Too little data, too much data, inaccessible data, reports and dashboard that take too long to produce and often aren’t fit for purpose, analytics tools that can only be used by a handful of trained specialists – the list of complaints about business intelligence (BI) delivery is long, and IT is often seen as part of the problem. At the same time, BI has been a top implementation priority for organizations for a number of years now, as firms clearly recognize the value of data and analytics when it comes to improving decisions and outcomes.
So what can you do to make sure that your BI initiative doesn't end up on the scrap heap of failed projects? Seeking answers to this question isn't unique to BI projects — but there is an added sense of urgency in the BI context, given that BI-related endeavors are typically difficult to get off the ground, and there are horror stories aplenty of big-ticket BI investments that haven’t yielded the desired benefit.
In a recent research project, we set out to discover what sets apart successful BI projects from those that struggle. The best practices we identified may seem obvious, but they are what differentiates those whose BI projects fail to meet business needs (or fail altogether) from those whose projects are successful. Overall, it’s about finding the right balance between business and IT when it comes to responsibilities and tasks – neither party can go it alone. The six key best practices are:
· Put the business into business intelligence.
· Be agile, and aim to deliver self-service.
· Establish a solid foundation for your data as well your BI initiative.