The all-too-familiar promise of enterprise business intelligence is the ability to optimize decision-making at every level of the organization through a blend of systems and technologies that leverage highly useful, accessible, accurate data. In many industries, BI use is so pervasive that it is essential just to remain competitive! But many organizations never realize the full value simply because they are not agile enough to adapt to the new speed and complexity.
The Good: Great Opportunities
Enterprise BI solutions offer a powerful competitive edge in today’s fast-paced, high-tech, global economy.
For years, organizations have been automating their reporting and online analytical processing capabilities. Recent trends are moving toward advanced analytics as the central focus of BI. This includes data mining, predictive analysis, complex SQL, natural language processing, statistics, and artificial intelligence. Advanced analytics provides a competitive advantage as it allows organizations to detect and model patterns and trends in all areas of their business, such as market shifts, supply chain economics, cost fluctuations, and more.
The Bad: Typical Challenges
Given the myriad of enterprise-BI solution options, just getting started can be challenging. In addition to the standard solutions that have been in use for many years, new Web 2.0 services, virtualization, social networking, and software-as-a-service options are available now, too. With so many choices and possible implications for the business, the decision-makers need to be thinking about how to optimize the balance between customer and shareholder value while considering all the financial and political implications.
The Ugly: The Real Competitive Advantage
Following an enterprise BI implementation, the expectation is that our day-to-day tasks will get simpler and more satisfying. After all, we have streamlined and automated many of the left-brain linear processes, freeing us to focus on expansion and innovation. But the reality is often very different. What many leaders don’t fully comprehend is the destabilizing effect that enterprise BI can have on an organization. Successful BI implementation requires a level of agility that is not inherent in most organizations. Continue Reading