How do you accelerate the path to value with BI & Analytics?
With decisions riding on the timeliness and quality of analytics, business stakeholders want a higher return on investment (ROI) in BI, analytics, and data management.
According to a research paper written by TDWI “Accelerating the Path to Value with Business Intelligence and Analytics” one of the key ways to achieve higher ROI with Business Intelligence is by reducing the “time to value”—that is, how long it takes from the inception of a BI or analytics project to its completion and delivery of anticipated business value.
Looking at organizational issues, practices, development and technological innovation that could impact the ability of organizations to quickly derive greater value from data and analytics, this research uncovered a number of important issues that can determine the level of “downstream” value delivered by BI and analytics. Some of them being:
- Poor project definition and scoping
- Self-service BI, visual analytics, and data being true “self-service”
- Insufficient data quality, consistency, and completeness
- Proper management of self-service experiences
This lengthy and informative TDWI best practices report can be downloaded here.
Our belief at Modemetric is the future of BI rests on the notion that faster time to insight is highly dependent upon business users being able to access the data they want, when that want it, and be able to make sense of the data through self-service analytics.
For organizations embarking on their BI journey or trying to find value in their existing investment, one must consider all the factors that contribute to the BI and analytics projects, including user ability to access relevant data and organizational ability to react with agility and flexibility. Accelerating the path to value depends on improvements in technology, methods, and practices. This is where Modemetric can help. Schedule a demo to see what separates us from everyone else.