The growing competition in the business has increased the value of technical tools. These are helpful in making efficient decisions in the business growth. Business Intelligence (BI) tracks the insights of the information and presents to the organization so better arrangements can be made based on them. This way business performance can be optimized.
BI is now a robust platform, which is accessible and comprehensive for everyone. However, it also brings some challenges for the associated resources of a firm. Below are the three major problems faced by entrepreneurs while planning or implementing BI in business.
BI is Expensive
Business intelligence platform provides many insights and valuable information, but with a cost. Including the right software, it also consumes other expenses such as qualified individuals, IT infrastructure personnel, data science experts, and consulting analytics. Additional fees are involved in the BI incorporation. However, this challenge can be dealt by imposing technology-enhanced approaches of SSBI. The leading solutions like Self-Service BI (SSBI) provides practical solutions to the small businesses without cutting out the significant amount.
BI implementation invests enormous infrastructure costs, especially, the older BI solutions. They used to consume vast hardware resources along with long setups of warehouses and processors. The flexible SSBI has offered vital improvements where the hardware of office PCs can be employed for various data activities. Using the existing device or incorporating virtualized approach in the cloud, BI can be made cost-efficient.
BI Needs Extensive Training
Business Intelligence allows a resource to extract information that is useful for the stability and growth. The workforce involved in the process needs to be trained well to manage all the analytical work. Certifications and experience of the potential person indicate his expertise in the field of data analytics. However, also after this, companies need and perform additional training of the human resources to execute robust operations with BI. Thus, it seems like the challenge due to such other practice for data management applications.
The SSBI platforms do not need such extensive input. Insights and actionable data are extracted by these services without the involvement of data scientists. Analysis and representation of complex data are easily done here. They can collect, prepare, and analyze the complex data along with producing comprehensive reports for everyone.
Such platforms solve the need. Instead of active training instead, they give required results with an intuitive interface, which needs to understand. Becoming expert here is not essential. In contrast, having the knowledge to run SSBI interfaces is enough with a point-and-click framework for all the work.
Business Intelligence is Time-Consuming
The traditional approach and implementation of BI required significant time and resources. The deployment of particular compatible hardware, software, and their customization consume much time that builds a challenge for manipulating the daily activities. Also, this time extends when the personnel training takes place for maintaining the overall efficient performance. Thus, all the preparations can take weeks to months of time.
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On the other hand, SSBI provides a fast and active platform, which accomplish the work of entire IT department using one system in less time. Thus, SSBI not only can substitute less resource with the same output but also can eliminate the need for IT experts.
The Bottom Line
Business Intelligence is important for the present business scenario. Its extraordinary capabilities acquire a business about the insights that can be used to drive towards safe and beneficial outcomes.
However, the deployment and maintenance of BI tools are not secure and possess challenges for the business bodies. These issues must be addressed using the essential alternative like SSBI services in this emerging technology world.