Business Information – many companies approach this subject from the wrong angle, leading to a lot of wasted effort. In fact, companies spend more than 70% of time, energy and money dedicated to BI on people and process issues. The mistake a lot of companies make is buying technology with the hopes that it will apply to their business objective. Companies should start by defining the business objective(s), then the people, metrics and processes that support the objective(s).
One of the key obstacles a company faces when constructing an efficient BI system is the lack of support from senior management. Additionally, many companies approach this issue with the sole objective to fix or clean up the data. Cleaning or fixing up data is not a business objective but that is how many companies drive their business information efforts. As a result, the organization spends its time responding to tactical requirements, instead of driving business objectives.
It is important to have a team to bridge the divide between IT and business objectives. In today’s business environment most organizations are facing an information explosion but don’t have a management strategy in place.
- Get an Executive to sponsor your information management efforts. Consider the organizational structure so you are able to adapt to changing business priorities.
- Define the objectives necessary to deliver the business strategy. Don’t just get mired in cleaning up the data. Construct your plan to improve on current processes that play into achieving the objectives.
- Compare your plan with current initiatives, tools and technologies. The plan should strike a balance between strategic perspective and tactical requirements. It should be flexible enough to evolve over the next 8-10 years.
This is why:
Between now and 2012 organizations will experience a threefold increase in data, content and quality issues.