Practical Business Intelligence Strategies: Getting the Best ROI

Practical Business Intelligence Strategies: Getting the Best ROI This infographic reflects the views of 201 IT decision makers polled in the CIO Market Pulse Study conducted for TEKsystems What Is Business Intelligence? 53% HAVE AN "ENTERPRISE- Bl refers to techniques used to identify, extract, and analyze business data to give organizations an in-depth view of their business operations. WIDE STRATEGY WITH DEDICATED RESOURCES AND COORDINATED ARCHITECTURE" Techniques include: online analytical processing, statistical analytics, data On The Rise Among 201 IT Decision-makers Polled HAVE "NO ENTERPRISE- 35% WIDE STRATEGY, BUT HAVE IMPLEMENTED TACTICAL CURRENTLY, THE NORTH AMERICAN mining, process mining, complex event business performance management, benchmarking, textual data mining, predictive analytics SOLUTIONS AT THE BI SERVICES MARKET IS WORTH BUSINESS UNIT LEVEL processing, $15.5B ON AN AD HOC BASIS" AND IS EXPECTED TO GROW BY 12% HAVE "NO COHESIVE STRATEGY ABOUT 8% THROUGH 2013. AT BUSINESS UNIT LEVEL OR ENTERPRISE WIDE LEVEL" Ways Companies Leverage BI to Make the Right Decisions Gain a consistent view of the organization Discover potential Determine where to Contain cost Predict the future business risks make investments Key Challenges Data Governance SAY THEIR BUSINESS COUNTERPARTS ARE 70% SOMEWHAT, NOT VERY, OR NOT AT ALL A SET OF PROCESSES THAT ENSURE BI programs require tight alignment between IT and business units to be truly ENGAGED IN DATA GOVERNANCE PROCESSES. DATA ASSETS ARE PROPERLY MANAGED Data Quality REPORT THEIR BI STRUCTURES RARELY OR NEVER successful. When IT does Successi not have buy-in or the hot have necessary collaboration 46% *- INCORPORATE A FORMAL DATA QUALITY PROGRAM THE ABILITY TO MEASURE AND THAT INCLUDES DATA QUALITY SCORECARDS, ANALYZE DATA FOR QUALITY from business units at the onset of BI projects, developing a BI strategy can be challenging. Delivering Timely Responses ARE NEUTRAL OR DISAGREE THAT THEIR 53% COMPANY'S BI INITIATIVES HELP THEM OFTEN AS A RESULT OF THE TWO COMPARE RESULTS IN REAL TIME, CHALLENGES ABOVE Optimizing BI strategies can result in significant improvements realized across the business. Achieving Optimızed BI cCompanies can create successful Bl programs by making sure these factors are in place: Count the cost of Build prototypes that answer Evaluate the DW and data quality separately from an ROl assessment for Bl analytics and reporting Track prove Align teams with cost/benefit of data quality over business questions and help IT and business align BI projects by answering specific business questions defined roles and time with scorecards responsibilities and dashboards When these key attributes are embedded within a BI program, organizations are more likely to be satisfied: BUSINESS PROCESS DATA WAREHOUSINO FORMAL DATA BUSINESS-DRIVEN IT ORGANIZATION HAS MODELING RESOURCES ORGANIZATION HAS STEWARDSHIP PROGRAM ANALYTICS VIA TOP DEDICATED ENTERPRISE WITH AN AUTOMATED DOWN METHODOLOGIES ARE ENGAGED WITH BASELINE BUDGETS FOR DATA ARCHITECTURE GROUP THE BUSINESS DATA QUALITY OR MASTER TOOLSET OR PORTAL FOR DATA MANAGEMENT DATA QUALITY MANAGEMENT 50% 48% 60% 57% T 50% % Increase in satisfaction with BI program SOURCE: IDO RESEARCH, JUNE 2011 Infographic created by: TEKsystems, Inc. is an Allegis Group, Inc. company. Certain names, products and services listed in the document are trademarks, register trademarks, or service marks of their respective companies. Copyright © 2012 TEKsystems, Inc. All Rights Reserved. TEKsystems