{"id":2621,"date":"2011-12-15T07:00:49","date_gmt":"2011-12-15T15:00:49","guid":{"rendered":"http:\/\/www.formtek.com\/blog\/?p=2621"},"modified":"2011-12-15T07:00:49","modified_gmt":"2011-12-15T15:00:49","slug":"business-intelligence-building-the-foundation-for-bi-success","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/business-intelligence-building-the-foundation-for-bi-success\/","title":{"rendered":"Business Intelligence: Building the Foundation for BI Success"},"content":{"rendered":"

While few Business Intelligence<\/a> (BI) projects can be classified as failures, only about a quarter are called truly successful. \u00a0The rest of BI projects are in a neutral state somewhere in between, achieving results, but just not at the level that had been expected. \u00a0Many projects, while not being outright failures, \u00a0are \u00a0falling short of expectations in the areas of revenues, customer service, and operating efficiency. \u00a0That’s the results of the 2011 Successful BI Survey conducted by a group called BI Scorecard<\/a>.<\/p>\n

In terms of adoption, the also report found that while there is a steady rate of BI tool adoption by companies, it just isn’t happening as quickly as many had expected.<\/p>\n

Cindy Howson<\/a>, founder of BI Scorecard, commented in a blog posting that “successful companies are beginning to report higher BI adoption rates, so maybe adoption is a lagging indicator. Companies continue to cite untapped potential, and BI spending shows signs of improvement. But one of the biggest challenges companies are having is with constrained resources. There is more demand for BI than IT can satisfy, yet IT is slow to transition from data gatekeeper to BI enabler. In some cases it’s the business people who would rather fall back on the ease of a prebuilt report, ideally landing on their desk or in their email inbox. Old habits die slowly.”<\/p>\n

With adoption of BI being slow or stagnant, what’s needed for more companies to be able to move forward with adopting Business Intelligence? \u00a0And\u00a0what can be done to ensure that new projects can be successful?<\/p>\n

IBM and MIT Sloan Management Review<\/a> tries to address those questions. \u00a0They identify the following keys which should be in place in order to ensure success with a BI proejct:<\/p>\n

    \n
  1. data-oriented culture<\/li>\n
  2. information literate managers<\/li>\n
  3. on-board staff members with expertise in analytics<\/li>\n<\/ol>\n

    David Kiron<\/a>, executive editor of the MIT Sloan Management Review, said<\/a> that\u00a0“companies that have all three [of these keys] use analytics to deliver advantage in the marketplace.”<\/p>\n

    Fred Balboni<\/a>, IBM’s global leader for Business Analytics and Optimization <\/a>(BAO), agreed with this, saying that\u00a0“our research shows that the early and aggressive adopters of analytics make significant gains in both performance and overall competitiveness. \u00a0These indicators point to an urgent need for organizations to foster a data-oriented culture and drive an analytics strategy that embeds fact-based insights into decisions and processes at every level of business.”<\/p>\n

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    While few Business Intelligence (BI) projects can be classified as failures, only about a quarter are called truly successful. \u00a0The rest of BI projects are in a neutral state somewhere in between, achieving results, but just not at the level…<\/span><\/p>\n

    Read more ›<\/a><\/div>\n

    <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2621","post","type-post","status-publish","format-standard","hentry","category-business-intelligence"],"_links":{"self":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts\/2621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/comments?post=2621"}],"version-history":[{"count":0,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts\/2621\/revisions"}],"wp:attachment":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/media?parent=2621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/categories?post=2621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/tags?post=2621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}