Invest one dollar in BI and get 13 in return.

An obvious question when considering investing in Business Intelligence is ‘what are the costs and how high is the ROI?’ But maybe you should rather be asking yourself if you could afford not to invest in BI…

Large expenses for the company

An investment in Business Intelligence can be expensive – in both time and money.

However, just try to consider whether you recognize some of the issues listed on the right by not having a BI solution and then take into consideration the cost for your company.

All this may be very costly to your company – not only directly as resources wasted, but also indirectly as delays, missed opportunities, mistaken conclusions and much more.

Eliminating these issues in your business will show on the bottom line.

Can Business Intelligence reduce the costs listed on the right? The answer is simple – Yes, it can.

  • Do you often lack the right information to be able to make the right decisions – or do you sometimes have too much information but not enough insight?
  • Are you spending a lot of time discussing the validity of your reporting instead of the actual contents?
  • Are you certain that the key indicators on which you base your decisions are the correct ones and that they are up-to-date?
  • Do you spend a lot of time finding and structuring the necessary information? Moreover, distributing it to the right persons at the right time?
  • ”Are you bogged down by spreadsheets” and do you find it hard and time consuming to integrate and consolidate data?
  • Do you find it complicated to make ad-hoc analyses?
  • Is information abstruse to those who need it, or is access to information limited to very few key persons?

The figures speak for themselves

Now, you may think that it is too easy to argument for the positive ROI for Business Intelligence without putting a number on the advantages.

Actually, more people already have. One of the most recent analyses about ROI on Business Intelligence has been made by Nucleus Research, who specializes in analyzing the value of technology.

The research was made among American companies in all sizes across more industries and with different types of Business Intelligence solutions.

Nucleus Research has evaluated ROI on Business Intelligence based on three levels, dependent on the extent of BI throughout the organisation.

Level 1 – Automation. By automating the company reporting, which will eliminate manual reporting and save time and reduce number of errors, you will achieve an average ROI of 188%.

Level 2 – Tactical use of Business Intelligence. If the company succeeds in using the BI solution for saving time and improving decision making, you can achieve an average ROI of 389%.

Level 3 – Strategic use of Business Intelligence. If Business Intelligence is spread across the entire organization and is used for adaption of operation for the above strategic goals, you will achieve an average ROI of 968%.

Still not convinced? What if we add that the investigation also showed that each dollar invested in Business Intelligence is 13 dollars earned?

Want to know more?

Do you want to know more about the value of Business Intelligence for your specific company? Then contact one of our local partners to learn more about InfoSuite Business Intelligence and Budget.

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