9 most common #BusinessIntelligence misconceptions

Gartner recently predicted that Business Intelligence (BI) and Analytics will remain a top focus for CIOs through 2017. 
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The only problem: Many businesses still don’t quite understand BI. 
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1. BI doesn’t have value -- “I believe the biggest misconception of BI by CEO’s is the belief that it doesn’t have value,” says Steve Cross, CEO of Infinite Synergy.  / #GrowIncome  
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2. BI is only for (fill in the blank) organizations with (fill in the blank) -- “Every organization can embrace effective BI targets regardless of size, budgets or tenure,” explains Sara Handel, Business Intelligence Services Lead at Excella Consulting. 
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3. Measuring data = successful BI -- “True BI uses data, collected from different sources and analyzed in different ways, to make informed decisions over time. If you are just running the same report and looking at the same numbers but aren’t actually using that information to make decisions or alter your strategies, then you aren’t doing BI.” -- Sara Handel / #DecisionMaking  
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4. BI = reports and dashboards -- "Despite the fact that reports and dashboards are standard tools of a classical BI, they do not define the value by themselves” says Sergii Shelpuk, Data Science Group Director, SoftServe. “BI is a solution for delivering the right information to the right people at the right time." / #Dashboards  
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5. More data = better BI -- “This is flat out wrong,” says Anita Andrews, VP, Client Analytics Services at RJMetrics. “The larger community is so quantity obsessed (of course it’s fun for some to solve the computational and processing problems associated with massive data sets), but it’s actually the case that if you can double your revenue with one column of data, you’d do it in a heartbeat.” / #BigData  
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6. All BI tools are the same -- "Organizations set themselves up for failure when they solely buy into the hype of a BI tool. The best tool for your team just may be the underdog,” says Takashi Binns, Senior Manager, Solutions Delivery at arcplan. / #SelfService  
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7. We need ‘big data’ for BI to be meaningful -- "Your company may not even have – and may never have a need for – big data. Business leaders can glean insight into business operations by performing various analytic techniques on their regular data to improve business processes, efficiency and profitability.” -  Takashi Binns / #SaveMoney  
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8. Business intelligence is an IT job -- “Historically, running queries and generating reports for the business team were back-office activities assigned to the IT department,” says Binns. “With little communication between these two groups, obtaining valuable information was hit or miss." / #InformationTechnology  
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9. BI Software = BI Strategy -- "While the BI software should provide timely information to support decisions, these decisions are ultimately made by humans. In addition to software, a successful BI implementation must include systematic changes to an organization’s culture, making them more data-driven. Strong cultures are identified through strong patterns of accountability which encourage and reward data-driven decision making,” says James Ficarra & Adam Rene, Senior Project Managers & Engineers at ExcelAutomationHelp.com. / #Collaobration   #HumanResources  

Posted by +Dan Durrant 

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