As a Business Intelligence (BI) provider we believe that data can be turned into BI solutions, that promote growth. Gartner predicts that by 2026, over 25% of Fortune 500 Chief Data and Analytics Officers (CDAOs) will be in charge of at least one high-revenue-generating product driven by data and analytics.
Data is a core part of business strategy and so is using Business Intelligence software. With CDAOs taking the lead, organizations recognized data as an essential asset for developing market-leading products and services, not just for internal insights.
In this blog, we will look at the top 5 reasons why Business Intelligence projects or data-driven decisions fail, and how you can avoid these pitfalls by implementing a Business Intelligence platform that caters to your team’s needs.
Mistake #1: Expecting users to abandon spreadsheets or current reporting tool
More likely than not, every computer in your organization has either Microsoft Excel or another spreadsheet application installed. Businesses that implement Business Intelligence software solutions that replace Excel run the risk of having users who do not want change.
While the fancy reporting tools and beautiful dashboards promise to replace the need to use Excel, when all fails: users run back to their ‘old companion’ aka spreadsheets. Whether it is how long it takes to run an ad-hoc report, or how unnecessarily complicated it is to enter and manipulate data, users stick to what they know in times of difficulties.
Solution:
Just give up trying to force users to stop using spreadsheets. Find a Business Intelligence tool that offers flexibility and easy spreadsheet integration so that users can get the best of both worlds. A good example of this software solution is PowerExcel dynamic integration with Excel and other reporting tools.
Mistake #2: Long BI Migrations
Business Intelligence projects are supposed to offer a quick solution that helps organizations to make better-informed decisions, attain data security, and discover ways to increase profitability. However, when BI implementations become never-ending, near-completion projects, they give employees more work than usual. This can mean frustration coupled with high expenses.
Solution:
To avoid some of the challenges that lead to long BI migrations, get your data cleaned up and ready to go with the use of a Business Intelligence software. This can save you some of the headaches of frustrated users and high expenses. Also prepare employees for the change by providing information on each stage of the process.
Mistake #3: Reports that Take Hours to Run
Business Intelligence platforms provide better reporting system for organizations. If users find themselves in a position where they have to wait for hours, sometimes days, before they can generate a single report or ad-hoc query, they will likely move back to using spreadsheets or other reporting solutions that work better for them. Time is money after all!
Solution:
Find out HOW LONG it takes to run reports when implementing a Business Intelligence software solution. Modern BI solutions deliver ad-hoc queries within seconds while ensuring updated information as waiting for hours can mean outdated reports. PowerExcel is one such tool that updates information in seconds. Watch our FREE DEMO to get an idea of how it works.
Mistake #4: Insufficient Training
For Business Intelligence projects or data-driven decisions to be successful, is important that users: both IT and end users feel comfortable with using the implemented solution. When users are inadequately trained, using the implemented BI solution could be quite daunting.
Solution:
All users who will be directly using the BI software solution need to be trained and have access to up-to-date manuals to help them get acquainted with the product. Have on-staff personnel(s) who are well versed in using the BI solution and can troubleshoot issues.
Mistake #5: Lack of Communication between IT and End Users
Business Intelligence solutions should appeal to the Chief Data and Analytics Officers (CDAOs), the IT department and end users. IT usually has requirements and features that they look out for when choosing a BI solution, which may be different than those of end users and the CDAO. This is basically because IT has the responsibility of ensuring a smooth information management system, while end users are concerned with the ability to analyze data for the CDAO to make an informed decision.
Solution:
Chief Data and Analytics Officers (CDAOs), End users and IT should come together and collectively make a decision when choosing a Business Intelligence solution so that all the requirements can be met. This can prevent the—“IT brought this solution in”— or vice versa blaming game.
(This post has been updated for your reading pleasure and was originally published on May 21, 2013)
