The main goal of a business intelligence (BI) system is to assist in making good business decisions. These computer-based systems identify and analyze business data such as sales revenue and buying trends to provide perspective on business operations that supports the decision-making process.
With all the money and other resources at stake in business decisions, business intelligence systems can be critical to making the right choices for the future. And yet, economic conditions have curtailed BI spending. This is unfortunate because a good BI system can conserve those same resources and make companies more competitive.
According to Parth Sarathi Mukherjee and Karthik Krishnamurthy in their "Readying Your Information for the Economic Revival" post on CTO Edge:
Business intelligence (BI) should be among the top priorities for forward-thinking IT executives.
In organizations with no BI system in place, those forward-thinking IT executives on the hunt for a BI vendor should use the Business Intelligence RFP Template as a starting point for finding the right solution. Writing an RFP for a software system as complex as BI can challenge the most savvy procurement team. Take advantage of this comprehensive BI RFP template from Info-Tech to help translate requirements into an RFP document that will target the right vendor.
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