With the cost of BI coming down over the last five years, enterprises are starting to create bespoke internal solutions for themselves. However, the below chart depicts the feasibility of such bespoke solutions.

BI Strategy Metrics

Although bespoke solutions are great, they take months to develop. The entire purpose of having BI is lost if you must wait a few months to gather knowledge. Additionally, you will have to tailor the solution to meet the needs based on the ERP and LOB systems present in your organization and also the existing spreadsheet apps, analytical tools  etc.

Off the shelf BI apps can be deployed almost instantly. They only need to be integrated with your existing systems but they are not easily customizable and might not meet the needs of business users and expect the data to be structured in a specific way and this is usually good for a reporting solution for a point system.

In between the two is solutions developed by Service providers which have the best of both the bespoke application and product as the data models which are built are generic and can integrate data from any applications present in the organization and can be customized based on the needs og the organization. The report packs which are built are based on the knowledge they have leveraged in implementing similar solutions to various customers and the customizations required for the same without having it tied to a specific product.

If you are looking to deploy such a BI solution which gives you the best of the both the worlds to solve the Business Intelligence needs if your organization we at Acuvate offer a myriad of solutions services for BI across various verticals and horizontals , click here to know more.

Decision makers need a plethora of information at their fingertips. This information should be easily digestible.

Does the BI strategy implemented in your organization help the business users take decisions , do the reports you generate help you in making better decisions? This would be the first and most crucial question you need to ask yourself to know if you have defined and implemented a successful BI strategy.

These are the five tips you need to keep in mind before you develop a business strategy. Was this article helpful? Please share your thoughts and suggestions by commenting below.