Business Intelligence

Business Intelligence: A Guide for Midsize Companies Improving Your Company's Efficiency and Effectiveness, No Matter Its Size

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Executive Summary

Big organizations employ Business Intelligence (BI) to improve effectiveness and efficiency and take important business decisions. However, mid-sized companies have generally stayed away from making use of BI. This is due to the perceived high costs involved in BI systems and complexity in the tool. Therefore they often face issues with alignment of strategic goals and operation, management of data, prioritizing problem areas and integration of reports from multiple departments. An efficient BI system is the solution to all these problems. A mid-sized company has a lot to gain from installing a good BI system. It helps the management to identify potential problem areas, recognize opportunities, analyze results as well as maintain reporting standards at par with industry standards. The thought that BI is an expensive affair and can be afforded only by Fortune 500 companies is only a misconception. Today, there are many cost effective solutions available in the market which are easy to install and use and can be easily integrated with the existing platform environment of a mid-sized company. It is, however, important to consider the reputation, experience and stability of the vendors before selecting a BI system. Employing a vendor with a good market reputation, suitable training capabilities and compound delivery options can help a business to set up a result oriented BI system that will help them run their company more intelligently.

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