Organizations in today's rapidly changing digital world are facing an ongoing need for better decision-making, faster adaptability and remaining competitive as long as possible. Digital transformation is no longer simply the usage of new technologies; it is the process of converting raw data into actionable intelligence. This is where Business Intelligence (BI) Consulting may be quite helpful to a business. BI consulting connects raw data to making smart strategic decisions by giving people access to useful information.
What is Business Intelligence (BI) Consulting?
BI consulting is a specialized service that provides support in the collection, integration, analysis and visualization of data in such a way that supports informed business decisions. Business intelligence consultants work with various stakeholders to determine business objectives; identify relevant data sources; define an analytical structure and deploy BI tools (dashboards, reports, predictive models). The goal is to turn complicated data into useful information that boosts performance, productivity, and sales growth.
Business Intelligence (BI) Assessment: Laying the Groundwork
The first step to successfully using BI is to look at the business's data structure, data quality, reporting, and data analytic capabilities. This includes:
For instance: A retail chain finds through an assessment that sales and inventory data are kept in separate places, which makes it hard to make decisions quickly.
Understanding the Business Situation in BI Consulting
After finishing the assessment, the next stage is to have a complete picture of the organization and its goals. The understanding phase focuses on aligning BI initiatives with business goals. This involves:
This includes identifying and clarifying the objectives of the BI based on what the organization considers to be important to its success.
For instance: A healthcare provider identified through its business analysis that both patient indicators and resource allocation numbers would be very useful in determining how to improve service quality.
Implementation Strategies for BI‑Driven Transformation
A successful BI consulting implementation is driven by a clearly defined implementation strategy. An implementation strategy includes:
Implementation and combination of different types of BI tools with heterogeneous sources of data (i.e. data coming from many different areas)
Creation of dashboards, reports, and self-service analytics
Automating the Process of Extracting, Transforming, and Loading (ETL) Data
These strategies will ensure that business analytics solutions have scalability, reliability, and alignment with the goals of an organization.
For instance: Telecom Companies use dashboards to track their network performance in near real time, drastically reducing the amount of time it takes them to respond to network outages.
Business Intelligence Optimization: Continuous Improvement
As Digital transformation is a continuous process, so should BI Solutions remain flexible to the evolving needs of the organization? Optimization involves:
Measuring system performance and end user adoption
Continuously refining dashboards, key performance indicators (KPI) and analytical models to align with the evolving business needs
Using predictive analytics consulting to provide predictions and to perform scenario planning
Improving data management services by enforcing quality and consistency
For instance: A manufacturing company is using predictive analytics to optimize their production schedule, minimize downtime, and to improve their cost effectiveness.
Key Roles of Business Intelligence Consultants in Digital Transformation
The following are vital roles that BI consultants provide to accomplish successful digital transformation:
Strategic Advisors – Partners with organizations to align their overall data strategy with that of their business objectives.
Data Analyst and Data Modeler – Assists organizations by doing a thorough analysis of their internal business data to uncover actionable business insights.
Data Visualization Consultant and Expert – A data visualization consultant and expert provide an organization with a simple way to interpret data through visual charts and dashboards.
Advanced Analytics Consultant – Advanced analytics consultants perform advanced analytics, either predictive or prescriptive, on an organization's data.
Data Management – Provides the necessary tools to manage an organization's data efficiently and effectively through a strong data governance framework.
Change Agent – Trains teams to adopt change; develops and nurtures a data-driven culture in the organization.
For instance: A global retailer chain took advantage of BI Consulting to centralize all of its reports in one location, streamline inventory management, and create predictive demand analytics.
How UnivDatos Can Be Your Business Intelligence (BI) Consulting Partner
UnivDatos is a trusted Business Intelligence Consulting partner. UnivDatos leverages deep domain knowledge, advanced analytics capabilities, and a client-centric approach to assist organizations across industries in navigating their digital transformation journey through providing end-to-end BI Consulting Services.
UnivDatos will provide your organization with actionable insights from your data, scalable solutions based on those insights, and measurable results from your investment into digital services. Let UnivDatos assist you in making confident data-driven decisions to enable you to grow sustainably.
Get connected with us today to learn how to turn your data into decisions and your decisions into success!