The Main Challenge for Business Intelligence in Enterprises
This is the continuation of the transcript of a Webinar hosted by InetSoft on the topic of "Improving Corporate Performance Management." The speaker is Abhishek Gupta, product manager at InetSoft.
So I think that’s the main challenge for business intelligence in enterprises today. We are moving in the right direction, but again really just to reiterate we need to actually get a better handle on data, understand who is using what, and who needs it, and getting through that kind of really contextual standpoint where technology is relevant for an individual rather than it’s kind of a one-size-fits-all model.
And if we are able to adjust to that place with actual good data, then we can actually start using some of the existing tools or aggregators to better plug into that and actually make that data actionable, because there is a lot of manual collection that goes on or separate dashboards being used today.
So for example, there you are with your iPhone, your iPad, and all of that data is somehow pouring onto your mobile device. It’s all there for you, and it’s organized in a very cohesive way for you to take action on it. Is that something I see in the very near future? How might it affect your role and responsibilities as a CFO if indeed we get to that point?
I do think that will happen in the future, and we have started to do it. We are by no means perfect in migrating into user-specific dashboards. Getting the data across different disciplines across your organization for that specific user so they have the information that is important to them, that is the goal. You can harken back to the same objective of where are we going and what’s the information that’s going to help me in marketing?
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What’s theinformation that’s going to help me?
What’s the information that’s going to help me in IT or me in Operations, or me in Finance? It’s so critical. I believe that we will migrate towards near real-time reporting as a big differentiator between companies, not only companies that we compete with, but in the restaurant space and certainly companies globally.
And there will be a need for the paper-based report, and I joke all the time I can’t get my board to even accept a PDF on an iPad for a board book. I still get a mail on all these board books. But I do think in the future you will have that. You will have all the information at your fingertips, and the key is getting the information you need.
Part of the challenge is, and we are just a medium-sized restaurant company, there is so much information out there. You could create 50 dashboards. You could create thousands of reports. It’s really about picking the information that’s most important for you at that time, so that you don’t get bogged down in the data.
You are actually getting information that’s meaningful in real time because otherwise you will just get lost in that. The harmonization of all of the data for role-specific use is a key. We have reporting. We have this database, as I mentioned. We have a lot of information, and we set up dashboards mostly between Finance and Operations so far.
Operations has their key dashboards that they can actually view on their tablets, or they can view them on a computer, or whatever, wherever they are and have key performance indicators of the information that’s important for them in their specific location. Or if there is a multiunit, operations manager can look at information across six to eight restaurants.
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And then for me as CFO, I have a user-specific dashboard that has information that’s very meaningful for me. As soon as the information is pulled in, and that could be within an hour, or that could be the next day, or that could be for a week at a time. So it’s really going to be about not getting bogged down in the data. The challenge again goes back to the separate systems.
The primary challenge for business intelligence (BI) in enterprises today is integrating and managing diverse, complex data sources to deliver actionable, real-time insights. Enterprises often face issues with data silos, legacy systems, and varied data formats, which complicate seamless data integration and accessibility. This challenge is further intensified by demands for scalability, high data quality, and widespread user adoption across the organization.
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Data Silos and Fragmentation
Data stored in isolated systems, such as CRMs, ERPs, or departmental databases, creates silos that prevent a unified view. This fragmentation leads to incomplete insights and delays in decision-making. Breaking down these silos requires robust integration tools and governance strategies.
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Legacy Systems
Outdated legacy systems often lack compatibility with modern BI tools, making data extraction and analysis difficult. Upgrading or replacing these systems is costly and time-consuming. Enterprises need solutions that bridge old and new technologies effectively.
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Data Quality and Consistency
Inconsistent or poor-quality data, such as duplicates or inaccuracies, undermines BI reliability. Ensuring clean, standardized data across sources is critical for accurate reporting. This requires ongoing data governance and cleansing processes.
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Scalability and Real-Time Processing
As data volumes grow, BI systems must scale to handle large datasets while providing real-time insights. Many enterprises struggle with slow processing or outdated infrastructure. Cloud-based BI solutions and advanced analytics platforms are often needed to address this.
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User Adoption and Skill Gaps
Even with advanced BI tools, low user adoption due to complex interfaces or lack of training can limit impact. Employees need intuitive platforms and adequate training to leverage BI effectively. Simplifying user experiences and fostering a data-driven culture are essential.
Addressing these challenges requires a strategic approach, including adopting modern BI platforms like InetSoft’s Style Intelligence, which supports seamless data integration and user-friendly dashboards. Investing in cloud infrastructure, data governance frameworks, and employee training can further mitigate these issues. By overcoming these hurdles, enterprises can unlock the full potential of BI for informed decision-making.
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