Business Intelligence is an integral part of successful business management. Unlike most IT projects, the goal of BI is not just functionality of an application, but the data itself must be useful as a tool. This end result of BI should be higher net income, increased growth and efficient decision making.
Most businesses have very similar data needs for effective business management. Some of these could be
* Strategic direction and management of employees, goals, and objectives
* Software capabilities for at-a-glance decision making
* Basic but effective and efficient decision support capabilities, including training, customer support and project management
Some companies have a difficult time keeping up with these three items. Not only is it difficult to keep up to date with latest technology innovations, but also with user requirements and customer demands. It must be understood that no technology stands alone or becomes successful on its own. There are key attributes that help contribute to success of this business intelligence arena.
Successful Business Intelligence depends upon several different attributes. Certainly, proven IT development methods, such as effective software development life cycle programs drive success. These methods start with documentation of the business user needs and how information will drive specific actions.
Two attributes make BI a little different. BI projects must be driven by how information will be used. A good business intelligence architect will have to become a knowledge expert on business processes that drive data entry. The IT group building out a business intelligence system must be focused on the business as a whole with the system development knowledge.
The second attribute that is unique to any business intelligence system is the linkage of day-to-day activities to the company’s strategic goals and visions. In the BI arena, some users need to know what happened yesterday and others need to know what business trends have been over the years. No matter what, though, the information delivered must be actionable, accurate and timely.
SOURCE:
http://businessmanagement.suite101.com/article.cfm/business_intelligence_basics
Most businesses have very similar data needs for effective business management. Some of these could be
* Strategic direction and management of employees, goals, and objectives
* Software capabilities for at-a-glance decision making
* Basic but effective and efficient decision support capabilities, including training, customer support and project management
Some companies have a difficult time keeping up with these three items. Not only is it difficult to keep up to date with latest technology innovations, but also with user requirements and customer demands. It must be understood that no technology stands alone or becomes successful on its own. There are key attributes that help contribute to success of this business intelligence arena.
Successful Business Intelligence depends upon several different attributes. Certainly, proven IT development methods, such as effective software development life cycle programs drive success. These methods start with documentation of the business user needs and how information will drive specific actions.
Two attributes make BI a little different. BI projects must be driven by how information will be used. A good business intelligence architect will have to become a knowledge expert on business processes that drive data entry. The IT group building out a business intelligence system must be focused on the business as a whole with the system development knowledge.
The second attribute that is unique to any business intelligence system is the linkage of day-to-day activities to the company’s strategic goals and visions. In the BI arena, some users need to know what happened yesterday and others need to know what business trends have been over the years. No matter what, though, the information delivered must be actionable, accurate and timely.
SOURCE:
http://businessmanagement.suite101.com/article.cfm/business_intelligence_basics
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