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Challenges to A Successful Business Intelligence Strategy

• Posted by Grow Dashboards November 17, 2022 Filed in Aliens & UFO 10 views
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  BI solutions are becoming more and more critical. Statistics show that 26% of companies have already started using BI, and by 2023, around 33% of companies will have done so. But even though the trend is multiplying,  and Business Intelligence tools’ benefits are vast, it takes work to use them to your advantage. Many Business Intelligence problems come from the limitations of a system, the complexity of business needs, human factors, and so on. 

  We can explain Business Intelligence challenges to a successful BI strategy. Our team can offer game-changing tips on solving them because we have a lot of experience putting Business Intelligence dashboard software into place in many different industries and business levels

  Difficulties In Implementing A Business Intelligence Plan

  1. Bringing together data from different sources 

  A Business Intelligence tool makes sense when it can get data from many different places and analyze it to give insights, which increases the risk of misinformation.

  First, working with raw, unstructured data adds to the number and complexity of datasets, which makes it take longer to report. Using the same logic on another data set will be challenging if the report uses data from different sources. Second, since there are different versions of the truth in other datasets, it's likely that there will be differences in the way reports are made. Third, if you have millions of rows of data, the built-in ETL won't handle it, making reports take longer to respond to.

  2.Data quality issues 

  Data quality is one of the biggest challenges of Business Intelligence and one of the things that get in the way of BI goals, like making good decisions. Human mistakes, duplicated or wrong data, and inconsistent data formats make it impossible to learn anything useful and can even lead to bad decisions. Here the Business Intelligence tools’ benefits are overshadowed. 

  3.A lack of talent in data

  A lack of skills is a common problem with a Business Intelligence dashboard plan that slows down data analytics. In 2020, there wasn't enough data science talent in the United States. The 2022 Tech Hiring Survey also said that demand for data science skills is much higher than supply. 

  It is made worse by the looming talent crisis in the job market, changing demographics, and the possibility of another recession. Companies can't use BI analytics well, set up data warehouses for baseline information, or reach the required level of data literacy in general if they don't have the right skills. 

  4. Bad data visualisation 

  Most of the credit goes to the quality of your data and analytics processes. But the design of your BI dashboards is just as crucial if you want to explain complex data to the people who make decisions and turn important insights into actions. 

  Lack of interactivity, inability to get data in real-time, rigid templates, and even choosing the wrong color could make it hard to use the Business Intelligence dashboard. Companies should use dashboards that can be updated constantly and can be made to fit the organization's needs to highlight the correct data values.

  5. Low adoption of BI tools

  One of the main problems with a Business Intelligence tool is that organizations still don't use it enough. Even if you spend a lot of money, time, and effort on your analytics software, it might not work because users won't accept it. If you want a newly deployed BI tool to be used by more than just analysts and data scientists, make sure it is easy to use and not scary. 

  Also, employees often have good reasons to be against new software. People whose main job has been manually putting together the company's analytics are afraid that automated reporting will put them out of work. That's why they need to be persuaded otherwise.

  Closing words-

  You can't plan a good data analysis and visualization architecture on a hunch unless you want random and incomplete insights. Most BI problems can be avoided if you are aware of them, plan for them, and know what to do. 

  Balance your BI issues with Grow’s Business Intelligence tools benefits. Getting help from Grow's data and BI experts will help you solve your puzzle and deal with everyday Business Intelligence problems. 

   

  To know more, read Grow Features & Capabilities GetApp.