Business intelligence provides businesses the opportunity to analyze massive amounts of data in relatively simple formats. The obvious goal when companies deploy a business intelligence solution is to achieve a high ROI by streamlining business processes through the analysis of the presented data. Unfortunately many organizations may be missing out on their ROI by failing to follow through with the decision making processes that should follow the analysis of the data.
Collaborative decision making software may help bridge the gap by keeping the data analytics and the decision making process linked. With CDM software multiple people in the organization will have the ability to collaborate on the displayed data and converse about the interpretation of it. CDM will avoid the scenario where a colleague calls a meeting and presents his findings to a group of decision makers. Rather than isolated analysis of the data, group interaction will occur which has the potential to generate more ideas and creative ways to take action based on the displayed results of the data. In addition, this type of interactive collaboration makes it possible to pull in other parties, who might add valuable insight, nearly instantly.
CDM software is also self-documenting. There will be no need to take notes and write documents (this hardly ever happens anyway) that record the results of a meeting or discussion. All parties involved in the decision making process will be held accountable and this will avoid the scenario that may occur after a decision is made…”Why did we decide to do that again?”
CDM software is rapidly growing in popularity and is now often included as a standard feature in a business intelligence solution package. When choosing your BI software be sure to consider if CDM platform will add value to your organization. If you already have your BI solution in place it may be a good idea to ask if there is an add-on solution for BI collaboration.