www. impact research 1 enabling decision making through business intelligence: preview of report
DESCRIPTION
Impact Research 3 Business Intelligence represents a significant opportunity for the entire organization Business Intelligence (BI) is a set of processes and technologies which 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 enterprises (SMEs) to secure a competitive edge. Organizations that have already implemented BI have realized both substantial and immediate strategic and efficiency benefits. This report on Business Intelligence will: 1. Explain the concept of Business Intelligence. 2. Describe its key business and technology drivers and the adoption rates of key functionalities. 3. Detail the specific benefits and challenges realized in actual implementations. 4. Provide guidance on how to progress with planning and implementation. 5. Offer recommendations as to how to mitigate challenges and realize operational success. BI improves business decision making by facilitating all aspects of enterprise data and information. Enterprises should explore how BI can help expand strategic planning and operating capabilities. Executive SummaryTRANSCRIPT
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Enabling Decision Making Through Business Intelligence:
Preview of Report
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Introduction to the Summary Report
Table of Contents for “Enabling Decision Making Through Business Intelligence”:1. Executive Summary2. Research Methodology3. What is Business Intelligence?4. BI Adoption Drivers5. Benefits of BI6. BI Success7. Plan8. Implement9. Operate10. Key Conclusions11. Case Studies 12. Glossary of BI Functionalities
This summary report contains sample slides from the full Impact Research Report, “Enabling Decision Making Through Business Intelligence.” The actual report contains 75 slides and provides full analysis and best practices for BI, as illustrated in the table of contents below.
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Business Intelligence represents a significant opportunity for the entire organization Business Intelligence (BI) is a set of processes and technologies which 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 enterprises (SMEs) to secure a competitive edge. Organizations that have already implemented BI have realized both substantial and
immediate strategic and efficiency benefits.
This report on Business Intelligence will:
1. Explain the concept of Business Intelligence.2. Describe its key business and technology drivers and the adoption rates of key functionalities.3. Detail the specific benefits and challenges realized in actual implementations. 4. Provide guidance on how to progress with planning and implementation.5. Offer recommendations as to how to mitigate challenges and realize operational success.
BI improves business decision making by facilitating all aspects of enterprise data and information. Enterprises should explore how BI can help expand strategic planning and operating
capabilities.
Executive Summary
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Research Method
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Research Method
► The Impact report study is based on the information collected from 201 different organizations.
► 161 IT 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.
Research Method
Organizations by Size
251-500(16%)
501-1000(18%)
1001-5000(28%)
5001+(13%)
1-100(11%)
101-250(14%)
BI StatusNo plans
(16%)
Evaluated. Did not deploy(1%)
Planning(14%)
Piloting(6%)
Implementing(11%)
Upgrading(14%)
Deployed(38%)
Organizations by Industry
Education(3%)
Primary Industry(5%)
Wholesale/Retail(7%)
Government(11%)
Financial Services(10%)
Trans/Utilities/ Comms(13%)
Healthcare(14%)
BusinessServices(16%)
Manufacturing(21%)
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What is Business Intelligence?
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Business Intelligence (BI) is a set of processes and technologies BI as a process is the consolidation, analysis, and application of business data to assist
business decision making and yield genuine business value (e.g. by providing strategic insight).
BI as a software application consists of a variety of tools that facilitate BI processes by providing better data, more efficiently, to business decision makers (e.g. automated analysis and reporting; real-time snapshots of business performance; analytics).
What is Business Intelligence?
BI Process
BI ApplicationFunctionality
Business Decision Making
Data Collection
· Data Warehousing· Data Consolidation
),...,( 21 nxxxfy
Analysis
· Business Activity Monitoring
· Business Performance Management
· Analytical Processing· Forecasting/Prediction· Data Mining· What-If Analysis
Reporting
· Ad Hoc Query/Reporting
· Scheduled Reporting· Information
Visualization· Dashboarding
$
For definitions of functionalities, see the glossary of terms at the end of this document.
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BI Adoption Drivers
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Resolve data issues to maximize the chance for success with BI
BI Adoption Drivers
BI Implementation Drivers - Business and Technology
16%
24%
38%
25%
47%
40%
32%
41%
47%
65%
44%
53%
55%
39%
0% 20% 40% 60% 80% 100%
Regulatory compliance
Increased competitive advantage
Better executive decision making
Faster process/reporting cycle time
Data consistency
Data integration and/or centralization
Better insight into operations
Signif icant Influence Influence
Data is utilized in every aspect of the business. It plays an integral role in each of the other business objectives.
Only with quality data can BI offer organizations better operational insight and strategic planning advantages over the competition.
Helpful Hint: Avoid the garbage-in, garbage-out data predicament by employing dedicated data quality staff throughout the BI project.
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Benefits of BI
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BI projects deliver strategic and efficiency benefits
BI Benefits
Strategic Benefits: Improved decision making. Deeper insight into data. Improved customer service. Improved accuracy of predictions. Revenue generation. Fraud detection and prevention.
Efficiency Benefits: Ease of access to information.
Increased employee productivity.
Faster process cycle time.
Streamlined daily workflows and processes.
“Business Intelligence offers accurate information, in the format users want it in, quickly enough to use for making business decisions before the information is obsolete.”
IT Director, Manufacturing
With employees free from onerous manual intelligence gathering, they are able to focus wholly on strategic business initiatives. The benefits of BI are evident across the enterprise.
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Plan
Implement
Operate
1. Project Planning
2. Obtaining Buy-in
3. Scope Definition
4. Resourcing
5. Vendor Selection
6. Cleanse,
Pilot, Deploy
7. Gain User
Adoption
8. Operations
9. Governance
Plan, Implement & Operate
Best practices for the planning, implementation and operational steps of BI are covered in the full report.
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Sample Case Study
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Sales and marketing success achieved through a successful BI deploymentBusiness Intelligence Status
Total Employees 1,500 IT Staff 17
Industry Wholesale/Retail BI Project Cost $200,000
Important Functionalities
Daily tracking of sales data (Dashboards) End-user reporting
Main Drivers Increased efficiency and time savings for IT Better and faster data for the marketing department
Vendor IBM Cognos
OUTCOME OVERALL EXPERIENCE
Top Benefits
IT time savings (1/2 FTE) Marketing team has improved
decision making and is able to do more with less money
The organization has seen an overhaul of its marketing strategy because of the improved data available through the BI solution and is now able to target market its most valuable customer groups. Cognos was chosen as the vendor due to its easy-to-use interface, while full support from the CFO and COO was integral in combating initial user resistance. IT led the BI initiative; however, if they were able to do it all again, they would fully engage the business during the requirements planning process to save from making changes post-deployment.
Top Challenges
Data cleansing was time consuming
Users are not tech-savvy and initially resisted adoption
“There’s a clear benefit that we have now. The (new) marketing plan
has been more successful with the
same number of advertising dollars. That reinforces that:
hey, this data has helped us make better
decisions.”
Case Studies