Three Secrets of Business Intelligence You Should Know

Business data in itself does not deliver stellar success. Even the most proficient business data analyst could not produce enough data to guarantee that a client would succeed in their aims. Business intelligence is one of the numerous useful tools which enterprises should use as they compete in the digital era.

One of the leading business data analysts and consultants in the south of England is Chris Scanlon. With over 25 years in blue chip industries and 15 years in owner managed businesses, he is a qualified chartered accountant who works independently and with Thames Valley Business Advisors. Primarily, he helps SME’s with their business data analysis and consulting requirements. He has never seen a perfect piece of software, use of data or database to pull information from.

So, what does this mean for business data analysts and business intelligence?

Below, Chris Scanlon reveals the three secrets which should answer this question for you.

Secret number 1: Spreadsheets are still king.

Company A uses customised business intelligence software which is manufactured by a vendor that specialises in business data analysis. Company B has a different approach, they use freelance business intelligence services. However, both companies are heavily dependent on spreadsheets.

Almost every business intelligence software product is designed to find data, extract it and dump it into a spreadsheet so that it can be used by the people who need work with it.  We understand spreadsheets, they’re familiar and are undoubtedly excellent tools to connect data across numerous points, create running formulas and to sort data in to the order we want it.

Secret number 2: Software is inconsistent.

Company A has one of the best business intelligence software packages available on the market. Three of its competitors use the same software. All four notice inconsistent results.

The big secret here? All business intelligence software is intrinsically inconsistent, it cannot be expected to anticipate every possible occurrence and need. Moreover, developers must remain generalised in their solutions to reach the widest audience. This means there are gaps, and these provide the frustrating inconsistencies.

Secret number 3: The cloud makes life more difficult.

The cloud offers businesses many benefits, especially in SaaS – software as a service – space, in which a vast amount of business intelligence can be found. However, it creates difficulties for data retrieval and analysis.

The trend towards cloud computing means that the data is no longer restricted to local networks. Intelligence must be accessed across the cloud and then consolidated prior to use. The more locations which are used to harvest the data, the more exacting the process becomes.

Business intelligence is not perfect but it can be an invaluable tool when approached and utlised correctly.

To learn more about business intelligence, analysis and how Chris Scanlon can assist your company then please contact him. He has a wealth of experience and knowledge and he will be an asset in your business data processes.

Get the most from your business intelligence and prosper.