Business Intelligence Strategy and Transformation
Many CIOs are fully aware that their staff spends more time managing the status quo, gathering and reporting on data, instead of performing valuable analysis of that information.
Business intelligence (BI) technologies have been around for nearly two decades. Functional business managers and BI leaders continue to search for ways to trim costs and deliver more value from their BI investments. That's a tall order. Frequently, the cost to maintain legacy BI systems is growing at a rate faster than overall IT budgets.
As market dynamics evolve, end users may need to improve operational efficiencies, increase visibility across the organization, augment regulatory compliance or enhance customer intimacy. As a result, business units often create islands of information outside of the control of IT. Too frequently, organizations discover that the return on investment (ROI) of the BI implementations has fallen far short of the original projections.
This is all happening at a time when the awareness of information's true value has grown, adding to the tension between IT and business units. With an increasing array of data sources - structured, unstructured, internal and external to the organization, business managers are forced to embrace a broadening range of information assets to exploit new growth opportunities, efficiencies, differentiation and innovation. The result has added a new dimension to the BI issues.
Effective coordination between end-users, BI and IT stakeholders is necessary to ensure that BI implementations achieve or exceed desired enterprise objectives and benefits. A well run, agile and effective BI strategy gives business sponsors the confidence needed to make new investments in big data initiatives.
Investing in BI is a necessary prerequisite
No company can afford to ignore the looming impact of the big data revolution. Market research firm IDC expects big data technology and services to grow at a rate seven times the growth rate in the information and communication technologies market overall, from a scant $6 million in 2011 to more than $23 billion by 2016. That kind of growth isn't being driven by companies investing to reduce fees or risks. It's being made by those who recognize that big data can deliver exactly what today's business environment requires - real and persistent change.
That change begins with your BI capability. A foundational service that is agile, accurate and cost effective should be the first order of business. Indeed, industry research shows that an estimated half of current spending is for streamlining and modernizing existing BI solutions.
How would an improved BI strategy benefit your company?
Companies from a wide range of industries, including yours, face similar challenges and opportunities.
- One of the world's largest investment banks faced a rising tide of information, with data flowing in at increasing rates. The institution needed to know what information was current, where overlaps were occurring and which information was best used in key investment decisions.
- Business information at a large communication equipment company was found to be flawed, resulting in no confidence in the information or insights drawn from it. Profiling and assessment of the company's aspirations led to a centralized reporting solution that draws a "single version of the truth," with clear and accurate reports for the board and self-service generation that reduces expense.
How would your company benefit if your BI environment were fully aligned with your business objectives, flexible enough to keep up with change, ready to help you respond to your changing enterprise needs and operating environment, and if the right person got the right information at the right time, every time? An effective, aligned business intelligence capability is the key to realizing these benefits.
Build a better BI capability
Preparing for more flexibility and future growth in your BI capability includes modernizing your BI software and infrastructure. It also relies on change management to prepare the organization to make the best use of the new level of strategy and insight your BI function can provide.
A long history of successful BI Transformation initiatives
CSC Business Intelligence Transformation service can help your company revitalize your existing capability to achieve the blend of function, agility and cost required to support your business operation. Our long history of success in the global design, development and on-going support of BI Transformation makes CSC uniquely positioned to support your company's BI transformation. Our BI Transformation solution provides several key benefits:
- Right information, Right Time, Right People - ensures that business-users can optimize business performance, improve operational efficiencies and increase visibility across the organization to make better strategic and prompt operational decisions.
- An array of innovative business-led and technologically advanced, information delivery-platforms - for reporting, dashboards, data and mobile visualizations to improve your company's decision-making.
- Pre-built BI-specific Assets - accelerates implementation while ensuring alignment with objectives and end-users needs.
- Has a componentized, scalable and standardized approach to fully support cross-functional business requirements.
- Uses technologically advanced options based on proven reference architectures.
- An iterative approach that engages business users and end-users early in the design process of reports, dashboards and mobile layouts to ensure alignment of organizational benefits and ROI.
- Changes the business, not just IT - Our approach transforms IT and business units in tandem with the aim to form an ongoing partnership between IT and its users.
With a well-oiled BI capability in place, your company will have the foundation and the resources it needs to fully embrace the big data revolution. We can also manage and deliver your organizations ongoing BI requirements through CSC Business Intelligence-as-a-Service. Contact us today to learn more.