Business Intelligence

Five steps to building a successful BI strategy. Part 2

Pinterest LinkedIn Tumblr

The third step for a successful BI: determining how the data exchange will take place and how the information will be distributed

So, we have decided on the goals and developed a plan to achieve them. But before you start implementing it, you need to decide how users will use the BI solution that you launch.

Successful BI strategy

This may seem obvious to you. However, this very moment will be one of the key ones for your strategy. There are two approaches here.

Decentralized approach to using a BI solution

Some organizations provide a wide range of end users with the ability to use interactive dashboards to analyze data. These end users can be business representatives – the so-called citizen data scientists. In fact, such a civilian data scientist does not need any additional knowledge other than understanding how to get the data they need to solve problems. If necessary, these employees are given access to a wider list of systems, and not just to dashboards.

When drafting a BI strategy for a decentralized company, you need to focus on citizen data scientists first. They are the ones who need data for high-quality insights, on the basis of which they will make decisions. It is they who determine what needs in the field of working with data are in a particular department of the company. In large companies, a decentralized approach avoids bottlenecks that arise when the IT department or CDO has complete control over data and analytics.

A centralized approach to using a BI solution

With a centralized approach, the dissemination of data is strictly controlled, including control over who sees the information and who can use or change it. Consider the example of the American Nasdaq exchange. The company’s strategy for BI recognizes that the company has a lot of sensitive information and many distribution channels. In addition, it is taken into account that for better data management it is important to achieve a single version of the truth for many records. Based on this strategy, Nasdaq allows its clients to work with dashboards, but does not allow them to work directly on data models. Customers can dig a little deeper to get more details. But in general, Nasdaq data is tightly controlled at the system level, object level, data level and low-level security.

Business intelligence

The choice between a centralized and a decentralized approach is yours. In addition, at this stage, it is important to think about how the implementation of the BI tool will take place, how you will embed it into a site or application, how you will scale it in the future, how you will move from the test environment to a productive environment, how you will freeze at this time. the code. It is also important to think about how you will communicate about the implementation of BI within the company and clients. Here you can make e-mail newsletters, organize events, trainings, PR activities, and more. Discuss all these points with your team members, management and everyone who will be involved in the BI implementation process. Later, you will be grateful to yourself for this.

The fourth step to successful BI: think through the implementation details and the key points you will focus on

Something will be determined by itself when you decide how the data will be distributed and exchanged in the company. For example, if you choose a centralized approach for yourself (where the end user cannot choose which data sources to work with), you will need to focus on preparing quality technical documentation and training employees. If you choose a decentralized approach, you should run short release cycles of the BI tool, collect feedback on each and take it into account in the final release.

At this stage, you need to decide on all the key points on which you need to focus.

Step Five to Successful BI: Identify and Remediate What Is Stopping Data Usage

By this stage, you have already defined your tasks and understood what data you need to complete them. Now you need to understand what or who stands between you and this data. Data can be stored in databases, can be placed somewhere with partner companies, contractors or suppliers. For example, your company may outsource some HR tasks (for example, hiring employees). A company may use contractors to manage marketing companies (such as Marketo) or finance services (Quickbooks). All this will lead to the fact that the data