Business Intelligence Systems Help Maximize Profits, Propel Growth

John Storts

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.

 

More from the Knowledge Network and IT Business Edge


Business Intelligence Research Notes

Job Description: Business Intelligence Specialist

BI Standardization Is Slow to Happen in the Enterprise

The Bifurcation of Business Intelligence

Slideshow: SaaS Makes Business Intelligence Work for SMBs



Add Comment      Leave a comment on this blog post
Jun 11, 2010 4:07 AM George Elliot George Elliot  says:

Change can be hard to manage.I found these tips helpful in prepping my company for a recent BI change.

12 Steps to a Better ERP Launch

Carlos Lozano, MCS, MBA, Consultant     

Improved processes and a competitive edge are the destination, but how do you get there?Whether your business is entering a first ever enterprise resource planning (ERP) experience or considering a move to an ERP that more effectively meets current requirements, clear expectations and planning can improve your experience and near term success. The following steps will help you reach your goal.

1)     Quantify ROI expectations.Know why you are implementing a new ERP and what the results will be. These should be specific to the processes you are seeking to improve such as inventory, and the time frame in which the ROI is to take place.

2)     100% organization "buy in" is essential, including managers and non-managers.Buy in looks this way:

A.     Be willing to commit the time, information, processes and resources to making this transition successful.

B.     Keep the vision of improved competitiveness and profits at the forefront at all times.

C.     Accept that current processes will change and prepare to adapt to the new processes.

3)     Understand who owns the final responsibility for success.

A.     The company is the final owner of the outcome.

B.     Consulting partners facilitate success, provide tools and expertise.

4)     The CEO, COO or CFO assign individuals or a group as project managers and empower them to insure compliance, buy in and smooth process execution.Empowerment is a tool for addressing organizational resistance.

A.     Project managers should include key player from all departments and processes.

B.     Project manager should welcome individual input while conveying that they will have final decision making responsibility.

5)     Assume that the project will take time away from established resources for the project implementation period.

A.     Time impacts productivity.

B.     Time may require additional human resources allocation or redistribution on a temporary basis.

C.     Plan ahead to compensate for these changes.

6)     Stick to the initial scope of the project, unless a critical element has been overlooked, and save the "wish list" for later.

7)     Acknowledge expertise gaps and bring in objective outside resources when necessary for first round implementation success.

8)     Assume that change is not easy but it is the way to growth.Let go of what isn't working for your organization.The goal is greater efficiency and competitiveness.If the old way worked, your organization wouldn't have launched on the path for a new ERP.

9)     Train to reinforce, test, transfer knowledge and insure the best delivery for your project.Training completes the cycle and takes the hypothetical to real world success.

10)      Reply

Jun 11, 2010 4:07 AM George Elliot George Elliot  says:
Make a clean break.Do not run parallel systems once you launch.This reinforces old behaviors and habits.Test the system before launch and make sure everything works before you Go Live.

11)     Allocate on-site support for the first 30 days or more after you go live.Do not assume that your human resources already know how to do their job in the new construct.It's easier to identify and fix glitches earlier than later.

12)     ERP will not be painless but the process can be made easier by following these guidelines.

Carlos Lozano, an entrepreneur and international manufacturing and ERP software expert, has launched two successful technology companies during the last 20 years.He is currently the CEO of ITS-Dynamics, Inc., with operations in Austin, Texas, Mexico and Chile, and the company is a leading technology partner both the U.S.and in Latin America.Lozano is an MBA graduate of the IPADE School of Business, considered one of the world's top MBA programs.He may be contacted at info@its-dynamics.com or you may visit the company web site:www.its-dynamics.com

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