This is Part 1 of a video series where Birst’s, Richard Neale discuss Networked BI and the advantages it can gain your organisation.
Most major organisations understand the need to leverage their data for competitiveness and have historically made significant investments in this area. Gartner’s annual global survey of CIOs shows that in 2015, analytics and BI was ranked as the #1 investment priority. Similarly, 10 years ago, business intelligence was also ranked as the most important global priority.
This is both good and bad news. The good news is that organisations understand that BI is a critical capability. The bad news is that, despite heavy investment, BI has not yet been adequately solved. We believe the reason is that these investments have not solved the problem of data and BI silos.
Data silos lead to a lack of current and consistent information for making decisions. Getting additional data is slow and may require IT support leading to backlog and frustration. Different users may be pointing different tools such as dashboards, discovery tools or excel at different subsets of data and getting different answers to the same questions, ruining data-driven decision-making across the business.
Birst has the industry’s most innovative approach to this problem which we call Networked BI. Networked BI is the concept of enabling a single networked view of data, then letting different users use the tool that they prefer to access this “shared fabric” of analytically ready data. Networked BI connects to existing data sources “in place”, removing the need to have multiple fragmented replicas of data floating around the organisation. Eliminating these data fragments is needed to achieve speed, user autonomy and self-service.
With Networked BI, decentralised teams and individual users can augment this shared analytical fabric with their own local data without compromising the centralised governance of the data. Think of it as an organically grown network of insights that everyone can trust.