There are benefits at the end of the article

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On December 10th, Fansoft Business Intelligence Innovation Practice Summit was held in Beijing as scheduled. Fansoft Data Application Research Institute released business intelligence (BI) White paper 1.0 at the summit.

Combined with literature materials, enterprise research and China’s market environment, the white paper gives a detailed introduction to the concept, value, functional technology and tools of BI. According to the cognition and actual situation of Chinese enterprises, the definition of BI tools is reorganized, and the BI ecosystem is described from an ecological perspective. It emphasizes the organic unity of technology platform, operation rules and people, in order to provide enterprises with more scientific REFERENCE for BI construction, make data output sustainable value and become the real productivity of enterprises.

The current era is the era of information explosion, data has become a new factor of production, its value is increasingly prominent. As data producers and consumers, enterprises need to think about how to use the data generated in the process of production and operation to feed back production and operation. The need for data-driven decision making is constantly pushing enterprises to look for new ways of information construction and digital transformation, and business intelligence provides a perfect idea.

It has been more than 20 years since the advent of business intelligence, favored and sought after by the majority of enterprises, fruitful. Although many enterprises do not specifically emphasize the concept of BUSINESS intelligence, the widespread application of business intelligence has become an established fact. The scale of business intelligence market is growing rapidly, and the domestic market is growing faster than the global market.

According to Gartner’s Market Share: Analytics and Business Intelligence, Worldwide, 2018 report, the Business Intelligence software Market grew 11.7% in 2018 to $21.6 billion. Modern BI platforms continued to grow the fastest at 23.3%, followed by data science platforms at 19.0%. According to the 2019 China Big Data BI Industry Forecast Report released by Fansoft Data Application Research Institute, the growth rate of the domestic BI market reached 25.8% in 2018, higher than that of the global market. The process of enterprise digital transformation has entered the stage of business intelligence.

As for domestic users’ demands for business intelligence, the survey in the white paper shows that the data value that domestic enterprises most expect to gain when applying BI products is data integration, data display efficiency, and management decision-making assistance.

72.8% of the surveyed enterprises most want to obtain data value is to integrate multi-system data, break through multi-system data, solve the problem of data barriers, and achieve information transparency. 69.1% of enterprises want to improve the output efficiency of statements, expecting to be faster, more accurate and more convenient. 53.7% of enterprises hope to make scientific and data-based decisions through data analysis to assist enterprise decision-making.

For BI functions, enterprises pay more attention to report ability, mobile terminal, filling in and managing the cockpit.

More than half of the enterprises attach great importance to routine report making and presentation and mobile BI functions.

Nearly half of the enterprises expect to use data filling to solve the problem of internal data collection and input, and data filling is also an effective way to solve the data scattered in Excel and Word.

For machine learning, natural language recognition, artificial intelligence and other functions of BI in the future, enterprises are not interested, only 10% of enterprises show concern. These features are more at the conceptual level and are still in the hype period, with few actual usage scenarios.

As for the value of business intelligence, the value of BI lies in meeting the needs of different groups of enterprises for data query, analysis and exploration, and helping enterprises to achieve business monitoring, business insight, business optimization, decision optimization and even data profit.

The premise of business monitoring, insight, optimization and decision optimization is unified and accurate data. The online BI system will greatly promote the unification of enterprise data standards and solve problems such as data islands. Otherwise, BI will lose its ability of business monitoring and insight and cannot empower enterprise operation and management.

Specifically, BI value is embodied in four aspects: supporting management decisions, improving management level, improving business operation efficiency and improving and optimizing business. The white paper lists many practical cases of enterprises.

As for THE BI project, many business intelligence (BI) systems, which cost a huge amount of money and took more than a year to build, were abandoned. As for the successful construction of BI, the white paper concludes that the successful application of BI system faces four challenges:

  • Training of data talents
  • Data integration and governance
  • Coordination with management and business units
  • And the capabilities of the IT department itself

More than 50% of enterprises are troubled by these four problems. In addition, the challenges of measuring the value output of data analysis, the importance of the company or the budget input also accounted for a large proportion, accounting for more than 40% each. In addition, 13.95% of surveyed enterprises believe that project risk control is also an obstacle to BI value output, and poor risk control will bring great losses to enterprises.

Therefore, the success of BI project and the continuous generation of satisfactory value depend not only on the technical element of BI system, but also on the current corporate culture, management system, the quality and ability of IT and data departments, and the communication and cooperation between IT departments and business departments, namely the output of data value. With the company environment, with people, with information platform are closely related. The existence and relationship of these key elements, just like nature, is a whole and unified system.

Therefore, ecological thinking is introduced in the white paper and BI ecosystem is proposed. It is believed that when constructing and operating BI system, enterprises should stand on the level of the whole ecosystem and synthesize various elements to construct BI ecosystem.

BI system, the system culture, coordination and communication, process coordination, technical ability and other key factors that influence the output of data value constitute an inseparable, orderly, connected and integrated whole full of vitality. By building this cohesive organic whole, data value can be produced efficiently and sustainably.

BI has become an indispensable part of the refined operation of enterprises, and its value is needless to say. Chinese enterprises should continue to strengthen the data base, refuse to blindly pursue intelligence, and steadily carry out BI system construction and digital transformation according to the practical needs of enterprises.

Centering on the concept of BI ecosystem, the improvement of operation rules and the improvement and cooperation of employees’ abilities will be the key actions of the majority of enterprises in the next stage. Fortunately, Chinese enterprises have clearly recognized this point. I believe that with the help of BI ecosystem, Chinese enterprises will have a smoother road of digitization and the level of informatization will be greatly improved.

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