Businesses can suffer or enjoy the data mining process depending on their business strategy. They can suffer information hell when they still depend on spreadsheets to make business decisions or enjoy data heaven with a business analytics solution.
Valencia, Spain, Wednesday - August 15th, 2012 -- In today’s increasingly global, complex and competitive world, companies looking for profitable sustainable growth need to constantly invent new competitive advantages. A large number of firms still depend on the thousands of spreadsheets generated every minute in their company to make decisions. A common solution offered to this kind of organizations is to implement business intelligence (BI) solution, so they can make decisions based on information that is reliable. However, in a moment that the economic recession mischance rules, the hidden costs of BI solutions are not affordable.
Businesses can suffer or enjoy the data mining process depending on their business evolution strategy. They can suffer information hell when they still depend on spreadsheets to make business decisions. They can feel like in purgatory, a situation where they are in between hell and heaven, with traditional BI software, or they can feel like in heaven, with a cloud computing business analytics solution.
The Internet has become a place where massive amounts of information and data are being generated every minute. Every day, every company needs to analyze its business information to be able to answer to all its business questions. Organizations need to make difficult decisions based on data that must be reliable. However, most companies spend large hours making manual calculations, sorting out their information and trying to find out what figures say.
CEO, COO, CFO and CTOs feel like in hell. Information is scattered all over the different reports and spreadsheets. That is the moment when frustration, waste of time and money knock at the door of their office asking for a BI solution.
Business intelligence has been presented to help organizations do more with less. But it is also possible that a BI implementation will cost organizations more than they expect. In a recent Aberdeen Group study, analyst David Hatch has outlined some potential cost factors likely to arise in a BI initiative:
- Year-after-year budget increases and companies can witness growths in BI expenses that range from 2 percent to 9 percent.
- Cost per user, generally increases ranging from 1 percent to 7 percent.
The cutting-edge alternative to get full control of businesses is to opt for a cloud computing business analytics solution. Cloud computing alternatives allow companies to deploy a full business analytics solution in a fraction of time, with zero investment on hardware or licenses and with a provider that needs to keep CEOs happy because of the pay-as-you-go model.
The current economic difficulties are creating even greater interest in business analytics solutions because of the potential it offers to analyze data to identify opportunities to cut costs or increase sales. With IT budgets essentially flat this year cloud computing business analytics solutions allow companies from any industry and any size to increase their performance. It helps users from any department make better business decisions by giving them access to powerful and easy to use business analytics tools so they are able to extract value from the data they need.
While Traditional Business Intelligence can provide of “Information", Business Analytics offers "Knowledge” to answer needs and make the most of organizations.
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