What is Business Intelligence BI: Complete Implementation Workflow

I may simplify some concepts and I won’t cover some of the advanced topics of these tools. We need a clear picture of what we’re trying to accomplish, how we’re going to accomplish it, and how we know when that has been accomplished. Let’s define “project goal” so that we can start to figure out what our project team needs to do to reach it. I have come up with an idea to create a series of articles covering a small-scale end-to-end Business Intelligence (BI) Project. And I will try my best to elaborate and simplify WHAT, HOW & WHY we are doing these. A powerful BI strategy takes conversations beyond simple collaboration.

ScienceSoft created software that helped US healthcare centers and retirement homes digitalize patient and medication data processing, analyzing and reporting and improve their management processes. The system created by ScienceSoft automates data integration from different sources, invoice generation, and provides visibility into the invoicing process. We have already engaged ScienceSoft in supporting the solution and would definitely consider ScienceSoft as an IT vendor in the future. Further, in the course of BI evolution, the team can upgrade the solution with self-service capabilities, advanced business analytics and data science capabilities, etc. Your strategy can’t predict all the ways in which your organization’s business or your technology infrastructure will develop.

Business Intelligence Implementation Steps

BI tools are allowing organizations to monitor competitors’ performance, changes in the market, and customer behavior changes. You can do this by analyzing competitors’ case studies, blogs, articles, videos, etc. After defining your scope of business intelligence, you will probably realize just how big of a project it will be to implement BI.

In the sales department, business intelligence tools can give you useful information about customer interactions, sales patterns, and performance metrics. You can use BI tools to track data, like click-through rates and conversion rates, across your campaigns. By configuring your business intelligence system to closely track these metrics, you will be able to make more informed decisions and get better results. According to Forbes, “Many companies, corporations and businesses are investing heavily in business intelligence to help them in ascertaining market trends and how to improve on their services.”

Business Intelligence Implementation: A Step-By-Step Strategy Execution

With identified relationships, BI solutions are able to make correct requests, assemble and combine data properly, and extract it optimally. Named measures as well, refer to numerical evaluations which will be https://www.globalcloudteam.com/ comprised in statistics and reports. Absolute numbers, monetary values, ratios, percentages, etc. are metrics. When the measures are ready, you can build assessable metrics to evaluate existing magnitudes.

Business intelligence implementation is setting up practices and technologies to collect, aggregate, and analyze business information. Itransition delivers effective BI solutions to help companies make data-driven business decisions, improve operational efficiency, and drive more revenue. I sometimes think this first step should go unsaid, but too often organizations stumble at the start of BI initiatives.

Data Engineering Concepts, Processes, and Tools

Making data-driven decisions requires a bird’s eye view of all the aspects of your business, even those you didn’t think of. I often say that data without analysis is a wasted asset, but analysis without action is a wasted effort. A complex BI dashboard may show a range of KPIs, but it can’t tell business users what to do about them. While data privacy and security are naturally related to one another, you must consider the particular needs of each discipline in implementing a BI strategy. This is especially true when dealing with sets of big data that aren’t stored in a conventional relational database with mature, fine-grained access controls.

Another big name in the business intelligence industry is Zoho Analytics. It offers a full infrastructure for both small and large businesses with a scalable interface. Among its useful features, are open RESTful APIs to connect all your required CRS and ERP systems, as well as collaborative workspaces to share with your employees or stakeholders. Automation may lower the quality of the end reports and their flexibility as it will be limited by the way the reporting is designed. But, as a benefit, the self-service approach doesn’t require actual technical staff to operate the system all the time.

Build a BI community of practice among business users

Help employees see the bigger picture and value behind the new software; explain how new tools will improve their work and what the reasons are for introducing such changes. Before implementing a BI strategy or integrating corresponding tools, it’s necessary to understand in which state your data is, currently. This process includes examining all the existing sources of data, and evaluating how data is stored, managed and shared.

• It comprises an instrument kit, software, and technologies allowing to extract raw data to analyze and explore it onward.
• Most businesses do not maximize all the data at their disposal because they lack the right tools.
• Therefore, they protect data with the help of special technologies, and the privacy issue is of paramount importance.
• These answers determine the development plan so you have an understanding of what initiatives need to be implemented.

SaaS BI tools use cloud computing systems managed by providers to ensure data analysis opportunities to businesses by way of a service that’s typically priced on a subscription basis. After all your probing, planning, questioning, aligning, and collaboration, you created a business intelligence strategy! Take them along in your journey of success and measure that success faithfully so that you can share it with stakeholders and every member of your team. Your training timeline should extend long after initial deployment of your business intelligence solution. Training will equip employees with the practical skills they need to inform their daily responsibilities with data and should teach them just how important making data-informed decisions is to your company’s success.

Conceptualization and platform selection

We develop the custom algorithms (ETL) necessary to automatically prepare data nightly and load the data solution(s). In order to speed this process and facilitate an agile cadence we’ve spent years developing a proprietary data warehouse automation platform that eliminates 90% of the effort compared with hand coding. As it is the heart of the technical design, we constantly reevaluate the data solution.

This way, they are able to pinpoint the busy days and the exit points in their users journey. Extract, Transform and Load (ETL) tools are the primary means of integrating data for business intelligence uses. Other integration methods that can be used include data virtualization, data profiling and data cleansing. The biggest  difference in business intelligence and business analytics lies in the questions that they answer.

Understand the Difference Between Reports and Dashboards

With five years in BI development and consulting, we’re confident that our highly-qualified business intelligence developers will help you create comprehensive solutions to help your business grow. We understand that most people experience difficulties accepting innovations. So, we can business intelligence development hold training to explain the role of business intelligence in organizations and how it can assist employees in gaining new knowledge and increasing productivity. With the previously completed phases of the business intelligence implementation plan, the implementation will be seamless.