7 keys to a successful business intelligence strategy

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a business intelligence strategy is key to staying competitive but there's more

to it than just implementing technology that's the easy part says Forrester

Research's Borisov Olson it will require a firm strategy regular maintenance and

constant improvement here are seven essential steps for creating a

successful bi strategy according to experts

while bi technology typically falls under eyeties domain most tools are

intuitive enough for non IT business users to navigate when departments need

data in real time it makes sense to give them direct access to BI tools instead

of leaving them slowly under eyeties control

Evanson suggests monitoring bi usage to find patterns and to see which tools are

being utilized and how they can be improved these insights allow IC to

adjust priorities to make sure the most used tools get the right attention it's

tempting to deploy multiple tools at once but you want to go for quality over

quantity since wci Consulting's chris Hagen's it's important to trust the

tools accessing company data and you also want to be able to trust the data

those tools produce to avoid getting trapped under too much data

Evanson suggests starting with a top-down approach identify a business

problem first and then determine which metrics you'll use to measure and pull

the data to address the issue a good bi strategy evolves and grows over time

it's not something you can implement and ignore you want to go into it with firm

priorities but expect those priorities to shift and change the strategy should

evolve with the needs of the users and the growth of the business as Hagen's

there aren't enough data scientists to go around but there's a good chance you

have a citizen data scientist somewhere in your ranks

Cindy house in a research vice-president at Gartner says to look for inquisitive

workers with analytical skills who like to ask questions data is only useful if

it's being analyzed says CVG I Consulting's Todd Nash he's a just

encouraging employees to think creatively and develop narratives around

data it can help make connections between data and business priorities so

everyone can see and understand the value of data these 7 tips should help

you develop successful business intelligence strategy for your business