Over the years, I have heard some of the craziest stuff about BI. Things like “Excel will be a thing of the past by 2005”. Microsoft Excel is still the number one BI tool. So it seemed like a good time to debunk some BI myths I hear these days.
- Cubes are complicated/confusing to use.False :What? Cubes are the easiest data model to use ever! This is often a seed planet by vendors who don’t have the luxury of offering their customer cubes. Why are cubes easy? All your data is ready and at your fingertips in one place. You don’t have to hunt for the right table and join that to another table and hope you have the good info. Cubes are automatically very fast too. There are no tuning reports that use data cubes – they autotune.
- Business Intelligence is an IT thingFalse: Most of CALUMO’s customers are Finance teams and Analysts. CALUMO is a Business Intelligence too. Some BI products are IT centric and require programming, but those ancient tools sadly are still being sold. Current BI software requires no programming, and any user can find data in moments and turn that data into a beautiful report.
- You can’t have a great single BI and budgeting and forecasting tool False: BI can stand on its own without budgeting, forecasting and planning. It’s not essential. But there are tools like CALUMO that are excellent BI tools as well as planning tools. Reporting and planning don’t have to be separate tools at all. So you can have your cake and eat it too (BI + budgeting and forecasting).
- BI is IT resource heavy, and I have to wait for ITTrue and False: Yeah, it’s a bit of both. Some products require loads of IT and technical support to connect to data sources, build databases that you can get data from and also create the reports. Those tools are no fun and not very useful for the non-IT employee. Then there are products like CALUMO that needs a little up front IT help to get you going, and that’s where it ends. There is no reason to call on IT again. (Yes, they will miss you :))
- BI Saves moneyTrue: BI should MAKE you money otherwise, why are you even thinking about BI? Make sure you're not buying a BI tool for emotional reasons only. Do a cost-benefit analysis first.
If you have questions or statements you've heard about BI and planning, ask me, and I will see if I can debunk some more myths!