Date Added: Aug 2012
While many large enterprises have adopted analytics technologies such as business intelligence (BI), performance management (PM), and predictive analytics, misperceptions about costs and risk have caused small and midsize companies to embrace these technologies far more slowly. In fact, Nucleus has examined hundreds of analytics deployments and found that the decision to adopt analytics can enable a company to thrive and be more profitable rather than simply survive and move from one operational or financial crisis to another. They also determined that:
- Even small companies can afford analytics from deployment to ongoing support, and costs are also low relative to benefits, leading to high returns on investment.
- Complexity can be managed; data diversity is rarely an obstacle during deployments.
- Analytics improves decision-making; when employees make decisions based on facts and data from well-governed analytics applications, they are far more likely to make decisions that increase revenues, improve gross margins, and eliminate operating costs.