By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    data-driven white label SEO
    Does Data Mining Really Help with White Label SEO?
    7 Min Read
    marketing analytics for hardware vendors
    IT Hardware Startups Turn to Data Analytics for Market Research
    9 Min Read
    big data and digital signage
    The Power of Big Data and Analytics in Digital Signage
    5 Min Read
    data analytics investing
    Data Analytics Boosts ROI of Investment Trusts
    9 Min Read
    football data collection and analytics
    Unleashing Victory: How Data Collection Is Revolutionizing Football Performance Analysis!
    4 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: Defining ROI for BI
Share
Notification Show More
Aa
SmartData CollectiveSmartData Collective
Aa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Business Intelligence > Defining ROI for BI
Business Intelligence

Defining ROI for BI

LyndsayWise
Last updated: 2010/07/13 at 3:26 PM
LyndsayWise
2 Min Read
SHARE

Over the years, ROI calculations have been created by many and adapted within organizations to justify BI project spending, implementation, and expansion. Unfortunately, beyond-

Over the years, ROI calculations have been created by many and adapted within organizations to justify BI project spending, implementation, and expansion. Unfortunately, beyond-

  • Cost savings – as mentioned above and may include hardware/software, licensing, maintenance fees, etc.
  • Time savings – employee production and better decision making
  • Process automation – includes the time saved on report/analytics creation

it can be hard to ascertain qualitative benefits of BI.  Companies feel that they are better able to make decisions based on the increase in information visibility, but attaching this to revenue growth and overall productivity is not always easy. For instance, marketers are constantly trying to identify the success of their marketing campaigns.  This may include defining the correlation between individual campaigns and lead generation or online marketing activities or advertisements and an increase in sales.  Unfortunately, it is not always easy to identify where opportunities are generated and the correlations that exist between marketing initiatives and sales.

More Read

predictive analytics and POS use

Predictive Analytics Is Lifting The ROI Of POS Marketing

How Real-Time Analytics Can Help Assess ROI Of Toll-Free Call Support
Measuring Social Media ROI: Leveraging Data To Boost Results
AI Is Empowering Everyone to Become Their Own Branding Expert
How Can I Prove Content Marketing Generates ROI?

The same difficulty exists in identifying ROI for BI.  How do organizations define the extra value they incur through BI adoption and calculate ROI to take into account the additional factors that bring added business value beyond the quantifiable BI benefits?

Please share your BI ROI success stories.

TAGGED: roi
LyndsayWise July 13, 2010
Share This Article
Facebook Twitter Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

big data and IP laws
Big Data & AI In Collision Course With IP Laws – A Complete Guide
Big Data
ai in marketing
4 Ways AI Can Enhance Your Marketing Strategies
Marketing
sobm for ai-driven cybersecurity
Software Bill of Materials is Crucial for AI-Driven Cybersecurity
Security
IT budgeting for data-driven companies
IT Budgeting Practices for Data-Driven Companies
IT

Stay Connected

1.2k Followers Like
33.7k Followers Follow
222 Followers Pin

You Might also Like

predictive analytics and POS use
ExclusivePredictive Analytics

Predictive Analytics Is Lifting The ROI Of POS Marketing

6 Min Read
call center support
AnalyticsExclusivePredictive Analytics

How Real-Time Analytics Can Help Assess ROI Of Toll-Free Call Support

8 Min Read
leveraging social data for ROI
AnalyticsBig DataExclusiveSocial DataSocial mediaSocial Media Analytics

Measuring Social Media ROI: Leveraging Data To Boost Results

19 Min Read
artificial intelligence AI disrupting marketing and branding
Artificial IntelligenceBusiness IntelligenceExclusive

AI Is Empowering Everyone to Become Their Own Branding Expert

6 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

AI chatbots
AI Chatbots Can Help Retailers Convert Live Broadcast Viewers into Sales!
Chatbots
ai is improving the safety of cars
From Bolts to Bots: How AI Is Fortifying the Automotive Industry
Artificial Intelligence

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?