How to Bring the Best Out of Your BI Solution

Whether you’re a small start-up or a large enterprise, creating and implementing an effective BI strategy requires a lot of careful planning, technical skills, change management, and coordinated cooperation between teams.  Access to large amounts of data is not the only requirement for business intelligence (BI), making sense of it requires using specialized BI tools and software.

Yes, business intelligence solutions offer powerful tools that can help you analyze customer data and turn data into meaningful insights that can drive business outcomes but how should you choose the best BI solution for your unique needs? 

To extract maximum value from your BI tool, you must use best practices that promote user adoption, ensure data accuracy, and optimize performance. Here, we will discuss some of the ways that will help you get the most out of BI solutions.

5 Ways to Bring the Best Results from Your BI Solutions

1. Spread it out – Spread BI Throughout Your Entire Organization.

You must have to be very particular and decide wisely where to use BI in your organization. Business intelligence software is often used in a department or company-wide manner, but this limits its value. Although BI can benefit any department, organizations that make BI accessible throughout the company get the most from their investment. 

Hence, businesses should ensure that all BI assets, such as reports, dashboards, and queries – are available to all departments within the company. This increased transparency may result in more queries, but also more opportunities to see new things. 

12 Key Features of a Good BI Solution

2. Be mindful of conflicts – Manage Conflicting Priorities with Agility

Given the dynamic nature of business needs, opportunities must be realized at the appropriate time. Yet, being flexible is not the most economical strategy for BI. It is the focus on continuous delivery. The value derived from business analytics software is affected by slow data acquisition. Effective business intelligence knowledge is needed to handle these conflicting priorities.

Value must be found and brought to your organization as soon as possible. It cannot take six months to obtain the information needed for implementation and feedback. Insight drivers may change by then as a result of changes in business requirements. You must determine the fastest way to deliver value through BI solutions to resolve conflicting priorities. 

3. Every business is unique – Tailor Your BI Tool to Your Business Needs

For any company, a generic setup is rarely beneficial. The best business intelligence software is always flexible. You can customize them to your needs. Customizable dashboards allow you to see the most important information. You can customize report templates to meet your unique needs. 

Select the BI solution that makes it feel like the tool was designed specifically for your business. If your BI tool feels like a one-size-fits-all solution, it’s likely not being used correctly.

Real-case scenario

Though most companies right now have superfluous internal data that they’ve collected on existing customers but not necessary they are putting this additional data on potential target markets to use. For example, a bank that is looking to digitize its branch can build new data models to identify which may be an ideal location for a flagship branch. The bank is doing this based on surrounding environments, such as hospitals, public transportation, businesses, residential areas, etc, or may be demographics and user behavior and patterns. This combination of internal data (customers’ spend and activities) with external data (the external and surrounding environments) can help better determine retail locations and identify ideal branches to undergo this digital enhancement. Therefore, blending different types of data can result in deriving many useful insights. The merging of real-world behavior and existing or digital records can help bridge and add more information to the context of potential and existing customers. It is especially useful for brick-and-mortar businesses to merge this type of information which may allow them to find new marketing opportunities and expand their existing customer base. All this can be easily done with a customized BI solution.

 

4. Always engage impactfully – Your BI Solution Must Communicate Better

Engaging the reporting audiences is essential if you want a successful BI strategy. Your BI implementation will never function as planned without participation. Everyone talks about adopting BI appropriately therefore, implementing it suitably should be of high importance. With the help of business analytics software and mobile business intelligence, people can communicate and access the information they need anytime, anywhere. 

Technological breakthroughs have made new opportunities possible to enhance data integration. Therefore, knowing the relative nature and value of BI solutions can boost engagement. 

5. Collaboration leads to progression – Foster Sharing to Uncover Deeper Insights

Although business intelligence technologies are great for individual analysis, their full potential can only be achieved through collaborative use. When shared workspaces are combined with features that facilitate the sharing of insights among team members, collaboration becomes seamless. 

To ensure a never-ending cycle of improvement, top business intelligence reporting solutions come with feedback systems that allow stakeholders to annotate and provide real-time input. 

Partner with Uneecops To Harness The Potential of BI Solutions

As an end-to-end enterprise analytics software deployment partner, Uneecops embraces analytics throughout your organization’s culture with our industry expertise and cross-functional experience to identify drivers impacting business outcomes.

Explore more about our data analytics tools and partnerships that help your business grow its data analytics and BI capabilities.

Let’s talk about how our partnership can help you bring the best out of any BI tool.