Business Intelligence
Completion requirements
Explore this article to understand the definitions and common functions of BI technologies, which include reporting, online analytical processing (OLAP), analytics, data mining, process mining, complex event processing, business performance management, benchmarking, text mining, predictive analytics, and prescriptive analytics.
Prioritization of projects
It can be difficult to provide a positive business case for business intelligence initiatives, and often the projects must be prioritized through strategic initiatives. BI projects can attain higher prioritization within the organization if managers consider the following:
- As described by Kimball, the BI manager must determine the tangible benefits such as eliminated cost of producing legacy reports.
- Data access for the entire organization must be enforced. In this way, even a small benefit, such as a few minutes saved, makes a difference when multiplied by the number of employees in the entire organization.
- As described by Ross, Weil & Roberson for Enterprise Architecture, managers should also consider letting the BI project be driven by other business initiatives with excellent business cases. To support this approach, the organization must have enterprise architects who can identify suitable business projects.
- Using a structured and quantitative methodology to create defensible prioritization in line with the actual needs of the organization, such as a weighted decision matrix.