Things to Consider When Evaluating Business Intelligence Solutions

Data seems to be everywhere these days. Our past activities and actions seem to allow us to make decisions in future situations and predict outcomes based on what has happened in the past. This concept is no different in the business world. Past employee production, customer transaction and supply chain performance have all been compiling into a heap of data that can be used to make better decisions and predict outcomes that can help optimize business processes and outcomes.

This concept has been dubbed Business Intelligence (BI) and can be defined as a set of theories, methodologies, processes, architectures, and technologies that transform raw data into meaningful and useful information for business purposes. As with any other technology solution in order for it to truly work and transform business processes the right evaluations need to be made. This is especially the case in order for businesses to unlock the potential of BI. The following are a few suggestions from SmartData Collective of the type of things one should be looking for when evaluating potential BI solutions.

“Flexible Change

Business intelligence is no longer just an answer for large corporations.  Customized applications are now available that collaborate with the existing infrastructure.  The solution is intended to save time and money, thus a mass overhaul of systems is counterproductive to the cause….”

“The Option to Grow

The top applications are scalable and designed to grow with the organization.  This organic development not only increases productivity but improves efficiency as well.  A good business intelligence solution will assist a company in developing resilience against surmounting issues like data deduplication, security, loss of data and redundancy….”

“Engage Business Units

Accessibility must be taken into consideration when choosing a suitable B.I. solution.  It should be easily managed with a single point of maintenance.  Key factors like usability and functionality for the end user are important as well….”

“Reporting and Analysis

Consolidation of data is the main drive in the development of business intelligence.  Data deduplication is a growing necessity due to the increase in mobility.  Organizations must now deal with increasing demands, higher degrees of accuracy, firmer controls and tighter timelines….”

“Cost Effective

Affordability is always the driving factor.  Streamlining a process becomes futile if the cost of doing so is astronomical.  A business should first determine their exact needs and set the course accordingly….”

Click here to read much more on these suggested features and capabilities to look for when evaluating BI solutions from SmartData Collective.

Check out these additional resources:

2016 Business Intelligence and Data Analytics Buyer’s Guide

BI and Data Analytics Buyer’s Matrix: Comparing 28 Vendors Features

Gartner Magic Quadrant for Enterprise BI and Data Analytics