BI and Tech

Should you buy business intelligence software or build your own?

Buy Panintelligence BI dashboard or build your own

Business intelligence software has proven invaluable to companies across a wide range of industries. Some questions businesses should ask themselves before adopting a Business Intelligence application are:

Should I buy an existing BI solution or build one from scratch? 

What are the issues with developing my own Business Intelligence solution?

Here are some issues they come across 

The BI product will have its own development cycle

save time when you buy bi dashboard

Companies often lack specific business intelligence experience and will be unaware of common pitfalls and how best to overcome them which inevitably leads to development being more difficult and therefore longer.

Development will cost a lot more than buying the software

cost of business intelligence - buy vs build

Ten years ago the number of business intelligence solutions was few in number and the cost was significant, making it prohibitive for the SME market.

Cost was a big factor in the buy vs. build debate. Now many applications are available to suit all budgets.

The first version of the product will soon be out of date

long time to build bi software

Requirements will change over time and you will have to dedicate resources to updating the software to keep it useful and relevant for users.

Outsourcing the work to a vendor purely focused on embedded BI means you always get the latest innovations to share with your customers.

Your company lacks in-house BI expertise

bi expertise

Bringing information from multiple databases, as well as information from the cloud, into one reporting dashboard is very important. This requires another level of specialised knowledge that few companies innately have in-house.

If you choose to buy in your business intelligence software, you need buy-in from your own development team. It's essential to work with an accessible partner who can keep your teams informed and involved.

Will the dashboard software deliver a good mobile experience?

The growth in mobile access, via tablet and smartphones, means the dashboard solution must be accessible from anywhere at any time. It also needs to be secure to protect your data. Having a mobile enabled software solution is no longer a nice to have but a necessity. 

Which will you choose?

These are just a few of the issues associated with creating a BI dashboard in-house that must be taken into consideration.

Some top reasons to buy BI from a specialist partner include:

  1. Lower initial investment and total cost of ownership.
  2. Less technical expertise required to maintain it.
  3. In-house teams learn about the BI
  4. More internal resource is available for your core software product
  5. You have a shorter time to market

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