There are a lot of reasons why BI platforms can come up short. Sometimes there are budgetary constraints, other times there’s not enough data available for a business process, and every now and then, no matter what you do, you just can’t get buy-in from the people at the top. As frustrating as all of these can be, they are still eclipsed by maybe the biggest enemy of insight– procrastination. Waiting to build a BI platform can have devastating consequences now and in the future.
One consequence oddly enough is the cost. A common concern for delaying building a BI infrastructure is the price tag. And while the costs to build a platform may seem significant, future costs will only be higher. Perhaps even costlier when you consider that future insight is also lost. Delaying BI because of cost means your BI platform will be even more expensive in the future. You can be sure that the longer you wait, the more costly your insight will be.
Another consequence is losing ground to the competition. If you are considering BI, your competitors are also considering BI and probably more than considering it. Delaying now only gives your competitors the opportunity to get ahead of the curve and you. In today’s fierce marketplace letting the competition navigate by insight while you “go with your gut”, will not only get you beat but get you beat badly.
A final consequence I want to cover is that of missing out on the change that occurs in a company with a data-driven culture. A culture where employees utilize data and insights for decision-making. Where data is valued and shared company-wide. Where systems and ideas are implemented from the beginning with the data in mind. It changes everything. When insights and being data-driven are valued company-wide, good things happen
Whatever your reason for delaying your BI platform, doing so only compounds the issue. Whether it’s costs, lack of resources, or time, if you start now you will avoid regret later. At ConradBI, we can help you navigate this process and show you how it doesn’t have to have such a heavy price tag. Don’t put it off any longer – give us a call today.
