InetSoft Webinar: What Are Some of the Problems with Traditional Business Intelligence?

Below is the transcript of a Webinar hosted by InetSoft on the topic of Traditional BI vs Agile BI. The presenter is Mark Flaherty, CMO at InetSoft.

Simpler Agile Analytic Tools

Business users require simpler agile analytic tools to find insight and interact with the data. When the business user needs a report, for example, a sales manager wants to look at his top 10 performing products, he has to go to IT or an analyst. As a result, IT is swamped with requests to change reports, and business users, those sales managers, are frustrated because they have to wait for days to get their insights and make informed decisions. They wish they had the tools to easily find those insights by themselves, so they can avoid this crucial delay and act faster.

Another key challenge with traditional BI solutions is collaboration inside the organization. When it comes to discussing the data, reports, or key insights, the most common way to collaborate today is through email or the phone or an instant message. In some applications, you can collaborate on the documents, but there is no social interaction within the application, and no true social knowledge sharing. Companies are still struggling to take advantage of the thoughts floating around in their employees’ heads. They want to put them into one place where they can be searched and analyzed in the future.

All of these shortcomings have contributed to why traditional BI systems have not been able to break the glass ceiling and reach their potential with business users.

Let's talk more about agile BI.

“Flexible product with great training and support. The product has been very useful for quickly creating dashboards and data views. Support and training has always been available to us and quick to respond. - George R, Information Technology Specialist at Sonepar USA

What is Agile BI?

Agile BI is a very interesting topic which we will cover in depth today. You probably know that the concept of agile BI is one of the most talked about concepts in the world of information management these days. And of course that begs a question, why, why is everybody talking about agile BI? Well, first of all, the reason is I think is fairly intuitive is that typically the old world of business intelligence has not been tremendously agile. In other words, historically it has taken a fair amount of time to build a business intelligence solution, to build a BI application.

Certainly it takes a long time to build a data warehouse. But even today, some analysts are questioning the need for an enterprise data warehouse to do business intelligence, which just a couple of years would have been sacrilege. But things are changing. Things are changing very, very quickly. And I would see InetSoft is a leader in terms of carving out what Agile BI means. Having said that, there are more companies than I can even count using that term these days, and let's just say there are some very creative uses of the term “Agile BI”. But I think what you will get today is something that will be mostly along the lines to be relatively pure description of what that all means.

Comparing Agile Business Intelligence (BI) and Self-Service BI

Agile Business Intelligence (BI) and Self-Service BI are two distinct approaches to data analysis and decision-making within organizations. While they share common goals of empowering users with insights and driving data-driven decisions, they differ in their methodologies, processes, and target audiences. Here's a comparison of Agile BI and Self-Service BI:

1. Methodology and Approach:
   • Agile BI: Agile BI follows the principles of Agile development methodologies, emphasizing iterative, incremental, and collaborative approaches to data analysis and reporting. It focuses on delivering quick wins and adapting to changing business needs through continuous feedback and flexibility.
   • Self-Service BI: Self-Service BI empowers business users to explore and analyze data independently without relying on IT or data specialists. It emphasizes user autonomy and flexibility, allowing users to create their own reports, dashboards, and visualizations using intuitive tools and interfaces.
2. User Involvement:
   • Agile BI: Agile BI involves cross-functional teams comprising business users, analysts, and IT professionals working closely together to prioritize requirements, develop solutions, and deliver value iteratively. It encourages collaboration, transparency, and shared ownership of data initiatives.
   • Self-Service BI: Self-Service BI puts the power of data analysis directly into the hands of business users, enabling them to access, manipulate, and visualize data without extensive technical expertise. It reduces reliance on IT support and empowers users to explore data-driven insights at their own pace.
3. Speed and Flexibility:
   • Agile BI: Agile BI emphasizes speed to insights and responsiveness to changing business requirements. It enables organizations to deliver BI solutions quickly and adapt to evolving needs through short development cycles, frequent iterations, and continuous feedback loops.
   • Self-Service BI: Self-Service BI offers rapid access to data and insights, allowing users to analyze information on-demand and make informed decisions in real-time. It eliminates the delays associated with traditional BI processes, such as requesting and waiting for reports from IT departments.
4. Governance and Control:
   • Agile BI: Agile BI promotes centralized governance and control over data assets, ensuring consistency, accuracy, and compliance with regulatory requirements. It establishes clear roles, responsibilities, and processes for data management, quality assurance, and security.
   • Self-Service BI: Self-Service BI introduces decentralized governance models, empowering business users to create and share their own reports and dashboards. While it enhances agility and user autonomy, it also poses challenges related to data integrity, security, and compliance if not properly managed.
5. Skill Requirements:
   • Agile BI: Agile BI requires a blend of technical and business skills within cross-functional teams to effectively translate business needs into actionable insights. It relies on collaboration and communication among team members to bridge the gap between data analysis and business decision-making.
   • Self-Service BI: Self-Service BI caters to users with varying levels of technical proficiency, from novice to advanced. It reduces the barriers to entry for data analysis by providing user-friendly tools and interfaces that require minimal training or IT support.
6. Scope and Complexity:
   • Agile BI: Agile BI typically addresses complex and strategic business challenges that require in-depth analysis, modeling, and collaboration across multiple departments or functions. It focuses on delivering high-value solutions that drive organizational performance and competitive advantage.
   • Self-Service BI: Self-Service BI caters to ad-hoc and operational reporting needs, enabling users to explore and visualize data for day-to-day decision-making. While it may lack the sophistication of Agile BI in handling complex analyses, it offers agility and immediacy for tactical insights.