Tuesday, September 20, 2011

Survey shows European Decision Makers in Need of Better BI

Information Builders, the software vendor of the enterprise Business Intelligence product WebFOCUS, partnered with market research company Vanson Bourne for insight into how European companies make decisions and to evaluate the impact of those decisions upon business.

In this "No Barrier to Good Decisions" study, Vanson Bourne surveyed over 600 professionals in eight different countries across Europe. Almost all of the respondents (86%) felt that their companies could be making better decisions; 72% felt that a key to achieving faster decisions would be to have better access to information.

However, over half said it was not about more data, but rather easier access to the information already in the enterprise. Forty percent of the respondents wanted simpler BI tools and applications.

The study found that European managers spend over one hour each day looking for information. When viewed financially, this unproductive time costs European organizations with over 1000 employees about 8 million euros annually. The study found that marketing professionals spend even more time than managers looking for data--83 minutes per day (versus 67 for the managers).

Almost all of the people surveyed (88%) feel their organization does not give them the proper tools to do their jobs. 68% believe their company does not provide them with properly formatted information suitable for easy use.

The bottom line? Almost nobody in the survey felt they were capable of making good decisions based on the tools and data provided by their organizations.

Information Builders' Chief Marketing Office Michael Corcoran commented:

"If companies want to increase their competitiveness, they need to improve access to data across all levels of the company. They risk hampering any competitive advantage if they limit the availability of data for business decisions to desktop or laptop users and overlook other mobile devices. In addition, they have to be realistic about the level of control they will have over the devices the data is being accessed on.
At the heart of supporting this goal is the need to create the right infrastructure and support to enable broader access to data over an ever-increasing number of devices, either in real time or using a local device cache." 

Good Business Intelligence goes back to the simple formula of providing the right information at the right time to the right person so he or she can make the right decision and take the right action. Of course, this survey shows that executing a BI initiative effectively is the difficult part. 


For more information, see the press release

2 comments:

Valerie said...

In today's competitive world, organizations must have complete access to data across all levels of the company. BI applications help organizations to get a clear vision of business data and efficiently analyze their operations.
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parvez said...

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About Me

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I am a project-based software consultant, specializing in automating transitions from legacy reporting applications into modern BI/Analytics to leverage Social, Cloud, Mobile, Big Data, Visualizations, and Predictive Analytics using Information Builders' WebFOCUS. Based on scores of successful engagements, I have assembled proven Best Practice methodologies, software tools, and templates.

I have been blessed to work with innovators from firms such as: Ford, FedEx, Procter & Gamble, Nationwide, The Wendy's Company, The Kroger Co., JPMorgan Chase, MasterCard, Bank of America Merrill Lynch, Siemens, American Express, and others.

I was educated at Valparaiso University and the University of Cincinnati, where I graduated summa cum laude. In 1990, I joined Information Builders and for over a dozen years served in regional pre- and post-sales technical leadership roles. Also, for several years I led the US technical services teams within Cincom Systems' ERP software product group and the Midwest custom software services arm of Xerox.

Since 2007, I have provided enterprise BI services such as: strategic advice; architecture, design, and software application development of intelligence systems (interactive dashboards and mobile); data warehousing; and automated modernization of legacy reporting. My experience with BI products include WebFOCUS (vendor certified expert), R, SAP Business Objects (WebI, Crystal Reports), Tableau, and others.