How many data sources do you draw from when making a business decision? How long does it take to collate the data you need?
If you felt a little weary just thinking about that, I invite you to reconsider how you collect and leverage your data. Decision-making does not have to feel arduous. When you have the right tools supporting you, it should feel quick and effective.
Business process intelligence gathers, analyses and reports on data to support you in the decision-making process. Business intelligence platforms use visual dashboards to show you what is happening across your business, so you leverage your data to make informed business decisions.
Why you need business process intelligence
Business intelligence platforms are essential for decision making. BI tools help organisations aggregate data from disparate sources, including internal systems and external providers. The platform then cleans the data and processes it to provide actionable insights that you can leverage to improve business performance.
BI platforms enable you to find areas for improving overall efficiency and productivity. They allow you to collect, analyse, and act on data quickly and effectively. Staff can also access BI platforms to enhance their decision-making and streamline processes.
Business intelligence platforms are essential tools for companies to identify and solve potential business issues. By analysing data collected from various sources, BI platforms can help you identify potential problems and the next steps you may need to take in resolving them.
How business process intelligence supports decision making
Predictive analytics to support decision-making: You need accurate and timely information to make sound decisions about your business. BI tools deliver predictive analytics by collecting and analysing data to predict outcomes and provide options for your next steps.
Data cleaning delivers high-quality data: Data cleaning is essential in any business intelligence solution. You cannot make the most accurate decisions or wholly understand your operations without clean data. Data cleaning removes inaccuracies and inconsistencies from data, so you can feel confident in leveraging high-quality data, every time.
Reporting dashboards make data easy to understand: Reporting dashboards are crucial to business intelligence. They make data easy to read and understand by compiling data from various sources into customisable reports that you can access and share with other team members.
What your BI platform should deliver
Microsoft Power BI is a business intelligence platform that delivers comprehensive data analysis, reporting, and visualisation tools. Its four key features include:
- Data discovery: Connecting to a wide range of data sources is critical for data discovery. With Power BI, you can connect various data sources, including Excel files, SQL Server databases, and cloud services.
- Data visualisation: Once you have connected your data sources, you need to visualise the data to make sense of it. Power BI provides several tools for data visualisation, including charts, graphs, and maps.
- Data analysis: You need to be able to analyse your data to make better decisions. Power BI provides various tools for data analysis, so you can work with the tools you prefer.
- Reporting: Once you have analysed your data, you will want to share your findings with others. Power BI delivers custom reports and dashboards.
How to get your business process intelligence strategy started
Before you dive into implementing your business intelligence platform, you need a plan. I recommend you start with the following:
Review the systems and data you already leverage
Before deploying your business intelligence solution, you need to understand the systems and data you currently leverage. Where do you currently store your data? How do you use it?
I recommend speaking with people who often access data or need it the most. You might have some systems that work well for people – take note of these to find a way to incorporate them into your new strategy. You will also want to review and document processes that do not work or anything you believe the organisation lacks.
Once you have these noted, you can ensure you target the right pain points in the business.
Outline the key performance indicators (KPIs)
You should set KPIs when planning to deploy a business intelligence solution because they track the solution’s performance and ensure it meets business objectives. Additionally, you can leverage the KPIs to track how the platform supports employee productivity and other aspects of the business.
Address and troubleshoot potential roadblocks
You need to be aware of potential roadblocks when planning your BI strategy. One such roadblock is a lack of resources. Without the proper personnel and tools, it can be difficult to gather and analyse data effectively.
Another common roadblock is a lack of understanding of BI concepts among employees, creating confusion and frustration when using BI tools. It is best to put together a training program to support your staff in adopting the BI platform.
Make a plan for training your staff on being data-driven
When it comes to BI, successful implementation depends on how everyone in the organisation leverages data. So, you need a plan for training employees on understanding data before implementing a BI strategy.
One of the most important aspects of this training is ensuring employees understand using data to make decisions. I recommend training them on the data available, how to access it and how to interpret it. They will also need to know when data is missing or inaccurate.
Get More from Your Data with Soma
Running a business is already a challenging endeavour without the added burden of time-consuming and tedious reporting. The soma Empower BI Portal leverages Microsoft Power BI to automate reporting and provide the data you need in real-time.
We provide all-inclusive support, maintenance and management of the Power BI platform. As your managed service provider, soma offers a single point of contact, convenience and flexibility for all of your needs.