Sort through data with business intelligence
With endless information accessible in today's big data sprawl, it is often difficult for businesses to sort through data that is valuable and isn't without outside assistance. Because of this, more and more organizations are turning to business intelligence in order to sort through vast reams of data to develop concrete analytics.
A new report by DSquared Media provides valuable insight into the worth of adopting business intelligence software and infrastructure. According to the study, for every $1.00 spent on business analytics, $10.66 was yielded in returns. Furthermore, 74 percent of organizatons who manually assembled data from various sources negatively affected daily operations.
The report also found that many large corporations used BI in developmental years in order to become the giants they are today. For example, Febreze used a marketing campaign aided by BI when first released, and now sales total over $1 billion a year. In addition, Target used marketing campaigns aided by BI and revenues grew from $44 billion in 2002 to $67 billion in 2010.
The study found that there was an assortment of reasons why people were influenced by BI. Ninety-five percent of respondents found that they were influenced by BI for its ability to increase insight into operations. Furthermore, 85 percent found business intelligence provided faster process and reporting cycle time, while only 48 percent were influenced by regulatory compliance.