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Published December 12th, 2016 by

6 Tips on What to Look for in Business Intelligence Software

6 Tips on What to Look for in Business Intelligence Software

For data processing and analysis, it’s important that we have the proper business intelligence software for it. We can’t simply take anything at face value and make hasty decisions for the sake of getting quick results. We have to undergo a meticulous selection process before we can choose the tools of our trade.

By definition, business intelligence is a collection of all methodologies, software applications, and business systems that help with our business planning process and strategy. It has become an essential tool in various types of businesses all over the world, and it has made marketing much easier to do since data is being analyzed at a much higher speed and in larger bulks.

If you’re new to BI software, then you might want to research first about what it is and what it can do for your business. Otherwise, read on for key points that you need to look for when choosing business intelligence software.

  1. Aligned with business goals

In everything we buy, we always have to consider whether the product or service can be used as a tool to achieve our goals. It’s no different when it comes to choosing a business intelligence software or BI software. One of the first things to do is determine and outline all the goals of your business. Starting with the bigger, overall mission of your organization, you must create a map of sub-tasks and steps. Being able to actually look at it and allowing your partners to see it as well will make what you want out of business intelligence software clearer for you. Maybe your business is not that big at the moment and you might want to settle for an open-source BI software which can provide you with the base necessities. Knowing what you want helps you narrow down your choices to a couple of candidates and this is much more productive than just winging it.

After you have done this, you can now vividly define your criteria. A well-structured set of criteria with a specific group of targets helps bridge the features of the software to its benefits. The software must be able to reflect your vision for the business across all users and departments. Make it so that the BI software you choose can give others access to all the types of data they need in order to work collaboratively.

  1. Innovative but user-friendly

It might seem trivial, but a BI software’s user interface can be a deal-breaker if not done properly. The software must be able to present data and perform functions that will allow for easier analysis and faster task completion. The ideal interface must be familiar or something Excel-like on the surface. It’s a look we all know and love and for good reasons. Having an interface look and feel like an Excel spreadsheet will make it easier for users to access it without depending too much on IT. Simple drag-and-drop functionalities can also go a long way. It helps make the application of functions ten times easier. Find a software that can perform different kinds of tasks and support a wide variety of pre-built functions.

Call the software vendor and schedule for a test drive. You wouldn’t buy a car without knowing how it runs first hand. Look for areas of difficulty and have your data scientists test it. It pays to know how the processes work as well, such as data mining and analysis. You will not only be able to see if it works, you will also be able to determine if other people can easily adapt to it. Do this and your analysts will thank you for it.

  1. Fits the bill

Once you know what the BI software is for and what it should look and feel like, it’s time to see if it offers the functions you need in order to perform tasks. Looks can be deceiving. Even if the dashboard looks good, if it can’t perform the function that you’re looking for, then it’s all for nothing. Don’t depend on appearance alone. The business intelligence software you choose must be able to process data modeling, reporting, and analysis in one go. Not being able to have that ability delays the achievement of your objectives. Also, be sure that your BI software of choice is flexible and cohesive that can allow you to come up with solutions using only one platform. Coming up with solutions separately can often be counter-productive.

The vendors that you choose must offer proof of concept (POC) through demos and free trials. You need to know if they offer excellent support services for users. A good follow-through support is always important when purchasing any type of software. Lastly, you need to determine the degree of customizability of the BI software. Find out for yourself through the POC. This will help you determine if you’re getting the value for your money. BI software has tremendously improved the way businesses are being operated that there are other industries that use BI now, too.

After you’ve made it clear what you want out of the BI software, you will be able to make a short-list of the different vendors that offer them. What you’ve done so far can hopefully make you narrow it down to two or three candidates.

  1. Works with available resources

Speaking of buying a car, you probably wouldn’t get a really expensive one if the parts and fuel weren’t available in your area. The same logic applies when buying a software for your business. It must be able to work with already-existing infrastructure and data. Resources also include money and human labor. The cost must be proportional to its features and your analysts – the users of the business intelligence software – must be comfortable and confident about the choice that you make. It must also be able to handle all sorts of data that you already have, whether they be structured or unstructured. There must be enough flexibility in order for the BI software to analyze different types.

An effective BI software must be high-functioning yet low maintenance. It must adapt to your business needs and not the other way around. If you have to make your goals smaller, do so but not at the cost of compromising your core principles entirely. Make it so that you start small and work your way up gradually and in small increments.

  1. Comprehensive and has storytelling power

A good business intelligence software tells a story. It must be able to make data presentation and analysis simpler and more sophisticated. You can choose to add external elements such as videos or images to the dashboard in order to paint a better picture. It must be intelligent enough to make adjustments whenever the data being provided varies from the previous bulk. It must have room for easy integration with tools for visualization in order to make it more comprehensive upon presentation. If done right, a BI tool can give you the answers you’ve been looking for in order to run your business more efficiently.

Furthermore, you can also choose to have a BI software that has the ability to export a bulk of data to formats that can easily be read by other systems. You have to consider if it will be necessary for your tool to be connected to other data sources or whether or not it has a data warehouse. These points of consideration can help improve the storytelling power of the BI software that you will choose for yourself.

  1. Offers room for future improvements

As more advanced technology comes, the more likely it is for the needs and goals of your business to change. You need a BI software that can adapt to those changing needs without sacrificing time and efficiency. The architecture of the business intelligence software must be made so that it can support upcoming execution technology as it matures. At the same time, it must be equipped with the ability to retain data permanently or purge data older than a user-specified time frame to make room for new ones and to eliminate a surplus of unnecessary data.

On that note, the system must be extensive to the point that it can accommodate different languages and be future-ready for further developments on data ingestion and integration. There must also be options for deployment methods, whether On-premise or In the Cloud. In order to achieve this, customization must be made to be more effective and easy to do.

Looking for the best business intelligence software is definitely no walk in the park if you don’t know what you want and what you need in order to achieve it. Thankfully, with a working collaboration between you and the BI software vendors, the task is much simpler. Remember to never compromise your business principles for the sake of saving money on BI software. Know that different scenario may call for the help of the BI software, so you must always be prepared for that. You can be bolder and more demanding as long as your path is clear and well-defined. Explain to the vendors what you are looking for in a BI software and how you would want to apply the solutions that they offer.

Don’t forget to check out this review on the best business intelligence software in the market.

Trevor Price

Trevor Price helps small businesses leverage mobile technology to reach their audience and extend their capabilities in delivery, information, and tracking.

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