When it comes to making investment in new IT solutions, leading organisations are often searching for solutions that will have far-reaching implications for their operations. Often, the product itself will simply be the gateway into an ongoing business function, one that needs regular attention and a significant time and financial commitment.
Business intelligence (BI) is often referred to as a tool, and while that’s an accurate description, like most tools its effectiveness depends on the abilities of the people who wield them. While big data analysis is designed to be as intuitive and user-friendly as possible, having a highly skilled and experienced person at the helm can maximise the value.
For an increasing number of companies, outsourcing their BI is proving to be a much more effective and affordable option. Deloitte’s 2016 Global Outsourcing Survey notes that 72 per cent of organisations currently outsource some of their IT for myriad reasons – from cost cutting and enabling focus on core business operations to driving broader digital transformation.
The case for BI outsourcing
There’s no denying the need for BI tools in the modern enterprise. Gartner estimates worldwide revenue in the BI and analytics market will reach almost US$17 billion in 2016, and organisations are having to adjust internal processes to capitalise on the technology.
“To get the full benefit of modern BI and analytics platforms, leaders must rethink most aspects of their current IT-centric, centralised analytics deployments, including technology, roles and responsibilities, organisational models, governance processes and leadership,” says Ian Bertram, managing vice president at Gartner.
The issue for many companies is that this type of fundamental restructuring requires investment. Not every organisation has the resources to create new BI analytics roles, for example. Rather than employing their own data specialist, often the best solution is outsourcing part of their BI functions.
Instant access to expertise
BI tools have been around in some capacity for many years, however the incremental rate at which modern solutions have been adopted has resulted in a dearth of experienced data professionals. ICT, Electronics and Telecommunications roles have a seemingly permanent place on Immigration New Zealand’s Long Term Skills Shortage List, suggesting the situation for employers is unlikely to improve any time soon.
While some businesses may be fully capable of managing their analytics on their own, the ability to reach out for the support of dedicated BI consultants can reduce failure rates and provide an extra layer of peace of mind. Highly skilled teams are available who immerse themselves in BI, with knowledge of the stumbling blocks where some organisations struggle – and how to avoid them.
Stellar Consulting not only provides the tools of effective BI strategy, but the technical know-how to implement them in New Zealand businesses.