Unlocking the Value of your Business Intelligence Data
Business intelligence (BI) projects can be successful if you simultaneously enhance organizational and technological infrastructures.
Business intelligence (BI), the practice of optimizing processes and systems to leverage organizational data helps deliver the right information, to the right people at the right time. This CIO report suggests that to create the intelligence, businesses need to discover how to unlock the value of a business Intelligence system to see the benefits.
"When designed and deployed effectively BI systems can deliver real business benefits and create value through three core pathways. First, BI systems reduce the cost and complexity of processing information. Second, with appropriate infrastructure, BI provides performance insights that can enhance an organization's efficiency and effectiveness, allowing for better and faster decisions. Third, BI has the potential to engage people across the organization in the successful execution of strategy.
"New technologies and ways of working are changing the rules of the game and the way that firms compete. The ever-growing needs for reliable information, continuous market insight and the agility to react quickly are increasingly important for businesses world-wide. Recent KPMG research found that half of organizations are expecting to adopt new business models within the next three years. BI solutions are key to ensuring the success of these transformations. However, despite a combined annual global investment of around USD $60 billion in enabling BI solutions, many organizations are not seeing the expected benefits."