7 Ways an Enterprise Portal can Drive ROI from your BI
There are many reasons we invest in business intelligence (BI). The possibilities of what can be achieved if your company harnessed all the information and analytics available are endless. With access to the right information, you can analyze areas of opportunity before strategizing success – but you can’t do this without the analytics.
To succeed with your business intelligence strategy, you must implement the right decision-making tools in the right way. But since there isn’t one tool out there that does everything for everyone, how can you ensure that as time moves on and technology advances, the return on investment (ROI) that you signed up for pre-purchase, is still possible?
Fast-Moving Analytics Market
One of the fastest evolving areas is your Business Intelligence/Analytics landscape, so it’s inevitable that over the years, your organization will have changed. It might have started with Enterprise Reporting (IBM Cognos, MicroStrategy, SAP Business Objects, etc) which served a purpose, but fell short on agility. Self-service tools such as Tableau, Qlik Sense, and Microsoft PowerBI then started to dominate the market, and according to Gartner, we’re now entering a new shift in Analytics technology: ‘Augmented Analytics’ (ThoughtSpot, Tellius for example).
Fast forward to 2021, analytics is no longer just living inside of traditional BI tools, they are living inside of everything; social media apps like LinkedIn, Facebook and Twitter, Content Management Systems (for example, Microsoft SharePoint and Google G-Suite), and sales applications like Salesforce, Zoho and Hub spot.
So where does this leave you?
You have all these tools driving your decision-making, but there’s no single place where you can pull it all together. It’s fragmented across the board.
- Users have multiple logins to multiple different analytics and BI systems as well as other CMS and 3rd party application ‘portals’
- Reporting and information assets are spread out across ALL of these different systems
- Users can’t quickly find the information they need meaning duplicate assets are created, adding further to the BI backlog
- Frustration takes over and faith in your significant Analytics investment is lost impacting adoption
- Users are not using the data and analytics to make informed decisions
Overall the ROI on your BI is not what you expected and they aren’t delivering on their full potential.
Write off or innovate?
Investing in the right BI doesn’t come cheap, so you are not able to write them off and replace them, but these time consuming and in-efficient processes listed above are effectively killing your BI ROI dream, making it essential for your business to look at alternative and innovative solutions.
Enter “Enterprise Portals”.
An Enterprise Portal is a single, unified digital presence that provides users with access to their applications and portals from a single-entry point. It is a self-service, personalized and fully searchable environment where users can view and interact with all relevant applications, portals and bring analytics assets from different systems together in a single experience.
There are many benefits to using an enterprise portal. For the purposes of this article though, we’ll focus on one in particular: driving ROI from your BI investment.
Here are 7 ways an Enterprise Portal can drive ROI from your Business Intelligence:
- Centralized, simplified, and integrated environment: Centralizing and integrating all the various BI systems in an organization into a single environment is a key element when considering Business Intelligence solutions. This simplifies access for users and stabilizes control for IT.
- Enterprise-wide access via consistent and modern user interface: Provide users with access to all legacy, new and innovative reporting and analytics solutions from a single point, with no learning curve and minimal fuss. Users going through an enterprise portal don’t need to think about which analytics or BI system to use, just what information they need to do their jobs.
- Simple analytics and business intelligence strategy creation: Once you have your users within an Enterprise Portal, it will be easier for them to leverage and create custom ‘storyboards’ by re-purpose existing information assets from all your BI tools, including charts, graphs, presentations and dashboards. Because the portal is a central location for all users in your organization, your BI strategy can be more effective.
- Better collaboration and workflow: Having a central location for all users in your organization, will also improve collaboration between teams. It is an enterprise-wide platform, meaning all teams can collaborate in one location and share insights easily with one another.
- Personalized end-user experience driving productivity: With an enterprise portal, you’re able to offer every user a quick and simple way of accessing what they need, when they need it. You can also personalize the content each user sees when they login, recommending reports (machine learning), dashboards and other content depending on role, preferences, and history, enhancing productivity, making users more efficient in their roles. This ultimately helps ease BI pain points for users and helps adoption rates. (Creating a ‘Netflix’ Style Analytics Experience)
- Flexible and future-proofed analytics and business intelligence solutions: BI and analytics is constantly developing, and you may find yourself in a position where you have to retire old and bring in new systems for your users to leverage the latest BI advancements. Now you can seamlessly migrate, upgrade and swap in/out technologies without impacting the business and users saving you both time and money.
7 . Better focus on information for data-driven decision making: With an enterprise portal you can empower your organization to make insights more effective through data storytelling. By removing the barriers of access to analytics, applying contextual information to reports and dashboards, and collaborating on a wider scale, you’re able to generate organizational excitement about using data for decision making.
The Ultimate Intelligent Enterprise Portal Solution
A recent 451 Research Group found that “Enterprise portals have been adopted more widely by businesses of all sizes and across all verticals than other technologies in the information management space.”