Are you getting the most out of your data warehouse? Most companies aren't, and they're paying for it.
Okay, that might be a bit dramatic. But did you know that all companies across all industries use less than 10 percent of the data they collect? We were most likely as surprised as you when our TARGIT Lab conducted a deep market survey with this insight. That means millions of terabytes of valuable company data is hiding, covered and unused, in data warehouses around the world.
Business Intelligence users simply can't find their metadata by navigating the old fashioned and complex data storage structures. And in many cases, they just aren't comfortable enough with the technology to explore those deeper, darker crevices of their data warehouse and decide to just stick with the data they know.
This is a huge resource suck for businesses who are wasting valuable time and resources preparing data for analysis that's never utilized. Even worse, it's a massively wasted opportunity for businesses to become analytics-driven.
Don't get me wrong: the data warehouse still has its valuable place in business, and we at TARGIT always recommend companies build a shared world view to combine data sources. Without one, you risk the anarchy of pure user-driven data analytics.
But it's critical to know if you are getting the full value out of your data warehouse. Here are the key questions you need to ask yourself when figuring out if you're finding and utilizing everything you need to uncover invaluable insights in your company.
Does your Business Intelligence and Analytics solution …
1. Allow for self-service access to data?
If you're wasting time calling on the tech department every time you need a report or analysis, you're doing it wrong. That's not Business Intelligence and Analytics. That's a process that's outdated, persnickety, prone to error, and worst of all, too slow for competing in today's market. Self-service analytics means any user in any department of your company-from Finance to Marketing to the C-suite and beyond-can easily tap into the data hidden within the data warehouse and quickly and easily produce stunning business analyses at a few clicks of a mouse. Think of it as DIY BI, with company-changing results.
2. Let the user request data in natural language?
TARGIT's Intelligent Wizard is an intelligent algorithm that learns from the users' behavior and needs. Users search metadata using natural language. We believe getting access to your data should be fast and intuitive, otherwise there's a chance it'll be wasted. It's your data, after all, use it when and as you wish. Think of it as a Google search within the system for your data. Simply type in the box exactly what you're looking for and TARGIT will pull it without complex structures. No more digging in hierarchies or nested folders. The TARGIT Intelligent Wizard currently supports 19 languages.
3. Guide users to the most popular data?
The Intelligent Wizard provides multiple sorting options to help users find exactly the data they're looking for. The Popularity sorting tool displays hits in two ways: first, previously used by the user, and secondly, hits used by other users. In this way, different users are helping each other find relevant data just by exploring the data by themselves-we call this discrete collaboration.
4. Provide flexibility for those business analysts looking to dig deeper?
If users prefer to browse the data in accordance with the underlying database structure (typically cubes), they can simply drag and drop whichever metadata they want to work with to the Wizard and still take advantage of the built-in intelligence to create an analysis in seconds. Dig deeper with drill down capabilities that take you to the Nth degree of your data, uncovering the questions you might have never even thought to ask.
Ready to see it in action?
TARGIT's updated Intelligent Wizard is just one of the amazing features that comes standard with the NEW TARGIT Decision Suite 2014, available this summer. We'll be rolling out the new features and exciting updates here on the blog to start the drumroll for the big Decision Suite 2014 reveal, so stay tuned!