I am having some problems justifying the expenses associated with a Business Intelligence project, as our senior management are not really aware of what it entails. They assume it is just basic MI delivered to them via a web portal, but no matter how hard I try to explain that it will enable them to run the business much more efficiently (some think they are running it efficiently enough) and effectively, by giving them the information they need at their fingertips, through improved and quicker information delivery from one source (enabling them to react quicker to situations), sophisticated analytical tools (answering the "how or why did this happen", or "what if this were to happen" type questions) and data mining (data pattern recognition), just to name a few benefits.
As they cannot place an actual revenue amount on these benefits, the ROI calculations fall short of any investment, unless we can show that we can reduce Management Information staff, but this is unlikely, as these applications need to be managed.
Basically, I would like to know if any of you have successfully convinced financial and senior managers of the strategic importance of having a Business Intelligence tool, or in fact have authorised a Business Intelligence project, where there has been no real cost reduction associated with project.
May 14, 2004 10:46 AM
June 6, 2004 1:46 AM