Use Cases For Specific BI Tools

I get the following question very often. What are the best practices for creating an enterprise reporting policy as to when to use what reporting tool/application? Alas, as with everything else in business intelligence, the answer is not that easy. The old days of developers versus power users versus casual users are gone. The world is way more complex these days. In order to create such a policy, you need to consider the following dimensions:

  •  Report/analysis type
    • Historical (what happened)
    • Operational (what is happening now)
    • Analytical (why did it happen)
    • Predictive (what might happen)
    • Prescriptive (what should I do about it)
    • Exploratory (what's out there that I don't know about)
  • Interaction types
    • Looking at static report output only
    • Lightly interacting with canned reports (sorting, filtering)
    • Fully interacting with canned reports (pivoting, drilling)
    • Assembling existing report, visualizations, and metrics into customized dashboards
    • Full report authoring capabilities
  • User types
    • Internal
    • External (customers, partners)
  • Data latency
    • Real time
    • Near-real time
    • Batch
  • Report latency, as in need the report:
    • Now
    • Tomorrow
    • In a few days
    • In a few weeks
  • Decision types
    • Strategic (a few complex decisions/reports per month)
    • Tactical (many less-complex decisions/reports per month)
    • Operational (many complex/simple decisions/reports per day)
Read more

Introducing "The State Of North American Digital Banking" Available To Subscribers On Forrester.com

Core to Forrester's value proposition are the insights we derive from in-depth surveys to understand consumer preferences, attitudes, activities and desires. On the flip side, is understanding how businesses are responding to consumer needs and opportunities. Over the last few years, Forrester has been focusing on building up this business side intelligence, and I am happy to report we have further extended that in the retail banking industry.

Forrester in partnership with the Consumer Bankers Association did an in depth survey of digital banking executives in North America to understand the state of the digital channel. Our survey which included responses from 19 digital banking executives contains data from 13 of the top 50 retail banks in the US. The survey covered many aspects of the business including organizational structure, hiring, channel priorities, and business metrics across online servicing, mobile servicing, payments, social, and sales. The output of this survey work is two reports outlining "The State Of North American Digital Banking." The first of which is availabe on Forrester.com. 

Here are some of the highlights of the report:

  • Digital channels are growing. "The State of North American Digital Banking 2012"s survey shows that investment in the digital channels continues to grow with budgets being split 70/30 online to mobile and budgets that range from from $250K to over $25M.
Read more

Self-Service BI

Traditional BI approaches and technologies — even when using the latest technology, best practices, and architectures — almost always have a serious side effect: a constant backlog of BI requests. Enterprises where IT addresses more than 20% of BI requirements will continue to see the snowball effect of an ever-growing BI requests backlog. Why? Because:

  • BI requirements change faster than an IT-centric support model can keep up. Even with by-the-book BI applications, firms still struggle to turn BI applications on a dime to meet frequently changing business requirements. Enterprises can expect a life span of at least several years out of enterprise resource planning (ERP), customer relationship management (CRM), human resources (HR), and financial applications, but a BI application can become outdated the day it is rolled out. Even within implementation times of just a few weeks, the world may have changed completely due to a sudden mergers and acquisitions (M&A) event, a new competitive threat, new management structure, or new regulatory reporting requirements.
Read more