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Myth or Truth? All your data must be in one place to analyze it and get the answers you need

April 26, 2022
All your data must be in one place.

Organizations must be able to connect to numerous data sources and query and blend a growing amount of data. But it’s getting harder and harder to keep up with all that data.

According to a recent IDG survey, companies draw from an average of 400 different data sources to feed their BI and analytics. Many widely accepted beliefs about business intelligence and analytics suggest that the only way to deal with these volumes of data is to bring them all together in one place. Only then can you prepare your data so it can be analyzed with your business intelligence tools.

It’s not surprising that people believe this is the only way to do analytics. After all, typical BI tools do require data to be brought into a single standardized format, and cloud data warehouse solutions are the widely chosen path to accomplish this. But is there a better way? As data volumes grow exponentially and you must keep up with near-constant demands to prepare data for analytics consumption, are we buying into a myth?

The truth is… you can leave your data where it is

Our latest guide, Mythbusting Business Intelligence vs. Decision Intelligence, reveals the truth of the matter. All of your data does NOT need to be in one place to analyze it.

While there will always be a role for data warehouses featuring highly curated data, volumes are growing exponentially. It is becoming difficult — if not impossible — to keep up with the near-constant requirement to prepare the data for analytics consumption. For your organization to truly get the most out of its data, regardless of how complex your environment is, leave the data where it is and bring your analytics platform to your data instead. To achieve this, look for a platform that can directly query the data, no matter where it is.

A new way: Decision intelligence

At Pyramid Analytics, we’ve set out to dispel the myths about analytics and business intelligence holding people back and failing to deliver value in today’s world. We’ve watched organizations continue to invest in multiple fragmented tools requiring specialized technical skills that only worsen things. And we believe it boils down to several myths or widely accepted “truths” born from the limitations of today’s BI tools. These myths aren’t wrong as they are outdated because there is a better way.

Gartner defines decision intelligence as “a practical approach to improving organizational decision making,” which “models each decision as a set of processes, using intelligence and analytics to inform, learn from, and refine decisions.”

Decision intelligence enables data and analytics leaders to empower any person in their organization — from the C-suite to the front-line and everyone in between — with the insights they need to make faster, more informed decisions, even if they don’t have a technical background in analytics or data science.

We invite you to read our Mythbusting Business Intelligence vs. Decision Intelligence guidebook to learn more about this and many other widely held beliefs about data and analytics today. We break down the myths into categories related to data, people, and analytics and show you how, with a new approach, you can move past these limiting beliefs to take your analytics to the next level through decision intelligence. Get instant access to the Mythbusting guide here (no registration required).

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