Value of Business Intelligence

Regardless of the technology that you choose and there are more and more being developed each year. Asking for money to start or extend a Business Intelligence project is not about the technology. It is about the value that data can deliver to the business. Data laying in a database does not provide value. To start understanding the value to the business you need to clearly document what are the goals of the the BI project. Listed below are a few examples:

  • Create a consolidated list of customers from across the enterprise to enable cleaner marketing campaigns
  • Create a 360 degree view of a customer to provide better customer service by understanding current and previous customer interactions.
  • Reduce fraud on new transactions by combining all transaction data, cleansing and then producing a training model that enables probability analysis on incoming transactions.

Note in all of these examples no technology or software was mentioned. With each of these examples you can extend and create ROI models based upon the business need. For example, how much fraud do you believe you can stop, how much money will you save by having a comprehensive customer list and reducing duplicate mail postage.

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