Thursday, February 10, 2011

Business intelligence and analytics fundamentals


Business intelligence and analytics fundamentals

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Business intelligence (BI) and analytic technologies are seeing rapid growth in today’s tight economy, driven by fierce competitive pressures. Also fueling growth is the technologies’ ability to improve decision-making, identify new business opportunities, maximize cost savings, and detect inefficient business processes.
Table Of Contents
SUMMARY
Impact
Ovum view
Key messages
Definition

Business intelligence and analytics fundamentals

BUSINESS IMPACT
Overview
Rationalizing and reducing operational costs
Improving the customer management process
Maximizing operational agility
Enhancing business performance alignment across the enterprise
Avoiding unnecessary risk exposure and ensuring adherence to regulatory compliance
SELECTION CRITERIA
BI strategy comes before technology selection
A range of factors impact the BI suite selection decision
What type of analysis is required?
What number and type of users need supporting?
How should BI be deployed?
What data storage, integration, and latency requirements are needed?
What level of integration with existing IT infrastructure is needed?
Ovum’s BI suite evaluation framework
Components of a BI suite
Data management and data integration service
Analysis service
Application service
Information access and presentation services
SOLUTION MATURITY
A consolidating market landscape
Open source BI is seeing real traction
The SaaS BI market is small but growing
Appliance form factor momentum continues
Consultants and systems integrators have an important role to play
DEPLOYMENT AND MANAGEMENT CONSIDERATIONS
BI projects can be high risk, but also high reward
Common barriers and pitfalls
Running a BI initiative – best practice
Building a business case
Securing executive sponsorship
Ensuring closer alignment of IT and business
Deliver quickly, but keep the big picture in mind
Train users effectively
RECOMMENDATIONS
Recommendations for enterprises
Look towards EPM for greater organizational alignment
Analytics brings a higher yield of analysis
Consider the implications of moving to operational BI
Get the data foundation right
A business intelligence competency center can lower TCO
Consider alternative deployment models
Recommendations for suppliers
Increase user interface usability efforts
Continue on the path of integration and interoperability
Verticalize BI product offerings
Consider alternative pricing and licensing models

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