Importance Of Real-Time Analytics
Data plays a critical role in today’s enterprise. Big data makes it possible to make smarter decisions faster and is empowering businesses to achieve goals. The power lies in both collecting and analyzing information as quickly and as intelligently as possible. That’s what most businesses are looking to do when they decide to implement real-time analytics for their organization. There are, however, unique challenges they must also face and overcome to reap the most benefit.
Challenges of Real-time Data
Even if all of the signs are pointing to real-time analytics as the answer, there are still company leaders and end-users themselves who must also buy-in. Not to mention the work that will need to be done in-house to ensure that accurate data and parameters are set-up for the solutions to work effectively. Then there’s also the costs and internal changes like new reporting styles to adjust to. All of these present challenges that make some businesses wary about taking the plunge. However, with some advance planning and strategy, it doesn’t have to be daunting at all.
Tips to Overcome Real-time Obstacles
Getting everyone to understand the significance of timely data and acting on it quickly is important. Take time to explain to end-users and decisions makers all of the ways real-time data and business intelligence reporting and tools stand to bring benefit to the company. A better understanding will more easily lead to acceptance and usage of the new offering. Once everyone is on board, adjustments to internal processes, understanding the new reporting capabilities and training on how to best utilize the tools will ensure a smooth transition.
Working with VLink, one client was able to move away from time-consuming and ineffective legacy excel spreadsheets to a new powerful solution that not only delivers on all fronts, but that can also be enhanced based on feedback from users.
Through consolidation and a move onto the Birst BI tool, data is now processed automatically and reports and dashboards are updated on an ad-hoc or scheduled basis providing actionable insights faster.
Making informed business decisions is critical in today’s highly competitive marketplace. Businesses that want to survive must innovate and leverage the power of data to do so.
Get in touch with VLink today. Our information management capabilities can help your organization transform data into actionable insights so you can make critical decisions with confidence.