Business analytics is not just about facts, figures, and crunching numbers. It can make a big difference to the corporate culture of a midsize enterprise, and it can shift the decision-making process away from gut feelings so that decisions rely on true business intelligence.
Many companies work in a setting where information is kept in separate areas. Important data might be found within specific departments or project groups, but others may have a hard time accessing it. Some companies also face challenges in retrieving and using data. In addition to shifting company culture, a business analytics system can help address this issue.
Configuring an Analytics Solution
One of the first tasks for IT administrators when setting up this system is to talk with employees across the company about their job roles and the data they produce. This helps figure out how to fit this information into a larger business intelligence system. This step is crucial for making sure that information and knowledge are more accessible. It’s also important to learn what kind of reports users need so that IT administrators can confirm the selected business analytics system can provide them.
With this information, they can install and configure a suitable solution and educate users about how to get the best from the system. One of the big advantages of modern business intelligence systems is that people can combine and extract data in a number of ways and can create a number of customized dashboards. This allows automatic data collection and a certain level of reporting, which means that everyone within the enterprise has access to certain basic information about how the business is doing.
Cultural Change
How does using such a system affect corporate culture? Over time, the sustained use of analytics data makes it easy for employees to see where their piece of the puzzle fits into the big picture. This helps them feel more engaged with the company and enhances possibilities for cross-team collaboration. A collegial culture of shared knowledge stands in major contrast to the hierarchical structures that exist in many businesses. With the current trend for social and collaborative working, this can’t be ignored.
In addition, the use of business analytics helps people throughout the organization get comfortable with using data to improve business processes and business strategy. People can become more open to doing different types of analysis and finding new ways to do business, which enhances innovation and creativity. Project teams can use predictive analytics to try out different scenarios without risk, which enables them find the most useful strategic direction for the company. Even after implementing the system, IT administrators have an important role to play in helping to tweak the analytical capabilities of the system and maintaining the security of business data.
In summary, as research from IBM shows, companies that make the best use of analytics have a more open and collaborative culture and are more creative, more innovative, deliver better customer service, and are therefore more profitable. Those are great reasons to use business analytics.