Enterprise
business intelligence is an important concept for modern businesses,
encompassing the most effective strategies, tools, technologies, theories and
practices for managing data. In most cases, business intelligence refers to
digital data, as most information is stored electronically in this day and age.
An effective business intelligence solution can help a company manage its
supply chain and meet its own goals, such as customer satisfaction,
productivity, cost efficiency and more, with a range of innovative technologies
and tools. Effective technology solutions are especially important for global
business intelligence, where the supply chain may span countries and
continents, making it particularly difficult to handle all the data. That being
said, not all business intelligence solutions are effective. In order to make
the most of a company’s big data, there are certain best practices that must be
followed.
Rely
on Business Intelligence Experts
Some businesses make the
mistake of relying on IT professionals to develop their business intelligence
plan because they assume the technology experts will be best equipped to manage
the digital data they have at their fingertips. The problem is that effectively
managing and analyzing data requires business tools, not just technology tools,
and the solutions should be developed by professionals who understand the most
efficient and effective enterprise solutions. The best bet is to work with
qualified business intelligence consultants who also have programming
capabilities in order to achieve a strategic solution that addresses both
technological and business-oriented needs.
Make
Sure Your Solutions Are Easy to Use
An effective business
intelligence solution is one that is easy to use, plain and simple. If it isn’t
easy to use, there is a high likelihood of frequent human error that will
prevent your organization from making the most of your data. The tools and
technologies you develop to manage your digital information should be automated
as much as possible, and require a minimal number of mouse clicks otherwise.
All tools should be developed with cost/benefit analysis in mind and tested to
ensure ease of use with end users.
Build
a Central Database and Keep it Clean
In order to manage your
data effectively, you must also build a centralized database where it is all
contained, but only after being screened for errors and low-quality data that
should be eliminated. This may include all data from in-house sources as well as
business partners and other outside sources. The architecture of this database
should be carefully structured to support the needs of the organization as it
continues to grow and evolve, and to accommodate for new technology tools in
the future.
There are many advantages
to enjoy once you have a successful enterprise business intelligence system in
place. With the right tools, technologies, methods and processes, your
organization can manage all levels of your supply chain more effectively and
efficiently, even in a global business environment. This will reduce the amount
of work it takes to analyze your data and increase the level of accurate,
useful, strategic information you have available. With fewer resources devoted
to business intelligence, you can focus more on improving your products and
services, driving productivity, keeping clients happy and attracting new
generations of clients in the future. If you have effective technology tools
that are properly implemented, your organization will also have a fuller
picture of the data, and not just a micro view of data subsets separate from
one another. In the end, this saves time, money and resources while adding
substantial value to your business plan. It’s worth the effort and investment
to contact the most qualified business intelligence consultants to help put
these best practices to use today.
Erik Johnson is the
Digital Marketing Analyst for Paragon Solutions, an advisory consulting and
systems integration firm that specializes in delivering enterprise business intelligence services for
organizations in various industries.
