves defining and programming the ETL (Extraction, Transformation, Loading) processes.
  • Development of dashboards and reports: the necessary dashboards and reports must be developed to visualize the data and monitor the KPIs.
  • Testing and adjustments: The solution should be thoroughly tested to ensure that it is working properly and adjustments should be made if necessary.
  • Technical implementation: the BI solution must be configured and deployed in the company’s productive environment.
  • Training and adoption: users should be trained in the use of the BI solution and its adoption should be encouraged to ensure that it is used effectively.
  • Monitoring and maintenance: once the solution is implemented, it should be monitored and maintained regularly to ensure that it continues to function properly.
  • Continuous improvement: monitor the utilization of the BI solution and periodically make improvements and adjustments to maximize its value.

The average time to implement a data analytics solution varies depending on the complexity of the solution, the amount of data to be integrated, the number of dashboards and reports required, and the company’s ability to provide the necessary resources.

 

Technical difficulties.

Although each stage presents its own difficulties, the most complex and problematic stage in the implementation of a Business Intelligence solution is usually data integration. This stage is critical because the success of the BI solution depends largely on the integrity and quality of the data used for analysis.

Data integration can be complex due to the variety of data sources that need to be incorporated, perhaps using different operating systems, unsupported data formats and, of course, the complexity of the data itself. This can require a great deal of time and effort to normalize, cleanse and transform the data into a usable format for the BI solution.

In addition, data integration can also be difficult because of the need to ensure data security and privacy, especially when sensitive or confidential data is involved.

 

To have adequate human resources.

There are also several difficulties related to having the human resources trained for the implementation of a BI solution:

  • Shortage of domain experts: It can be difficult to find professionals with the experience and knowledge necessary to effectively implement a BI solution.
  • Training and talent acquisition costs: Acquiring and training the right professionals can be costly and require a significant investment in time and resources.
  • Keeping human resources trained: Keeping professionals trained and updated with the latest trends and technologies in the BI area is a continuous challenge.
  • Retention of skilled human resources: It can be difficult to retain skilled professionals, especially when there is high demand in the labor market, as is currently the case.
  • Difficulty in developing specific technical skills: Developing specific technical skills for working with BI technologies can be a challenge for some professionals.

Having the right team is crucial for the successful implementation of a BI solution, and high costs and high turnover are a frequent problem that inevitably ends up lengthening implementation times.

Due to the number of complex tasks, technical difficulties and the shortage of adequate human resources, On average, an implementation of a data analytics solution can take anywhere from several months to a couple of years. And this is if the project is successfully completed and is not left halfway. In fact, it is estimated that 9 out of 10 BI implementations fail and are never used.[1]

 

bintelligenz is faster and easier.

In contrast, the implementation of a customizable solution – already developed – is faster and less costly. These All-In-One solutions can be used immediately after subscription, without the need for significant investment in additional hardware, software or consulting.

bintelligenz is an all-in-one data intelligence solution that solves all BI processes, from receiving data to visualizing it in a suite of out-of-the-box dashboards with KPIs about your business.

bintelligenz automatically integrates all your data sources, validates the data and presents them in more than 150 dashboards with metrics and KPIs for your different business areas, ready to use.

In addition, bintelligenz is totally “No-Code”, and does not require you to program a single line of code; you only need to know your current transactional systems. Bintelligenz has an accompanying on-boarding process, which guarantees that you will have a complete BI solution for your organization in as little as 1 month and without the need for additional licensing or consulting.

Access in less than a month to a complete business intelligence solution that gives you a 360-degree view of your organization.

We invite you to schedule an introductory meeting with one of our consultants to learn how bintelligenz can help you transform your data into actionable insights that will help you grow and increase your profitability in just 30 days.

 

 

About bintelligenz

bintelligenz is the most complete, cost-effective and fast-to-deploy data intelligence solution on the market. bintelligenz automatically integrates all your data sources, validates the data and presents them in more than 150 dashboards with KPIs for your different business areas. Click
here
to learn more about bintelligenz.

bintelligenz, the only Business Intelligence solution on the market that is:

  • All-in-one: bintelligenz covers all processes of a comprehensive BI solution:
  • No-code: none of the processes require you to program a single line of code; you just need to know your current transactional systems.
  • Economical: the most economical BI solution on the market. Subscription scheme without the need for additional licenses, consultancies or additional technical staff.
  • Fast implementation: in only 1 month.
  • Guaranteed success: with our accompanied on-boarding process we guarantee that you will have a complete BI solution for your organization.

 

 

[1] Why do 87% of data science projects never make it into production? – Venturebeat. / Through 2022, only 20% of analytic insights will deliver business outcomes. – Gartner

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