The most widespread questions of a business intelligence: answers of experts

• How to give the exact and memorable definition of a business intelligence? What does the business intelligence differ from ERP, CRM and other program systems in?

О: The business intelligence is defined as a set of technologies and processes for collecting and data analysis and decision making. The main difference of a business intelligence from ERP, CRM and other program systems is that BI assumes the analysis of a business activity, but not transaction processing. According to statements of our clients, the business analyst provides timely access to a solid data, increasing quality of the made decisions, efficiency of transactions and providing possibilities of adaptation.

• What signs that it is necessary to implement a business intelligence in my company?

О: There are internal and external signs. Violations of business processes and (or) inability to manage effectively business on the basis of the available information belong to internal. In terms of innovations of the business analyst can help employees to reveal and analyze potential spheres of growth while the existing means of the analysis and the reporting do not provide such opportunity. Increase in efficiency of colleagues and competitors in the industry belongs to external signs. If you see that other companies react to market changes and opportunities quicker, grow quicker or continuously implement innovations, you can be sure that powerful opportunities of a business intelligence are the cornerstone of these phenomena.

• What main mistakes are made by the companies when implementing initiatives in the field of a business intelligence?

О: The most widespread error is revaluation of quality of the existing business data. And though the business intelligence opens new, powerful and effective opportunities of use of data for the company, the known saying is still right: one will reap what he’ll sow. The companies should use the best efforts for high-quality providing data – only in this case investments in a business intelligence will be the most effective. One more widespread error is investment into the BI project of insufficient quantity of resources and lack of support from the management. The best results are achieved by the companies in which the business intelligence is implemented not as the isolated means or the tool for one department and as the corporate control function integrated into an operational company culture.

• How it is the most effective to provide to the top management and board members information on an important role of a business intelligence?

О: The top management does not need information for the sake of information. They need a business intelligence (as well as all the rest) if it opens new methods of increase in comprehensive and net profit of the company. Representing to the management an economic case for a business intelligence, concentrate on it. Show how the business intelligence will affect a financial position of the company and other key performance indicators which are important for top managers of your organization.

• In what the value of historical data in a business intelligence? Data for what period it is necessary to include? What can be excluded?

О: It depends on the industry, type of business and availability (read: purity) data. Some companies analyze data for the last 10 years, however in most cases it is considered that data for the last few years enough. It is possible to give the general advice: it is necessary to include in a system data for such period to gain clear idea of efficiency of your business within several years. It is guarantee of successful business management in the present and effective determination of key performance indicators on the future.

• In my company there is a settled culture of work with data with the help of spreadsheets. How will use of a business intelligence affect the current state of affairs?

О: One of widespread myths about a business intelligence is the belief that at implementation of BI spreadsheets become a past remnant. It's not true. An opportunity to divide and present data in the form of the structured columns and lines will always remain relevant and valuable to business. However effective solutions of a business intelligence and the connected processes eliminate need for creation of spreadsheets and the subsequent data of data in consolidated statements manually with forces of individual employees, during this process most of all mistakes are made, on it a lot of time because of what deadlines are skirted is spent. During the work with a business intelligence spreadsheets become a fixed asset of data output. All tasks of accomplishment of difficult calculations and drawing up volume reports are solved within a BI system. After that if necessary it is possible to separate and provide the obtained up-to-date data in any convenient format. The business intelligence does not cancel spreadsheets – it does them more useful, less vremyazatratny and expensive (in respect of risks) by the tool.

• How will mobile devices influence work with a business intelligence?

О: Mobile technologies changed how in the modern world business is done, and the business intelligence did not become an exception. Opportunities are truly boundless. Safe fixation and data movement out of limits of office of the company – there where there are specialists and clients of your organization – opens unprecedented opportunities of data analysis, understanding of the received data and allows to work. Each company which begins to work with mobile technologies should think of what role of the business analyst it can play implementations of the "mobile" plan and what else advantages it is possible to take from mobilization of a business intelligence of the company.