bi-business-intelligence

BI (Business Intelligence) is the process of leveraging the power of raw business data to enable businesses to make the right decisions. The transformation of raw data into actionable intelligence is done using a set of processes, architectures, and technologies – collectively called BI solutions. Because these are IT tasks, most businesses around the world partner with reliable BI Solution companies to handle and manage their business data.

Since there are countless firms out there offering all kinds of BI services, the task of selecting a reliable and compatible firm isn’t easy for businesses. However, the following tips would prove handy for businesses in their attempt to locate the right BI partner.

Experience

Jobs like handling and analysis of data are best carried out by experienced specialists. Domain expertise is a critical factor that most clients consider while choosing their software partners. Before deciding on any vendor, the client should request a demo, preferably at its location and verify the past and present client lists of the vendor. Another benefit of hiring an expert vendor is that it would suggest the right solutions and features to the client as per the budget and requirement.

Costs

The BI Solutions company should be able to suggest efficient ways of cost-savings to the client. Because BI solutions are usually a big-budget affair, getting the services at a reasonable price is important for the client. And it should be noted that a company charging a smaller amount than the standard market rates for the services doesn’t necessarily mean it will do an inferior quality job.

Adequate Resources

The BI Solutions Company should have all the required accreditations to serve their clients. It should possess enough manpower and equipment to carry out the tasks uninterrupted. A thorough verification should be done by the client to ascertain the capabilities of the vendor that it is planning to partner with.

Data Security

The BI Solutions Company should assume the responsibility of data management and security on behalf of its client and ensure that no unintended data sharing takes place. To this end, the outsourcing company should have expertise in data management, storage, retrieval, and analytics to assist the client with intelligent data-based recommendations.

Industry knowledge

Data is used by almost every organization across industries like manufacturing, retail, logistics, IT, etc. Partnering with a company that has extensive experience of working in the same field as the client is a big bonus as the vendor would be aware of the most critical factors that have a bearing on the business.

Unhindered communication

The vendor should maintain regular contact with the client and keep it posted on the project progress. Honest communication in business partnerships isn’t just desirable but an absolute necessity for the success of the project. So vendors that are reluctant to share critical and relevant business data with the client should be steered clear of.

Since no business can survive without intelligent use of data, BI Solutions, by default, is an important part of the workflow. The high importance of BI Solutions also mandates it for businesses to delegate the work to a reputed BI Solutions company and the above-listed points would help them in their search for one.