Your end users have all the shiny tools available in the market. However, your business isn’t satisfied with the information provided; and you still get requests for data and reports every day, every minute, every second. How can you manage expectations and make your business intelligence (BI) program successful?
Research shows that high-performing companies are 50 percent more likely to use analytic information strategically. Information is a critical business asset, yet only 27 percent of firms do better job of using it than most of their competitors.
Does a BI Strategy Help?
A BI and analytics strategy empowers your employees, giving them the right information at the right time. Easy-to-use analytics and metrics helps employees understand the business and achieve success. A good analytics strategy not only addresses the information needs of your entire organization, it aligns IT and business users.
Having said that, what challenges do organizations face in building a successful analytics program? The biggest one, according to 74 percent of companies, is defining business requirements.
How would a BI strategy that defines business requirements benefit your organization? Studies say companies experience an average of 69 percent higher revenue per employee when they have a thorough understanding of BI business and technical requirements.
If you’re looking to take your analytics program to the next level and deliver insights to your workforce, take this BI strategy self-assessment questionnaire and see how a BI strategy can benefit your lines of business.
Check out this infographic and learn how a business intelligence strategy can help you maximize your BI investments.