From smartphones to desktops, business intelligence can be accessed in such a way that anytime and anywhere, business leaders and employees can collect insights that can be used to create strategies and achieve their long-term goals. As a result, business intelligence is considered to be essential for companies that want to stand above their competition and dominate the market.
Business intelligence tools and techniques take your data and convert it into information that you have and turns it into data that you can use to future-proof your company. Business intelligence software takes your data and converts it into the information you need to inform your strategies and the knowledge necessary if you want to turn your leads into sales, investments into profit.
These abilities are only part of the rationale for getting such a software. And according to MicroStrategy, 65% of companies already have plans to increase their analytics investments. If you have your business intelligence system, then you’re already one step ahead of these companies. The next thing you need to do to truly beat the competition is to improve and tailor your business intelligence software according to your needs. Here are 6 strategies that you can employ to do just that:
1. Plan, Execute, and Analyze
The first strategy is to get to know your business intelligence system. Think about what your business intelligence can do in terms of helping you plan, execute, and analyze what you need to know. For instance, the planning stage will require you to determine which dataset you’re going to have to give the system. Executing will involve using the data and any additional information from your software to implement strategies in the best way possible. Finally, the analyzing stage involves taking the results of the strategies and figuring out where it failed, where it succeeded, and what you can improve.
2. Improve Your Live Dashboard
The second thing you need to do is to talk to your team and find out how their experience with the software has been. Figure out what to do to improve that experience. For instance, you might want to check the live dashboard of your software as it is meant to provide you with real-time data. If it doesn’t provide you with the information you need at the start and end of the day, then figure out how you can improve it. You might also want to pay special attention to the employees who handle the type of data that leads to business intelligence. Through this strategy, you can collect the information you need to really determine if the system you have wins all the business intelligence tools comparison that you can throw at it. This strategy builds confidence and usability.
3. Provide Software Training
Take your list of features and your newfound knowledge of what your employees do and determine which feature matches their needs. Ensure that once you’ve figured out the matches, let your employees know what they can do to take advantage of each part of your system. It is this part of the strategy that you might encounter problems. Pointing out the features may not be enough because your workforce lacks the knowledge and skills they need to understand what your business intelligence software can do. Aside from technological training, you may also help them gain more understanding of GL Account planning, CapEx planning, and simulation implementation, among others. The end result should be a combination of a capable platform and workforce that can help you make good decisions every step of the way.