Companies all around the globe invest billions of dollars in business intelligence.
According to the International Data Group (IDG) prediction, 69% of the businesses are planning or implementing data-driven projects in order to enhance production and sales, better decision making, strategic planning of business, and others.
The global BI software market is expected to grow at a CAGR of 19.1% through 2022.
These stats paint a great picture. But here is the thing – Imagine investing in a car that no one is driving. Heart-breaking, right!
It has been the same with BI investments. Investment is not leading up to expected Returns. Counterintuitively, it’s nowhere close to expected returns. The reason being low usage of BI software in organizations.
Statistically, actual BI adoption across the globe is less than 35%. Some surveys suggest even lesser adoption rates.
That means more than 65 businesses out of 100 are not utilizing the BI tools that they invest in. More of an expense than value.
Organizations are still making decisions in silos without the backing of relevant data.
Probable causes –
- Lack of integration with third-party databases
- BI is an IT thing. in double-quotes. For anyone else to be able to adapt and drive BI, high levels of training are required.
- Complex customization
- Irrelevant reporting
- Time intensive process
While in many aspects the pandemic pulled us several steps back, in certain respects like digitalization of workplaces and processes, it did push us into taking a huge leap.
Covid19 led us into a remotely connected work culture. As the world resorted to working from home, virtual collaboration tools like MS Teams kept the show running.
Speaking of collaboration tools, MS Teams has been the fastest growing business app out there. With more than 200% surge in daily active users. And the numbers are going to grow higher and higher with time, as remote work culture is not going anywhere. According to a report by Deloitte – “Remote work will likely be much more common post-pandemic than pre-pandemic.”
This lays down a unique opportunity to drive BI adoption and rise data analytics maturity levels in the organization. As workplace collaboration tools like MS Teams and Slack get high traction, businesses can channelize and disseminate data analytics through these systems.
But the overarching problem remains – ‘How’!
As many of our consumers faced this business problem, we built a solution to address all BI adoption gaps in organizations, across levels.
Beagle, a product of Decision Point, is a personal virtual analyst for data and analytics needs.
Simple + Powerful is how we define Beagle.
It checks all the boxes –
- Connect and compile all data sources at one location. So, one doesn’t need to sift through scores of databases to get to the point
- Gives information in form of cards – small snippets of data with insights. So, one doesn’t get stuck in the mesh of irrelevant data
- No training required. It’s like a genie. You just have to ask and it will generate reports instantly. You don’t need to be trained to be able to talk to this genie.
- Allows easy data sharing. Like Facebook for data. We call it narrative boards. This lets you save or share data updates with concerned team members within a few clicks
It gives you data in the formats you understand, in lesser time than it takes to cook 2-minutes noodles.
But it does more than that.
It lives inside workplace collaboration tools like MS Teams and Slack.
It integrates with the collaboration tool that your company uses and works within them. So, everyone – right from a frontliner to C-Suite leader can speak to data within the platform. No need to toggle between different apps or depend on someone else to guide one through it.
- No coding skills needed to iterate complex reports.
- No dependency on external vendors for report access and customization
- No dependency on data experts to analyse and understand data
Data in hands of everyone (especially the ones) who need it. Beagle was created with data democratization at the heart of its discovery.
Beagle is a New-Age Business Intelligence tool that enables individuals and teams to converse with data and collaborate on analytics. All on MS Teams.
Connect (with data). Beagle connects data sources like dashboards, Excel etc. with collaboration tools such as MS Teams and Slack.
Collaborate (with stakeholders). It resides in the collaboration tools. So anyone across the value chain can chat with it as if speaking to a colleague.
Create (innovative and time-sensitive solutions). By sharing insights in understandable formats, it helps people focus on solving bigger community problems and build innovative solutions.
To sum it up, as companies already have or most likely to have workplace collaboration tools in their systems, a solution that integrates data sources to these tools would contribute to enhance BI adoption score.
If you want to know more about this solution, reach out to us.