Strategic Application of Software Process Model to Optimize Business Intelligence Results

Organizations across various sectors such as banking, automotive, energy and utilities or any other industry are strongly dependent on the analytics platform to arrive on their business decisions. Analytics has evolved as a major area and has been significantly helping organizations from years to get profitable business results. Organizations are now employing Business Intelligence tools and techniques to analyze their large complex volumes of data. Even though analytic tools and techniques are employed still many organizations are failing to come up with the right business decisions. This is because either they do not have the proper process model or they do not use a systematic process model for decision making. According to Gartner, on average sixty percent of the organizations are still not able to make fruitful decisions due to various factors like, data quality issues, lack of careful consideration of components involved, skill shortage to name a few. In this paper, we consider the software process, which is one of the key factors and show how a software process model may be applied to Business Intelligence process by defining the entire BI process as a two stage software component process model which internally involves other components. For this purpose, we have defined two software process component models for the entire BI process. We also emphasize all the key considerations that need to be followed to achieve successful BI results. We throw light on how the sequential iteration phase can be applied at each component level. This model serves as a prototype for the future BI projects which can benefit organizations and top decision makers in making quality decisions.