Although BI tools have been around for almost three decades, most companies just scratch the surface of what’s possible to do with those tools. Using web layers and APIs, a company can use their imagination to customize and leverage their exiting BI tool-set to monetize data, integrate tribal knowledge and build industry-specific proprietary products. 

Matthew Schwartz is the chief technology officer of Sage Hospitality, one of the world's largest hotel operators. Although Matt is responsible for all aspects of Sage’s IT operations, he has a deep fondness for data and analytics, having served as a BI director for several companies, including PetSmart and Staples. Matt firmly believes in the power of BI tools to transform organizations.

Key Takeaways:

• BI can be used creatively to address non-data application needs using web layers and APIs.

• Matthew Schwartz and his team leveraged their existing BI tool to create an icon-based page/report that helps the organization access docs/standard operating procedures related to each department.

• Organizations can evaluate their existing BI tool-set and research how it can be used to solve problems in the company without investing in new tools/resources.

• Matthew Schwartz helped Sage Hospitality set-up a notification system for on-boarding new employees in the organization. 

• A BI tool can be used to send a query-based weekly email report containing relevant alerts. It would help the leaders stay focused on their core job functions instead of following-up on emails.

• Modern BI tools save time and effort by using visualizations instead of drill-downs. 

• Integrating tribal knowledge in your BI tool helps the report user find permanent fixes for recurring problems.

• Companies that use BI tools as a decision capturing log can see what worked and what didn't. The data can be analyzed with AI and can be trained to make recommendations over time.

• Industry-specific and institutional knowledge help in customizing the BI tool to respond to real-world scenarios.

• A company should try to choose the minimum number of BI tools that can help in building strategic differentiators.