Even though BI technology is readily available for companies, they still lack trained or experienced technical personnel to handle BI projects. BI initiatives initially require business analysts, KPI experts and database architects, among others. And the absence of those key people will most likely generate irrelevant information, thus, missing the desired business results.
Because a BI project involves different tools and applications that aid in the extraction and transfer of information, data storage, and data analysis, a BI project could instead create "complexity" and "interoperability"-one BI and data warehousing expert actually stressed in conversation with me recently.
With the fast-paced emergence of new BI tools and trends, business organisations lag behind and are unable to catch up.
As a result of these unresolved challenges, some BI initiatives become unsuccessful. And consequently, the lack of effective BI implementations discourages other business organisations to venture into adopting BI systems in the workplace.
Where do you see BI being most effective in the next 12-24 months?
Top executives are beginning to abandon the traditional collection, compilation and manually processing of massive volumes of data to track a single performance metric. Many are now adopting fast and efficient Web services that can easily give them a better view of critical key performance indicators.
More than ever, there is pressure at the executive level to invest in BI initiatives due to missed growth opportunities, their inability to understand and monitor daily operations, and their failure to access important information when making decisions.
Businesses that have provided their senior executives easy access to real-time BI have recorded an increase in profit earnings. Furthermore, it has helped them identify their companies' key strengths and weaknesses, aided in the formulation of better and informed business plans, and allowed them to easily monitor their KPIs.
What do you have in mind for future versions of the GSTF Business Intelligence Summit for this part of the world?
For the succeeding GSTF BI summits, we look forward to more active participation of BI practitioners and academia-essentially this has been a great start and we intend to build on from here. I am sure there will be further developments in the BI space within the next 12 months and more implementations. Hence, we expect to draw more delegates to attend and more nominations for best practices in BI initiatives. We are likely to see special tracks by verticals and more on Big Data and data science. GSTF is also a pioneer in offering training and certification programmes on Big Data, business analytics and data science.
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