Most people think that only CEOs and company owners have the need for business intelligence. This is not the case. It can be used in any level of the company by all decision makers. The principles I have listed here can be applied by both store manager and top management alike.

Though the definition of business intelligence may seem simple, many factors dictate whether the process is successful or not. Here are some of them:

1. The tools used in business intelligence must yield accurate results.

Accuracy is one of the pillars of the business intelligence system. If there is a flaw in the gathering and analysis of data, the information at the end of the process will also be incorrect. This may lead to company leaders making wrong decisions. Because of this, all parts of the business intelligence process must be continuously tested to keep it accurate. Sometimes, changes in the industry will require the company to also make changes in some parts of the business intelligence process. The process must be designed so that it can be easily adjusted to the changes in the industry.

2. The information gathered must be valuable for the company.

The value of the information should also be taken into consideration when designing and testing the business intelligence system. The insights that the process creates should be important in helping the company reach its goals. The company should not waste its resources in gathering unnecessary data and analyzing for the wrong insights. The process should also be adjusted as the needs and goals of the company change. As time passes, the company leaders will shift the company’s goals to increase its survivability in the market. To make sure that the business intelligence process creates valuable insights, the developers of the process should work with the business leaders. They should work together and ask the right questions on how to make the business improve.

3. The results of data analysis should arrive at the right time.

Late insights can cause a big company millions. For smaller companies, their very survival can depend on the timeliness of the information. The decision makers should be able to depend on the timeliness of the delivery of the information. If the system can deliver the information at the right time, it could create considerable advantages for the company in the market. If a company get information on the products that consumers want before the competitors for example, the decision makers of the company will be able to make changes ahead of the competition. The insights will lead to changes that will improve the chances of the company to achieve better sales numbers.

Many factors may affect the timeliness of business intelligence results. A delay may happen in various parts of the process. It could happen in the beginning of the process when the data is being collected. If one store in chain of stores fails to relay its sales information the company’s main server for example, the process will not be able to continue. There could also be a delay in the process of the computation of the data. This type of delay is dependent on the hardware and software quality of the tools used by the company. If the information being analyzed is too big for the specs of the computer, it may cause delays in the business intelligence process.

By ‘actionable’, we mean that the company should be able to respond to the insights based on the information provided by the system.

Lastly, certain logistical factors may be required after the analysis. In some cases, the results need to be transported manually or electronically. A multinational company may also need to translate the contents of the business intelligence report for non- English speakers.

4. The results of the analysis should be actionable.

All the factors above are of no use if the insights developed by the business intelligence system are not actionable. By ‘actionable’, we mean that the company should be able to respond to the insights based on the information provided by the system. These actions should lead to the completion of the goal of the company. The actions suggested by the system should be within the power of the decision makers. If the insights of the business intelligence process suggest that the company should make 1000 factories in one year for example, the decision makers will not be able to do the task required. Though this example is an exaggeration, it should guide you in developing your own business intelligence process.

In conclusion my points might not be exhaustive but it throws limelight into how your organization can be a wiser one. I cannot over emphasize the need for an effective BI in your organization. Every steps matters in the scheme of things and allowing the BI process to complete its cycle makes your organization stand out.

Olaniyi Moluga

[email protected]

www.sgdatanet.ng