| Business Intelligence (BI) is a collection of powerful | | | | 5. Is there a need for a simpler approach to |
| performance management tools that help | | | | handling regulatory compliance requirements, |
| enterprises gather, coordinate, and transform | | | | customer relations, reporting obligations, including |
| data into knowledge efficiently. Properly deployed, | | | | audits, accountability, invoices, and inventory |
| BI promises timely insight into seemingly disparate | | | | tracking? |
| information. It supports objectivity in business | | | | 6. Is there a need to improve information sharing |
| decision-making. | | | | by being able to integrate, slice and dice data |
| However, the success of BI adoption depends | | | | from multiple internal and related external |
| critically on how well the product fits the needs of | | | | sources? |
| an enterprise. In addition to product research and | | | | The outcome of such an objective evaluation of |
| brand comparisons, it is important to conduct an | | | | current enterprise data management and |
| internal assessment of related enterprise | | | | anticipated needs is important in the choice of |
| processes. This article suggests some tips on how | | | | appropriate BI product and vendor. |
| to conduct a needs assessment before the | | | | It makes business sense to invest in a product |
| acquisition of BI technology. | | | | with a solid track record and a potential for |
| A needs assessment involves a detailed checklist | | | | longevity. A good place to continue the research |
| of how an enterprise collects and uses data in | | | | on current industry standards for BI is through |
| order to identify a possible role for BI. The | | | | comparing the products of the following |
| following are some questions that might reveal | | | | developers: |
| pertinent characteristics to inform the best choice | | | | 1. IBM - Cognos |
| of BI product: | | | | 2. Oracle - Hyperion |
| 1. Does the enterprise collect large amounts of | | | | 3. Microsoft |
| transactional and operational data from multiple | | | | 4. MicroStrategy |
| departments, markets, and geographical locations? | | | | 5. SAP Business Objects |
| 2. Are the enterprise data integration and | | | | 6. SPSS |
| analytical processes getting complicated without | | | | Conclusion |
| providing a corresponding enhancement in | | | | A thorough needs assessment is one way to |
| information value? | | | | improve the returns on business intelligence |
| 3. Is it currently difficult to see, quickly, how | | | | investment. BI tools promise to transform the |
| enterprise data from multiple sources are related? | | | | efficiency and objectivity of business decisions. |
| 4. Is there a growing problem with tracking | | | | However, realizing these benefits hinges on how |
| internal operational trends and assessing | | | | well the chosen BI product fits the needs of the |
| contributing factors? | | | | enterprise. |