{"id":43061,"date":"2019-09-13T14:24:00","date_gmt":"2019-09-13T14:24:00","guid":{"rendered":"http:\/\/sticky-highjinx.flywheelsites.com\/?p=43061"},"modified":"2025-03-03T07:45:59","modified_gmt":"2025-03-03T12:45:59","slug":"bi-investment","status":"publish","type":"post","link":"https:\/\/envistacorp.com\/en-au\/2019\/09\/13\/bi-investment\/","title":{"rendered":"Crucial Steps to Right a Failed BI Investment"},"content":{"rendered":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>\n

If your company recently made a sizeable investment into a BI and reporting solution and the outcome has left you wondering what went wrong, you aren\u2019t alone.<\/p>\n\n\n\n

Between 70 to 80 percent of business intelligence projects end in failure, according to research by analyst firm Gartner. (Source<\/a>)<\/strong><\/p>\n\n\n\n

Broken, abandoned, and under-utilized BI solutions litter the corporate landscape.<\/p>\n\n\n\n

By failing to take the time to incorporate a few crucial strategies into the BI development plan upfront, companies are experiencing back-end gaps that prevent a meaningful front-end experience for the end-user.<\/p>\n\n\n\n

Failing to Plan Leads to Planning to Fail<\/strong><\/h2>\n\n\n\n

When it comes to an effective business intelligence solution<\/a>, \u201cfailing to plan leads to planning to fail,\u201d as Benjamin Franklin wisely stated.<\/p>\n\n\n\n

With the promise of harnessing data to inform more strategic decision-making, it\u2019s no wonder companies desire to create a strong data culture within their organisations. The possibilities are limitless. But undertaking too much at once can lead to failure.<\/p>\n\n\n\n

To initiate and sustain a healthy data culture, it is important to understand the time and investment required to develop an effective BI strategy. Real-time visibility that drives change doesn\u2019t happen overnight, it\u2019s a process.<\/p>\n\n\n\t\t

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White Paper<\/div>\n\t\t\t\t
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\n\t\t\t\n\t\t\t\tHidden Treasures of Advanced Warehousing\t\t\t<\/a>\n\t\t<\/h3>\n\t\t\t\t
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Make the most of Microsoft Dynamics 365\u2019s Advanced Warehousing module and gain insight into the hidden treasures to unlock value.<\/p>\n\t\t<\/div>\n\t\t\n\t\t

see our white paper<\/a>). Undertaking a BI implementation in one fell swoop creates significant room for error.<\/p>\n\n\n\n

An effective BI strategy should be broken down into manageable phases to ensure it leads to a successful BI investment.<\/p>\n\n\n\n

Phase One: Infrastructure, Data Sources, and Knowledge Distribution<\/strong><\/h3>\n\n\n\n

During phase one, develop an infrastructure strategy, understand business processes and workflows, identify critical data sources, and distribute knowledge to key stakeholders.<\/p>\n\n\n\n

Phase Two: The Power User, the Consumer, and Connecting Additional Data Sources<\/strong><\/h3>\n\n\n\n

Phase two of the BI journey is about empowering business users and connecting any remaining critical data sources.<\/p>\n\n\n\n

Phase Three: Leverage External Data and Big Data to Shape Corporate Strategies<\/strong><\/h3>\n\n\n\n

During phase three, leveraging data becomes a competitive advantage. Start using the data to make more strategic decisions.<\/p>\n\n\n\n

Common Challenges Post-Implementation<\/strong><\/h2>\n\n\n\n

After investing significant time and resources into your BI project, you may identify with some of the common challenges that companies face post-implementation.<\/p>\n\n\n\n

Common challenges include:<\/p>\n\n\n\n