Companies set to invest in business intelligence/analytics

Tuesday 22 January 2013

An increasing number of companies are set to invest in business intelligence solutions over the coming 12 months, a study has suggested.

Research conducted by Gartner found that analytics solutions are the number one IT priority for chief information officers in 2013.

The IT analyst found that IT bosses are looking to prioritise investments in this area as they bid to draw insight from business information.

Some 55 per cent of CIOs surveyed said they believe big data/analytics solutions will be disruptive over the next ten years.

According to Shitali Malviya, consultant at Sigma Infosolutions, business intelligence tools can offer companies an immediate return on investment (ROI).

She claimed such solutions can bring down a firm's operational expenditure by improving operational efficiency, lowering total cost of ownership and optimising business processes.

"A good business intelligence solution will not only create, but also enforce processes to follow from day one," she stated.

"Different types of ROI an organisation can benefit from a business intelligence solution include revenue enhancement, margin protection, cost reduction, cost avoidance, and capital cost avoidance."

Other benefits of business intelligence include faster reporting, better management information, better decision making, and more productive users.

Posted by Alex Boardman