Main challenges when implementing Business Intelligence
Improving strategies and enriching decision-making processes in companies is what the information revolution offers you through Business Intelligence. Little by little, organizations are making their way to the evolution of data to generate a better concept of internal and external planning and strategy within the business.
Making changes of any kind raises certain doubts and tests the capacity of those involved. Implementing Business Intelligence as part of the company's strategy implies considering and overcoming a series of challenges that carry threats, but also a door to great opportunities for improvement.
Sponsorship of the highest level
If you get into a technology project in general, you are going to focus attention, attract people to train them, and if you don't have the highest level of sponsorship, if your board of directors is telling you that they always run the business without that data, that they do it. Intuition is important, and there it begins with problems.
We started with the Business Intelligence project and we realized that we have to train people, clean the data and suddenly the project is expensive, it implied organizational change and was not planned.
Understanding the business rules
When it comes to implementing BI, the business rules are not so clear, that when it comes to prioritizing we have to work with the processes, but they were not well documented, the rules were not well understood and our project began to grow in complexity and costs.
Existing data quality
It's a threat. We do not have a culture of transparency in Latin America. Not all companies are comfortable recording all their operations, for whatever reasons, and that is a problem, because if I want to use my data well throughout the processes, possibly I have to review the entire data management process and make sure all data is being logged.
Return on investment justification
There are investments that are easy to measure if you are substituting human labor. We have done projects where I had a group of executives that lasted two days assembling the information and now those two days are released, so I know how much they earn, how many there are and multiplied by the two days, I know how much the return on investment is. The other source is the improvement in the quality of the investments, how do I capture that and how do I manage it?
Most companies are divided into departmental silos. All these fractures in natural silos in all companies make it difficult to see the processes from beginning to end and the data we need is generated throughout the entire process. By using BI tools we are not going to end up affecting departments, but rather affecting processes.
Excerpt from the Webinar "Business Intelligence: recommendations for a successful implementation in Latin American companies" by Professor Juan Carlos Barahona, Academic Director of the Business Intelligence program.
A revolutionary program that will allow you to boost the business intelligence area of your organization. Through crucial information you will be able to make better decisions, optimize your information systems and develop strategies to lead the great transformations of your company.
Next edition: 13 of August, 2018.