Looking for Business Intelligence ROI? A next-generation approach to “ease of use” may hold the answer. Neil Raden shared his perspective on the topic as the keynote speaker for New York Tri-State Chapter of the Data Warehousing Institute. The event was organized by Jon Deutsch and the board of directors of the TDWI Chapter. TDWI board member Jaime Fitzgerald assisted with event design & curation. Mr Fitzgerald is also the founder of the Analytics and Data in Financial Services Meetup group in New York City, a group that works in tandem with the TDWI chapter to promote local data and analytics events.
For decades, Business Intelligence has been seen as both an essential and sometimes disappointing area of technology investment. Billions of dollars have been invested in presenting insights to business managers, but frequently the ROI has been soft and difficult to measure.Neil Raden has long been concerned about the fact that usage rates for large-sale BI systems has “stalled at 10 to 20 percent of users, depending on which survey you believe.”
Of course BI will survive, but Raden says “we may not recognize it ... the need to analyze and use data will not go away, but BI will be part of a 'decision management continuum' incorporating predictive modeling, machine learning, natural language processing, business rules, traditional BI, visualization, and collaboration capabilities.”
Neil addressed the following questions and more:
∎ Why do many Business Intelligence implementations fail to achieve their potential?
∎ Will a broader definition of the concept enable better results?
∎ How can you optimize BI systems when you are not in complete control?
∎ What best practices and case studies are most instructive?
Neil Raden is CEO and Principle Analyst at Hired Brains Research. He is a long-time practitioner, well-known author and consultant focused on data warehousing, Business Intelligence, analytics, big data, and decision sciences. He is the author of "Smart (Enough) Systems,” together with James Taylor. This book focuses on decision automation for optimizing practical business decisions. A favorite topic for Mr. Raden has been how to integrate strategy, planning, management and execution as the tools to achieve optimum decision making.