Problem: One of the key reasons for many failed BI projects is the inability to constantly morph the solution as the business and the market do, creating a gap between the business and where the solution resides.
Solution: Be mindful that analytics are only as good as the data that comes in and if they’re not fresh, the results will be off. Stay on your toes. The user should strive to be able to quickly morph their analytics parameters as needed by the business. They need to be kept constantly up-to-date with the latest internal and external data.
An introduction of a new packaging size for your drug, a promotion by your competitor, a new oncology specialist in your territory, a new payer contract ... any change in the business landscape influences the market. You ought to take it ALL into account to perform a meaningful analysis that will actually drive the business and affect the bottom line.
The challenge of Big Data and manual analytical methodologies grows. With Big Data enterprise adoption rates growing year over year, companies face the daunting task of integrating and making sense of all this new information. Millions of tracked statistics, figures, and reports are coming in every week. These are a few of the many obstacles that stand in the way of harnessing the value of enterprise data.
For companies that look for real business value by analyzing this data, Verixhas identified five tips to help you through this process.