Business intelligence and analytics are expected to be the primary focus of C-level executives. There has been significant growth in the number of BI solutions; however, the number of failed implementations has risen as well due to some common BI software mistakes. The reasons are many, from choosing the wrong BI solution to wrongly implementing the solution.
1. Unidentified Business Problem
One of the most common mistakes is jumping in suddenly without clearly defined business problems. Without identifying problems, you cannot identify if you’ve achieved anything. The biggest mistake most companies make is investing in business intelligence without predefined problems.
Instead, it may help to start with clearly defined problems and then identify the solution for that functionality in BI.
2. Being dazzled by Features
When it comes to choosing a BI solution, most enterprises are impressed with the flash features of the software, without paying attention to functionality. They begin the evaluation of vendors on an array of features, including dashboards, scorecards, KPIs, visualization, and chart types, among others, while ignoring specific business problems, such as integration with other business apps.
No doubt, features are important, but it is equally critical to ensure that you choose the right BI solution that is feature rich and functional and integrates with other office applications.
3. Not choosing a BI solution that can scale
Often, companies end up choosing a solution that solves current problems, forgetting about future problems that may arise as the business expands. As the business industry expands, you need a scalable, flexible, and adaptable BI solution that grows with your processes.
It is critically important to choose a BI solution that is efficient enough to work with new data sources with its scalable architecture. Ask vendors if their architectural solution is scalable. You do not need a temporary fix for your problems, but rather a permanent solution.
4. Unrealistic budget
One of the most common BI software mistakes made by some organizations is that they often exhaust their business intelligence budgets on software licenses, training, and implementation. This often results in the exhaustion of the budget, leaving them with insufficient user skills and training. They are not able to understand what went wrong.
It may help to negotiate with the vendor for a reduction in the software license cost and an increase in services. Thoroughly examine the service fee and make sure that most of the budget is spent on user training, and not on implementation and installation. The more time invested in training, the more benefit from installation and implementation.
5. Quick Implementation
Most businesses are quick to implement a BI solution, without having adequate training. This is a common BI software mistake not providing sufficient training for end users. Usually, companies make a list of problems and expect quick resolution of all issues with implementation.
This is frustrating for end users and management alike. Even the best BI solutions are ineffective if not used properly.
The best way out is to take an incremental approach to BI implementation and prioritize specific outcomes rather than hoping to solve all problems in one go.
This should be a step-by-step process- upon resolution of the first critical issue, move on to the next one and keep moving in the right direction.
6. No Action With Information
Most companies collect information from their BI solution, but do not take any action, neither sharing nor analyzing or acting upon it. This is a critical BI software mistake.
The sudden implementation of a BI solution leaves C-level executives exposed to too much of invaluable information that they are not aware of.
It is critically important to document the “solution” to the earlier identified problems. This would help you understand what to do with the information collected from business intelligence software.
7. Not considering security/ legal requirements
When selecting a BI solution, most businesses forget about data governance. In order to protect customers and business interests, it is important to ensure that your BI system is compliant with legal obligations and your data security policies.
8. Not considering the mobile workforce
Some businesses do not consider mobility when it comes to selecting a BI solution. This is one of the biggest BI software mistakes committed by enterprises. Remember, how you consume a business intelligence solution is as important as what you use.
9. Failure to involve business
Some enterprises choose and implement business intelligence without involving users in the process. This often results in giving them a solution that does not fit their needs. These BI solutions should enable end users to feel self-sufficient. It should help them create the reports they need. Too complex BI solutions are of no use to end users.
10. Choosing a stagnant solution
Most businesses end up choosing a stagnant solution, without focusing on its usability after a period of time. It is important to choose an evolving solution, which is constantly updated to meet the changing industry needs. A good BI solution is always up to date with the industry trend.
ITQlick boasts a team of IT experts who can help you avoid common BI software mistakes and maximize your investment.