Most frequent questions and answers
Business intelligence software provides business leaders with the information they need to make more informed business decisions. It is used as a foundation for strategic decision-making by eliminating as much of the guesswork and gut-feeling from the decision-making process as possible.
Business intelligence software are used with both internal and external data sources to glean information like competitive intelligence and market trends as well as internal insights like common customer and industry pain points, key stakeholders, and commonalities in lost opportunities.
The data sources used to build business intelligence include customer relationship management (CRM) systems like Salesforce.com, supply chain information, sales performance dashboards, marketing analytics, contact center call data and metadata i.e. information describing data. Business intelligence software helps companies to bring all these disparate sources into a single unified view providing real time reporting, dashboards, and analysis.
Business Intelligence software such as Sisense also includes predictive analytics and machine learning allowing your data to alert you. Embedded analytics enables you to provide business Intelligence to your customers as part of your product suite.
Gartner says that anywhere from 70 to 80% of business intelligence initiatives end up failing. Why? Here are a couple of the common reasons:
- Old Tech & Bad UX: Just going with a name brand that was popular years ago may not be the best fit for your business.
The result is a clunky interface your employees hate using, or one that fails to generate meaningful insights
- Quality vs Quantity: Taking data and applying it to help the company grow through smart analytics. is what Business Intelligence is about. This doesn’t always mean more data. The most critical component is the intelligence and lessons that can be gained from that data.
As data increases and competition for customers moves on-line, the speed of data to knowledge becomes salient in making reliable, trustworthy, informed decisions. The biggest impact comes from Government and regulatory bodies all calling for smarter measurement methods and greener standards. This requires organisations to understand the impact of change and how to mitigate risk. Contact us to find out how.