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An Effective Business Intelligence Strategy is the Key to Business Success, Says IDC

A new report from analyst group IDC reinforces that a key factor contributing to the performance of organisations is the ability to manage the explosive growth of information.
  • 25 August, 2008 12:42

<p>SYDNEY, 25 August 2008. A new report from analyst group IDC reinforces that a key factor contributing to the performance of organisations is the ability to manage the explosive growth of information.</p>
<p>The report titled, ITEyewitness: Keys to a Successful Business Intelligence Strategy shows that the creation of a Business Intelligence Competency Centre (BICC) is the strategic answer to enterprise-wide information overload. A BICC is the centre within an organisation that provides guidance and vision to the enterprise as it deploys BI solutions and creates BI success.</p>
<p>"Today's markets are faster moving, more diverse and more competitive than ever before. Data generation continues to skyrocket on a daily basis fuelled by new technology innovations such as RFID chips, nanotechnology, grid computing and video streaming,” said Melissa Martin, Senior Market Analyst, IT Spending and Vertical Markets, IDC.</p>
<p>“One of the key factors that contribute to the successful performance of organisation is the ability to manage this explosive growth of information that society is experiencing. The enterprise must empower all stakeholders with the right information and at the right time. A clearly defined, purpose-built business intelligence strategy can support this business need," concludes Martin.</p>
<p>The report provides guidance on how to establish a vision for an enterprise-wide business intelligence strategy. It highlights the key issues for leaders to consider before embarking on a BI implementation, including steps on establishing a successful BICC.</p>
<p>IDC research shows the benefits of a successful BICC are numerous and can include:</p>
<p>· Increased usage of data / business intelligence</p>
<p>· Increased collaboration among business units</p>
<p>· Increased business user satisfaction</p>
<p>· Increased decision making capabilities and speed</p>
<p>· Increased information analysis and business agility</p>
<p>· Increased standardisation of business practices and processes</p>
<p>· Increased level of data quality</p>
<p>· Forum for repeatable results</p>
<p>· Decreased staff time wastage looking for information</p>
<p>· Decreased software costs</p>
<p>· Decreased risk of project failures</p>
<p>· Better understanding of the value that BI brings to the organisation</p>
<p>ITEyewitness: Keys to a Successful Business Intelligence Strategy also contains a buyer case study of the evaluation, design, architecture and implementation of an in-house BICC at utility provider, Sydney Water. It highlights key milestones achieved during the process and develops an in-depth roadmap for the project. The study evaluates the results and the benefits for the utility provider to-date, and provides a forward-looking vision for future expansions of its BI capabilities.</p>
<p>On IDC’s website, www.idc.com, this media release relates to document #AZ616101Q
ITEyewitness: Keys to a Successful Business Intelligence Strategy.</p>
<p>This report is now available. To purchase this report, please contact Lady Gueco, Business Development Manager on +61 2 9925 2261 or lgueco@idc.com.</p>
<p>Ends</p>
<p>For press enquires please contact:
Melissa Martin
Senior Market Analyst, IT Spending &amp; Vertical Markets, IDC
+61 2 9925 2258
msmartin@idc.com</p>
<p>Sally Taylor-Phillips
Marketing Communications Manager, IDC
+61 2 9925 2234
staylorphillips@idc.com</p>
<p>About IDC</p>
<p>IDC is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. IDC helps IT professionals, business executives, and the investment community make fact-based decisions on technology purchases and business strategy. More than 1000 IDC analysts provide global, regional, and local expertise on technology and industry opportunities and trends covering over 110 countries worldwide. For more than 44 years, IDC has provided strategic insights to help our clients achieve their key business objectives. IDC is a subsidiary of IDG, the world's leading technology media, research, and events company. You can learn more about IDC by visiting www.idc.com or www.idc.com.au.</p>
<p>During 2008, IDC is celebrating its 30th birthday in Australia.</p>

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