Enabling Decision Making Through Business Intelligence

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Enabling Decision Making Through Business Intelligence

Report Code: IN-6310

Date: 11/2008

By: Info-Tech Research Group (ITRG)

Business Intelligence (BI) is a set of processes and technologies that provides consistent, accurate data and analytical tools to meet strategic and operational objectives.

The value of BI lies in its ability to manipulate data for the purpose of answering business questions in a timely fashion. Although larger organizations are the biggest consumers of BI products, demand is growing in small to medium sized business (SMEs) to secure a competitive edge.

Organizations that have already implemented BI have realized both substantial and immediate strategic and efficiency benefits.

This Info-Tech Impact report study will:

Explain the concept of BI
Describe its key business and technology drivers
Detail the specific benefits and challenges realized in actual implementations
Provide guidance on how to progress with planning and implementation
Offer recommendations on how to mitigate challenges and realize operational success

The included BI Success Estimation Tool will help you determine what to do next and how to do it.

BI improves business decision making by facilitating all aspects of enterprise data and information. Every enterprise should explore how BI can help expand strategic planning and operating capabilities.

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75 page research report in PowerPoint format plus interactive tool in Excel format

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Abstract: Business Intelligence (BI) is a set of processes and technologies that provides consistent, accurate data and analytical tools to meet strategic and operational objectives. The value of BI lies in its ability to manipulate data for the purpose of accurately answering business questions in a timely fashion. BI is constantly evolving and as enterprises mature and grow, so does the need to integrate critical business processes and gather intelligent and consistent information.

Organizations that have implemented BI cite the following key benefits:

Ease of information access
Deeper insight into data
Increased employee productivity
Improved customer service
Improved accuracy of predictions
Improved decision making

Issues around data were found to be a primary focus in every step of a BI project. Data quality came up as a major driver of the project’s implementation, then as a common theme behind each of the benefits, and finally as an indication of overall success with BI. Organizations who found the most success with BI typically instituted a formal data quality team.

Complete with a decision-making tool and detailed case studies, this report will:

Explain the concept of Business Intelligence
Describe its key business and technology drivers and the adoption rates of key functionalities
Detail the specific benefits and challenges realized in actual implementations
Provide guidance on how to progress with planning and implementation
Offer recommendations as to how to mitigate challenges and realize operational success.

Today's business decision-making is increasingly dependent on Business Intelligence systems. Use this report to learn and apply best practices in designing, deploying, and managing a BI system effectively.

Business Intelligence Success Estimation Tool included

This interactive Excel tool gives organizations the opportunity to apply the findings of the BI report to their own unique needs and characteristics. By answering a short questionnaire, the tool will indicate an organization’s overall fit with BI, as well as any expected benefits and challenges stemming from an implementation.

Research Method

This Impact report study was based on the information from 201 different organizations. 161 respondents completed a comprehensive survey and 40 engaged in a detailed interview process. All company sizes, major industry segments, revenue brackets and BI statuses were represented. Eleven percent of the participating organizations had between 1 and 100 employees while 13% had over 5,000.