By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData Collective
  • Analytics
    AnalyticsShow More
    predictive analytics in dropshipping
    Predictive Analytics Helps New Dropshipping Businesses Thrive
    12 Min Read
    data-driven approach in healthcare
    The Importance of Data-Driven Approaches to Improving Healthcare in Rural Areas
    6 Min Read
    analytics for tax compliance
    Analytics Changes the Calculus of Business Tax Compliance
    8 Min Read
    big data analytics in gaming
    The Role of Big Data Analytics in Gaming
    10 Min Read
    analyst,women,looking,at,kpi,data,on,computer,screen
    Promising Benefits of Predictive Analytics in Asset Management
    11 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: Getting Real Value from BI Investments
Share
Notification Show More
Latest News
ai digital marketing tools
Top Five AI-Driven Digital Marketing Tools in 2023
Artificial Intelligence
ai-generated content
Is AI-Generated Content a Net Positive for Businesses?
Artificial Intelligence
predictive analytics in dropshipping
Predictive Analytics Helps New Dropshipping Businesses Thrive
Predictive Analytics
cloud data security in 2023
Top Tools for Your Cloud Data Security Stack in 2023
Cloud Computing
become a data scientist
Boosting Your Chances for Landing a Job as a Data Scientist
Jobs
Aa
SmartData Collective
Aa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Business Intelligence > Getting Real Value from BI Investments
Business Intelligence

Getting Real Value from BI Investments

LyndsayWise
Last updated: 2014/01/31 at 9:00 AM
LyndsayWise
4 Min Read
Image
SHARE

ImageMany organizations struggle with their data. Whether those without any structured analytics or data management practices, as well as businesses with mature BI infrastructures, there are always gaps to visibility. Data volumes are on the rise, companies expand their business models or provide new services, and the way in which data can be managed and processed is constantly evolving.

ImageMany organizations struggle with their data. Whether those without any structured analytics or data management practices, as well as businesses with mature BI infrastructures, there are always gaps to visibility. Data volumes are on the rise, companies expand their business models or provide new services, and the way in which data can be managed and processed is constantly evolving. Consequently, the roles of business intelligence and information management also need to reflect these changes. Organizations need agile practices to ensure that they are collecting, managing, and analyzing data that can be acted upon. In the past, technology could not keep up and the promise of BI was not all it was cracked up to be. 

Now things are different. Database technologies, “big data” storage, in-memory analytics, and the ability to leverage multiple types of data expand the value proposition of what business intelligence has to offer. The challenge becomes understanding the options that are available and making sure that the right choices are made within organizations that not only reflect current needs, but that can also support future needs. Looking at scalability, user licensing, business pains, levels of use and interactivity, and information architecture are some of the starting points when making sure that solutions support broader organizational needs.

The reality for most organization is that there will be the realization that BI needs to be an ever changing, constantly evolving process. Additionally, until organizations start to look at BI as an essential part of daily business processes and as an extension of daily operations, its use internally will be limited. Business intelligence and analytics can no longer be developed to monitor specific metrics without being able to provide action items. Identifying performance gaps, or issues with the supply chain, or lack of sales is a great start. But unless there is also the ability to look at cause and effect, and identify what needs to be done and the tools required to get there, then full BI value can’t be realized.

More Read

ai digital marketing tools

Top Five AI-Driven Digital Marketing Tools in 2023

Is AI-Generated Content a Net Positive for Businesses?
Combat AI-Powered Threats with Cybersecurity Simulations & Other Practices
Utilizing Data to Discover Shortcomings Within Your Business Model
Embedded BI Tools Bring Huge Benefits to Business Applications

Although still a pipe dream to many, as technology continues to catch up and applications can be developed to support the convergence between operations, business process, and analytics organizations will continue to get closer to the realization that technology can be used to drive information value. 

This post was written as part of the IBM for Midsize Businessprogram, which provides midsize businesses with the tools, expertise and solutions they need to become engines of a smarter planet. I’ve been compensated to contribute to this program, but the opinions expressed in this post are my own and don’t necessarily represent IBM’s positions, strategies or opinions.

website statistics

LyndsayWise January 31, 2014
Share this Article
Facebook Twitter Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

ai digital marketing tools
Top Five AI-Driven Digital Marketing Tools in 2023
Artificial Intelligence
ai-generated content
Is AI-Generated Content a Net Positive for Businesses?
Artificial Intelligence
predictive analytics in dropshipping
Predictive Analytics Helps New Dropshipping Businesses Thrive
Predictive Analytics
cloud data security in 2023
Top Tools for Your Cloud Data Security Stack in 2023
Cloud Computing

Stay Connected

1.2k Followers Like
33.7k Followers Follow
222 Followers Pin

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form id=”1616″]

You Might also Like

ai digital marketing tools
Artificial Intelligence

Top Five AI-Driven Digital Marketing Tools in 2023

6 Min Read
ai-generated content
Artificial Intelligence

Is AI-Generated Content a Net Positive for Businesses?

5 Min Read
cybersecurity simulations
Artificial IntelligenceExclusiveITSecurity

Combat AI-Powered Threats with Cybersecurity Simulations & Other Practices

7 Min Read
utlizing big data for business model
Big Data

Utilizing Data to Discover Shortcomings Within Your Business Model

6 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

ai is improving the safety of cars
From Bolts to Bots: How AI Is Fortifying the Automotive Industry
Artificial Intelligence
data-driven web design
5 Great Tips for Using Data Analytics for Website UX
Big Data

Quick Link

  • About
  • Contact
  • Privacy
Follow US

© 2008-23 SmartData Collective. All Rights Reserved.

Removed from reading list

Undo
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?