Business intelligence can help companies gain insight into past performance for future improvement, though there are potential drawbacks to using BI tools for projects.
Business intelligence (BI) tools help companies gather, analyze, and report important information. The potential benefits to using BI tools include:
Improved data quality;
Faster and better decision making;
Increased confidence; and
More reliable reporting and results.
And yet, some companies may achieve less than optimal or even dismal results from their business intelligence tools. Why? Here are three ways that business intelligence can negatively impact your project.
SEE: Project failure: 10 excuses your boss doesn’t want to hear (free PDF) (TechRepublic)
Project teams’ insufficient understanding of business intelligence tools
By using business intelligence tools, project managers can learn essential information that helps their companies gain a competitive advantage. This does rely on a team’s ability to effectively leverage business intelligence tools.