User Resistance - Implementation can be hampered by cultural challenges.
Irrelevant, Poor Quality Data – You need standard data to get accurate insights. Get your data up and running before extracting and acting on insights.
BI Tools - The heart of BI is reporting, not process management. Be careful not to confuse business intelligence (BI) with business analytics.
How to Choose the Best Business Intelligence Software?
- Analyze how leaders make decisions.
- Think about the information executives need to make fast and accurate decisions.
- Pay attention to data quality.
- Develop performance metrics that are most relevant to your business.
- Provides context for impacting performance metrics. Remember, BI is more than decision support. With improvements in technology and how his CIO implements it, BI now has the potential to transform organizations. CIOs who successfully use BI to improve business processes are doing more to their organizations than implementing basic reporting tools.
What Are the Latest Trends in Business Intelligence?
Here are three of the latest trends in business intelligence.
Data Governance – With the General Data Protection Regulation (GDPR) coming into force in many regions in 2020, proper data governance has become an increasingly urgent issue for many organizations. A data governance program is becoming a prerequisite for organizations trying to stay compliant.
Explainable AI – This trend stems from the need for greater transparency in AI-powered business intelligence platforms. We hope that AI will soon be able to justify its conclusions in a more understandable way. This helps users understand the data better.
Data Quality Management (DQM) – With organizations losing $3.1 trillion each year to poor data quality, DQM becomes a critical process to ensure data accuracy and usefulness. DQM is not a new trend, but it is expected to continue transforming the business intelligence industry in 2020 and beyond.
