If you are a business leader who wants to steer the organisation to the next level of success, you should consider BI (Business Intelligence). BI is composed of tools that are designed to capture, prepare, present, analyse and report data. Through this process, data will be turned into actionable information that can help you make a more effective decision.
Fortunately, there are many BI tools but finding the right solution for your needs can be daunting especially if you do not ask relevant questions. So, before you commit, here are the key questions to ask when assessing business intelligence tools:
What pricing structure is right for my business?
The first thing that you need to ask is the pricing structure. The answer depends on how you plan to use BI tools now and in the future. Do you have many users or just a few? Do you have multiple departments or only a couple of salespeople?
It is important that you grasp the answers to these questions because the pricing will depend on your business structure and plans. While you are at it, you should also determine if you need licensing per server, per CPU or per named user.
Will this scale affordably?
As mentioned, the right tool will depend on how you plan to use the tools now and in the future. It is prudent to future-proof your solution. With this, you need to ask if the solution will scale affordably. This is to ensure that you can accommodate an increase in the number of users without adding large investments in infrastructure or storage.
What about the security of my data?
Another thing that you need to consider is the security of your data. You need to ask the BI provider about security measures. Security is a crucial issue especially in the age of data breaches. With this, you need to choose a provider that employs state-of-the-art security.
Is it possible to get an up-to-date and comprehensive view of my business on one platform?
The beauty of BI is to provide comprehensive solutions based on your needs. If you need to get an up-to-date view into your business on one platform, the right BI provider will make it happen. The key here is to ensure that the solution has the ability to extract data from all sources and process them in a way that it makes sense.
Can users access BI reports from anywhere?
Moreover, you have to ask if the users can access BI reports from anywhere or if they need to be on the premises at all times in order to view the reports. This is where data storage comes into the picture. Remote access is a big game changer for users – especially for salespeople constantly on the road meeting with clients.
Without a doubt, BI (Business Intelligence) tools have a profound effect on the way your businesses analyse data and make decisions. While there are many solutions and providers in the market, not all are created equal. The first thing you need to do is to ask relevant questions. With this, you can immediately spot the right tool according to your business needs.