Business intelligence (BI) teams have become increasingly important in mid-to-large organizations over the past decade. BI teams are responsible for analyzing data to help make better business decisions. As such, they need to be highly successful for organizations to achieve their goals.
Importance of BI Teams in an Organization
In order to make decisions, organizations need to be able to understand and analyze data. BI teams are responsible for doing just that. They examine data to find trends and patterns, and then they provide recommendations to executives based on their findings.
In a study by Gartner Inc. that surveyed over 1,500 organizations worldwide, it is estimated that 25-35% of executives polled were actively increasing their investment in business intelligence.
Additionally, according to a survey from Information Management Magazine, 43% of organizations have added BI roles since 2010, while 40% expect to do so in 12-18 months. The increasing importance of BI teams means that data has become essential for running a business successfully.
What Makes a Successful BI Team?
Many factors contribute to the success of a BI team. However, five common traits are often found in the most successful ones.
1. Structure and governance
A successful BI team has a clear structure and governance in place. The team has defined roles and responsibilities, and everyone knows what is expected of them.
2. Proven methodology
A successful BI team has a proven methodology for analyzing data and making recommendations. This methodology is based on best practices and is constantly updated as needed. This also involved tried-and-tested business intelligence software and keeping up-to-date with that software’s latest and greatest capabilities.
3. Skilled team members
A successful BI team consists of skilled team members who know how to do their jobs. Not only do they understand their roles and responsibilities, but they also have the necessary training, experience, and knowledge about business intelligence tools.
4. Collaboration
A successful BI team always collaborates with others inside and outside the organization. They share their findings with other teams in order to get a broader perspective, and they work with outside experts to achieve the best quality of data and results based on it.
5. Leadership
A successful BI team has a strong leader – often known as Team Lead, Senior Consultant, or Lead Consultant – who sets the vision and direction for the team and provides guidance when needed. The leader also ensures that the team follows the methodology and stays on track.
In order to be successful, teams should strive to have all five of these traits. By doing so, they can provide the valuable data solutions and recommendations that executives need to make informed decisions.
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