Build Vs. Buy: What’s The Best Business Intelligence Solution?

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Build Vs. Buy: What’s The Best Business Intelligence Solution?
Build Vs. Buy: What’s The Best Business Intelligence Solution?

Business
Intelligence Platform – Should You Build Or Buy?

Businesses and business leaders
are no longer asking whether they need business intelligence (BI). They already
know they need to be able to analyze all their data effectively and efficiently
to make better business decisions, stay competitive, and continue to grow
within their markets.
So the real question is, what’s
the best tool to help a business get there? Should a company develop its own
in-house platform from scratch, or is it better to purchase a leading business intelligence software?

Factors
To Consider

If there were a single answer
that ultimately settled the debate for every individual business situation and
scenario, then this would be one of the shortest blogs ever!
As it stands, there are a few
reasons why an organization might want to build its business intelligence
solution just as there are many benefits to choosing an already-established BI
platform. Some companies opt to develop their BI tools to meet their customized
business goals. Others prefer to go with a proven third-party solution that’s
fully functional “out of the box,” and has already had all the development kinks
worked out.
But again, which is the right
option for your business? If you’re facing the same dilemma, read through our
recommendations below before making a final call.

Evaluate
The Time, Resources, And Cost Required For Each Option

  • Build-Your-Own
    Bi

Does your business have the time,
money, and resources needed to be able to build a BI platform from scratch?
That would require you to have a reliable internal IT team that possesses
advanced technical skills, for starters.
Can your team develop a system
that’s complex enough to dig down into every area of data within your business,
yet also user-friendly enough to be utilized by everyone from the CEO to the
sales representative, customer service agent, or inventory stock associate? Is
your team well equipped to handle the maintenance of such a system, and address
any unforeseen problems that may arise? And is your company prepared to absorb
the ongoing fixed costs that go along with hosting a platform like this?
Build Vs. Buy: What’s The Best Business Intelligence Solution?
Build Vs. Buy: What’s The Best Business Intelligence Solution?
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If you’re intent on developing
you’re a best-in-class platform yourself, there are certainly some benefits
that canto go along with that. Just make sure that you’re in a position to not
only to build your platform but to be ab, but le to sustain it as well.

While development may be a
one-time activity, maintenance and upgrade of the system is an ongoing task.
This would require constant investment of time, people, and money. It may also
be a distractor from your core business objective.

  • Buy
    Business Intelligence Software

What about purchasing an existing
third-party business intelligence and analytics platform? One instant advantage
of choosing an already-established data analytics software solution is the fact
that it will save you all that research and development time. , and should help
eliminate many of the concerns of needed staffing and equipment. The cost of
ownership and maintenance is also considerably less, as compared to developing
a solution in-house. Then if you were to manage that in-house, as well.

Build Vs. Buy: What’s The Best Business Intelligence Solution?
Build Vs. Buy: What’s The Best Business Intelligence Solution?

At the same time, not all BI
software solutions in the market carry all the same functionalities that your
business may require. Some may have limitations on the number of customization
options and expandability, for example. It’s also important to do your homework
and make sure you’re doing business with a provider that has a proven track
record of delivering the results their clients seek.

A Good
Business Intelligence Platform Needs To Be Capable, Customizable, And Scalable

Whatever BI platform you choose
(whether you build it or buy it) must be capable; in other words, it needs to
be able to do what you need it to do! Some features that make a BI platform
truly capable include the following:
  • Ability to function as a
    stand-alone system, as well as the possibility for embedding into other
    applications
  • Powerful enough to derive
    meaningful insights from the various sets of data that drive your business
  • Ability to perform predictive
    analytics
  • Robust reporting and sharing
    capabilities
  • Versatile dashboard customization
    options
  • The easy-to-navigate user
    interface, including drag-and-drop functionality
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Then there’s the question of
scale. It’s not just about being able to scale up to accommodate growth in
numbers; it’s also about the ability to scale to diverse communities, user
types, and deployment models within your organization.
Is the BI platform meant to be
used solely as an on-premise, stand-alone program, or does it also need to have
the ability to integrate with the cloud or other hybrid systems? Would you
benefit from having BI tools that can be embedded into native applications,
especially those that users in your organization are already leveraging
regularly?

Why
Partnering With The Right Third-Party Bi Software Vendor Makes Sense

The reality is that there’s just
a lot involved for a company to be able to build its analytics solution from
scratch, much less host it, maintain it, integrate it with other in-house systems,
and sustain it over time.

Build Vs. Buy: What’s The Best Business Intelligence Solution?
Build Vs. Buy: What’s The Best Business Intelligence Solution?

While there are some advantages
to being able to build a custom platform from the ground up, there are many
liabilities that come with this option, as well. A smarter choice for most
businesses is to partner with a BI software provider to provide a
full-developed, already-functional turnkey solution.
Such a provider should include a
dedicated team of specialized developers and analysts that can help you
integrate with your other pre-existing solutions and tap into all of your
identified data sources. A capable provider should also come with its customer
service and training departments, to help ensure smooth adaptation for your
enterprise, and to be there for you when you need help along the way.

Author
Bio:

Intellicus is a provider of
business intelligence systems that meet the needs of businesses just like
yours. They provide enterprise BI, embedded BI, and cloud BI solutions, and
they also offer full embedded analytics capabilities to work within your existing
products and applications. If you’re ready to learn more, reach out to the
capable team at Intellicus today!

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