Written by GoodData Author |
If you owned a gas station and a family brought in a car for repairs—would you send them into your garage bay unsupervised to try and fix their car themselves? No, you’d hire a mechanic to provide your customers with the solution they expect.
When it comes to the world of business intelligence, it may surprise you how many companies try the first approach. They willingly take time and effort away from their core competencies to “try” to deliver BI solutions using the do-it-yourself route—only to all too quickly discover they are nowhere near equipped to deliver the robust, scalable, high-performance BI solution their customers expect. It’s only then that they turn to the experts.
Focus on your Core Competencies
In a recent Nucleus Research survey, one company who chose to go with an OEM business intelligence solution rather than create their own explained their decision clearly:
“Simply put, we are not BI experts. We don’t have the expertise to build the user interfaces, the data consolidation, nor the query processing engines required to provide the BI capabilities, scalability and performance our clients would expect.”
- How turning away from DIY analytics increases engagement rates:
Before outsourcing an embedded analytics solution, one BI customer who tried the DIY approach commented, “We provided reports to our clients, but had less than a 30% engagement rate.” After partnering with BI experts to supply a scalable Business Intelligence solution, the same company says:
“Our engagement rate has jumped to 80%, as our clients have a more robust and self-service environment.”
Additionally, the company was able to re-allocate their own talents and time to better serve their customers. “Our BI vendor focuses on performance and scalability, while our analysts are focused on delivering insight instead of report building. It did not make good business sense to distract ourselves from our core competency.”
Be Real about Required Development Efforts
In the same Nucleus Research survey, some DIY business intelligence customers were so early to the SaaS market, that BI solutions were simply not yet available to meet their needs. So for them, it made sense to roll out simple reports and provide support—in the early days, that is.
As time went on, they quickly realized they were unable to keep up with client requests. They were dedicating too much time and money to “keeping the lights on” while their customers’ appetite for insights steadily increased.
- How DIY analytics can cost you both time and money:
One BI customer who had implemented BI via a DIY approach explained the evolution, “Customers were starting to ask for features and capabilities they had in other BI solutions to be built into ours. Our internally built solution was no longer meeting the needs of our clients, and was becoming a resource and financial drain on our company.”
“We tried to build it ourselves. We ran into problems delivering the scale, speed, and performance demanded by our clients.”
Another company surveyed by Nucleus Research said, “We didn’t have the expertise to know what reasonable requests of a BI solution were. We were incurring significant development costs to construct and support an environment that we were unable to recoup.”
What kind of costs are they talking about? “We spent a year and close to half a million dollars trying to build our own solution,” explained one of the companies. “We realized that to provide a robust, reliable and scalable solution that would be visually appealing and easy for our clients to use, we’d have to buy instead of build.”
Avoid having to make these costly discoveries; learn from others forays, and look into partnering with an analytics ally up front. With GoodData, businesses are able to:
- Meet customer requests to integrate additional data sources
- Provide personalized, extensible dashboards
- Create benchmark comparisons for each customer against the aggregate base
- Deliver advanced analytics and insight into investments to make strategic decisions
If you’re not a BI developer, it makes sense to focus on what you do best and partner with an analytics ally—like the BI experts at GoodData— to more easily and quickly fuel employees and customers with the data insight they need to make more informed business decisions.
Written by GoodData Author |