We live in a world where forward-thinking organizations are trying to reach exciting new levels of success. And they are doing this by leveraging the capabilities of innovative new Business Intelligence solutions. We can say that, data analytics is something that is not just for the big guys anymore. Instead it has become accessible to different ventures, organizations, and businesses of all shapes and sizes. In short, we can say the power of data analytics has become universal and the success stories have become seemingly endless.
But with that, there are also some challenges that individuals or organization as a whole have to face. In this article, we are going to talk about the key Business Intelligence Challenges in detail.
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Key Business Intelligence Challenges:
Here we shall talk in detail about the key Business Intelligence Challenges.
Too much costly:
As we all know organizations are always facing budget and resources issues and especially in small businesses or organizations where the capital is just too limited. Here the price of deploying BI is quite a concern and that is why small and medium-sized enterprises are mostly discouraged to use BI. Also if you have limited resources then it is difficult to look for qualified professionals or consulting analysts as it would be out of budget and without them the BI software cannot be deployed properly. Thus much bigger investment is needed to deploy BI into a small-scale business which can cause capital issues.
Reporting data from different sources:
A survey conducted by Matillion stated 27.4% of the businesses claimed to have reported or analyzed data from multiple systems or data sources. And this they said was the biggest challenge they ever encountered. Now what is the problem here? Your organization whether big or small is collecting data from different sources, yes that is fine. But did you realize this data being collected is often spread across different systems or even software or databases? With this much spread of data, it can become very difficult to choose the desired information at the right time and thus can be an arduous task to do. Check out IBM Data Analyst Professional Certificate here.
Mobile-based BI is no easy:
As we all know we are now living in a mobile age. Everyone has a mobile and with more mobile devices than human beings, the days where all the planning, sharing, and working on projects by the team under one roof are gone. This drastic shift into the mobile age is clearly depicting the increased demand of mobile-based BI solutions. Many BI Tools like Tableau has already provided support for mobile, even though it is not a bad thing, but think of it as a direct relation between the two where the increase of business intelligence-based demand leads to increase in business intelligence problems. But this problem can be solved by working with the right interactive BI platform that is capable enough to log in and pull invaluable insights from mobile devices.
Training of end-users:
This is another challenge that all organizations no matter the size have to face. Training and change management programs which are relevant to the BI initiatives demand a proper involvement of business executives and managers to perform well and become successful. And this can be done by giving proper training to the end-users as well. Visit here to understand how to use machine learning, effectively?
Poor quality data:
This challenge is also quite real and has put organizations in much trouble. We are living in the age of information and more data has been generated in the recent years than the rest of the history. There is so much data available in today’s world that we are swimming in data and that is where the challenge arises which is, to mine for the golden information required for the success of our business. For this purpose, strategies must be developed to promote data quality control within the organization.
Conclusion:
Business Intelligence has without any doubt changed the fate of so many organizations and comes with a lot of benefits. But with so many benefits come a little challenges as well which we are bound to tackle in order to become successful. The above mentioned are some of the key business intelligence challenges explained which you can take a look at. With these come many more challenges that organizations have to tackle. But every problem has a solution and so does these challenges. Therefore, take a look at these 5 key business intelligence challenges and never stop learning.