The enterprise data is the most precious asset for your organization. But, the company’s data needs to be accessible and structured for actionable insights and analysis by data analysts. Several businesses have siloed data stored in various databases, making it difficult to access relevant data. To harness the full potential of enterprise data, businesses need to take the initiative to adopt a central cloud-based data warehouse. It is the place where anyone can easily access data for Data Analytics and Business Intelligence for informed decisions and improved business operations.
Some enterprises are just being driven to the domain of Business Intelligence and Data Analytics. If the management of your company does not yet understand their value or approve because of budget, follow these five tips which will help you make a powerful case.
5 Tips for adapting Data Analytics and Business Intelligence
Remove Cost Concerns
The cost of adopting a new system is the most critical concern that your management is going to bring up. Explain to them the return on investment for BI tools and the loss your business will face of not having BI. You can also add that you will get optimal performance on-demand with cloud data warehouse and ETL tools. As a result, there will be reduced cost and in-house hardware and software support for the development and maintenance of your analytics programs.
Do Preliminary Research & Planning
For a successful pitch to your management, you need to have a firm preparation and comprehensive research. Strengthen your case with concrete evidence of the positive impacts of employing advanced data analytics and Business Intelligence. If you are planning to recommend tools for each layer of the data stack such as data warehouse, ETL, and analytics, consider the following questions:
- What features do your customers require based on their business needs?
- What data sources and destinations are compatible with the ETL tool you are using?
- What data warehouses support the BI tools you work with?
- How much manpower will be needed to implement and maintain the tools?
- What is the total cost you need to incur?
It would be best if you have a basic idea of how effectively your company can use data analytics and business intelligence using simple tools.
Customize your pitch
Make a tailor-made pitch for your managers based on their level of understanding of data analytics. Include more technical details if their knowledge of the basics is clear. If not, focus more on the advantages that your organization will enjoy in their daily work. Always anticipate potential questions or objections they could have. In this way, you will be prepared to deliver a well-thought-out response beforehand.
Most importantly, choose an optimal time and place to give the presentation based on when your managers are the most receptive and have ample time to hear your new ideas.
Highlight the Pain-point
Begin by focussing on the pain points that Business intelligence and data analytics would solve for your company. Find a critical issue that your company has been facing for a long time, and demonstrate the easier solution to address it using BI.
It can be your marketing or sales team struggling to reach out to the right people at the correct times. Explain to them how effective data analysis could determine the right customers and the best times to reach out.
Show off benefits to the company
Present the gains that each component of the data analytics stack like a data warehouse, ETL tool, and BI software is going to bring for the company. Make sure that your approach is from a company-wide perspective. You should never focus only on the benefits to one department. Make the benefits relevant to the outcomes that your company management cares about the most. You can also point out how effectively employees can use the time an ETL tool could save, for some constructive work benefitting the company.
Data warehouse
A data warehouse is the most appropriate tool to collect, organize, and analyze data coming from multiple sources. Popular Cloud data warehouses like Amazon Redshift, Google BigQuery, and Snowflake can scale computing and storage resources with appropriate latency for optimal performance. With that high performance, you will be able to replicate data into your data warehouse and perform data analysis quicker.
Another advantage of a cloud data warehouse is its ability to scale. You can directly load your raw data into your data warehouse without the preload transformations. Afterwards, define transformations in SQL and run them in the data warehouse at the required query time.
ETL
With the adoption of modern cloud-based data warehouses, ETL has become ELT, and newer ETL tools run as services in the cloud. These enable you to connect to cloud-based SaaS applications, specify a data warehouse, and start data replication on a cloud platform. Choose a SaaS ETL platform that supports all your data sources and destination without coding and maintenance; you can perform data management more efficiently.
Daton is an automated ETL tool which seamlessly extract all the relevant Data from popular data sources then consolidate and store it in the data warehouse of your choice for more effective analysis. The best part is that you can use Daton without the need for any coding experience and it is the cheapest data pipeline available in the market.
Sign up for a free trial of Daton today!
Business Intelligence
There are several benefits of BI; few of them can be faster reporting, improved operational efficiency and the ability to make informed decisions because of improved access to relevant data. BI can harness the latent power of unorganized and inaccessible data by obtaining valuable business insights from those. Data is a powerful tool for the modern business world, and competitors that have better BI than you will always be a few steps ahead.
Conclusion
Business intelligence and Data Analytics enable enterprises to make better decisions and improve operations. To persuade your management of the benefits of data analytics & BI, study the crucial benefits it can offer your company and present that information using the powerful tips mentioned above.
