Practice

CIO Strategies: Five best practice tips for implementing business intelligence

Martin Draper, technology director at luxury retailer Liberty, says his big priority for 2017 is business intelligence. The firm gathers information from various sources and Draper wants to create a data-driven strategy that helps executives at the firm make smarter decisions quickly and effectively.

He joined the world-famous retailer in March last year, having completed a 13-year IT leadership stint at Harrods. Throughout his career, Draper has been eager to drive transformation through information. He spent a decade running his own business intelligence (BI) consultancy before becoming a retail CIO, helping organisations in all sectors turn data into insight.

Here, Draper draws on his experience and provides five best practice tips for running a successful BI imitative.

1. View your initiative as a pervasive cultural approach

Analysts are keen to talk up the continued investment in BI and analytics. Gartner says 48 percent of companies invested in big data in

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Best practice tips for business intelligence success

There is no doubt that companies understand the importance of business intelligence (BI) to supporting the efficient and effective running of the organisation.

Continued economic uncertainty and major industry-changing dynamics like mobility and the shift to digital business put a premium on data and information. Whether it’s optimising processes, improving customer service, increasing the accuracy of marketing initiatives, breaking into new markets, or seeking ways to get ahead of the competition, firms recognise that getting the right data to the right person at the right time is a key prerequisite to business success.

However, recognising the importance of data and analytics is one thing. Actually putting in place the processes and tools required to deliver data and analytics in the most efficient and appropriate way to meet the needs of business decision-makers is a different matter:

The majority of organisations continue to struggle to get the desired value out of

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