Self-service Business Intelligence Tools: Exactly Just How Gartner Magic Quadrant Impacts Decision-making – The data and analytics industry has struggled for decades to get more people in organizations to use the data. Rebranding it as “data democratization” didn’t fix it. The advent of visual analytics did not. Low adoption is the “last mile” problem that we’ve been talking about for 15 years. The checklist looks like this:
That’s why you see statistics like: 67% of workers have access to analytics tools. Only 26% of these people use them.
Self-service Business Intelligence Tools: Exactly Just How Gartner Magic Quadrant Impacts Decision-making
In my experience, the 74% of non-adopters live in a world of limitations that are not fully appreciated. The non-adopters are
What Is Business Intelligence (bi)? Types, Benefits, And Examples
The data analysts who work with data as a core element of their role. They are managers, consultants, marketers, salespeople and frontline decision makers. They already have a full-time job, and acting as a data analyst is not. Working with data must fit into the cracks – not transform the way it works. They have limited time and limited attention to data.
Meanwhile, analytics vendors have moved in a different direction. They are eager to add more features. And why not? Their users – the 26% of users – demand it. They want more integrations, more ML/AI, more ability to adjust and configure and manipulate across their tsunami of data.
Check out the update from Tableau. “It has a number of highlights that everyone will love.”
Everyone will love it if they are already on board. But this is what we hear when we talk to the 74% who haven’t adopted these increasingly complex analytics tools like this:
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I don’t have time to learn a new tool “This looks easy to use. Can you just do it for me?” “I’d rather stick to things I’m comfortable with, like Excel and PowerPoint” I don’t have time to put together a good presentation “I spend all my time collecting, cleaning data. Then I have to do the analysis.” “I don’t love my slides, but it takes too much work and time to do a better job.” ” “They won’t open my spreadsheet.”
Logi Analytics conducted a study that suggests the gaps between the available tools and these time and attention constraints:
My friend Mike Kelly, CEO and founder of TeamOnUp, gives me a hard time because I like to say that the challenges of data are more about human problems than technology problems. Then he says, “If you believe that, why the hell are you selling a technological solution?”
And that’s what we set out to do with Juicebox. We wanted to create a data storytelling platform that my mom could use (she did for a non-profit), my 10-year-old could use (she did and blew her teacher’s mind), and a busy consultant could use to impress their clients .
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If you’re among the 74% who haven’t logged into that Cognos, Salesforce, or PowerBI account in a while, why not try something built for the busy non-analyst. Business intelligence (BI) refers to the procedural and technical infrastructure that collects, stores and analyzes the data produced by a company’s activities.
BI is a broad term that includes data mining, process analysis, performance benchmarking and descriptive analyses. BI analyzes all the data generated by a business and presents easy-to-digest reports, performance measures and trends that inform management decisions.
The need for BI was derived from the concept that managers with inaccurate or incomplete information will, on average, tend to make worse decisions than if they had better information. Financial modelers recognize this as “garbage in, garbage out.”
BI attempts to solve this problem by analyzing current data, ideally presented on a dashboard with quick metrics designed to support better decisions.
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Most companies can benefit from incorporating BI solutions; managers with inaccurate or incomplete information will, on average, tend to make worse decisions than if they had better information.
These requirements mean finding more ways to capture information that is not already recorded, checking the information for errors, and structuring the information in a way that allows for broad analysis.
In practice, however, companies have data that is unstructured or in different formats that do not make it easy to collect and analyze. Software companies thus provide business intelligence solutions to optimize the information from data. These are enterprise-level software applications designed to unify a company’s data and analytics.
Although software solutions continue to evolve and become more and more sophisticated, data scientists still have to deal with the trade-off between speed and depth of reporting.
Business Intelligence Gets Smarter
Some of the insights that emerge from big data leave companies scrambling to capture everything, but data analysts can usually filter out sources to find a selection of data points that can represent the health of a process or business area as a whole. This can reduce the need to capture and reformat everything for analysis, saving analytical time and increasing reporting speed.
BI tools and software come in a wide variety of forms. Let’s take a quick look at some common types of BI solutions.
There are many reasons why companies use BI. Many use it to support functions as diverse as hiring, compliance, production and marketing. BI is a core business value; it’s hard to find a business area that doesn’t benefit from better information to work with.
Some of the many benefits companies can experience after incorporating BI into their business models include faster, more accurate reporting and analysis, improved data quality, better employee satisfaction, reduced costs and increased revenue, and the ability to make better business decisions.
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BI was derived to help companies avoid the “garbage in, garbage out” problem resulting from inaccurate or inadequate data analysis.
If you e.g. is responsible for production schedules for multiple beverage plants and sales show strong monthly growth in a particular region, you can approve extra shifts in near real-time to ensure your plants can meet demand.
Similarly, you can quickly idle the same production if a cooler than usual summer starts to affect sales. This manipulation of production is a limited example of how BI can increase profits and reduce costs when used correctly.
Lowe’s Corp, which operates the nation’s second-largest home improvement retail chain, is one of the earliest adopters of BI tools. Specifically, it has leaned on BI tools to optimize its supply chain, analyze products to identify potential fraud, and address collective delivery cost issues from its stores.
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Coca-Cola Bottling had a problem with its daily manual reporting processes: they limited access to real-time sales and operational data.
But by replacing the manual process with an automated BI system, the company completely streamlined the process, saving 260 hours per year (or more than six 40-hour work weeks). Now the company’s team can quickly analyze metrics such as delivery operations, budget and profitability with just a few clicks.
Power BI is a business analytics product offered by software giant Microsoft. According to the company, it enables both individuals and businesses to connect to, model and visualize data using a scalable platform.
Self-service BI is an approach to analysis that allows people without a technical background to access and explore data. In other words, it gives people throughout the organization, not just those in the IT department, control over the data.
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Disadvantages of self-service BI include a false sense of security for end users, high licensing costs, lack of data granularity, and sometimes too much availability.
One of IBM’s key BI products is its Cognos Analytics tool, which the company touts as an all-encompassing, AI-powered BI solution.
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Self-service business intelligence (BI) is centered on the idea that employees should be able to access business data and gain insights—without the help of someone in IT or extensive knowledge of SQL. Usually, self-service BI comes in the form of a tool or application that allows end users across an organization to analyze and present data without the help of the IT department.
Business Intelligence: A Complete Overview
This means teams in operations, marketing, product development, sales, finance and more can use data every day to help make decisions while easily following data management processes. People can tailor their queries and dashboards to answer their specific questions and give them insights that help them in their role.
There are several differences between traditional BI and self-service BI. These differences affect who can access data, how quickly someone can get data, and how much autonomy teams have when it comes to understanding how their work affects the organization.
In traditional BI, the gatekeepers for all data are one
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