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How to calculate the ROI of a Business Intelligence implementation?
There are a ton of things indirectly related that are hard to specifically say will improve because of BI, but one of the easiest ways would be to look at what kind of manual reporting time it will be replacing.
In our cases, we ended up eliminating the need for tons of different monthly reports being done by different departments. Look at the time it took to make those reports before, and how much it will take afterward and apply cost that way.
ROI (Return On Investments) is good to show the intangible benefits as well. Maybe what was once a monthly report can now be seen daily, allowing management and front-line employees to react more quickly and potentially improve efficiency, make decisions much faster and drive businesses forward faster. Those are definitely benefits, but the innovative project realization depends on strength of the management team.
We prepared our standard …
Advanced Analytics Applications
Advanced Analytics is an autonomous or semi-autonomous data or content examination that uses sophisticated technology or tools to discover deeper insights, make predictions or create suggestions, usually beyond the traditional Business Intelligence (BI).
Advanced analytical techniques include the design of self-service analytics tools for end-users, which could provide end-to-end analytics with drill-down features from multiple data sources.
Advanced analytical techniques include Robotic Process Automation of Business Intelligence, Natural Language Understanding, machine learning, AI planning, matching patterns, precision, data visualisation, semantalyzing, network and cluster analysis, multi-specific statistics, graphic analysis.
In brief, you are not just giving insights into trends and patterns to anyone who asks for data, but you are managing the tools to provide your business user the ability to get poorly accessible corporate data from multiple data sources to inform and speed business decisions with significant benefits for enterprises.
How to empower employees to make decisions?
Fully empowered employees make good decisions, resolve problems and drive businesses forward faster. We look at how different leadership and management styles can help them succeed.
A McKinsey Global Survey found that decision-making takes up 70 percent of management's time. The average Fortune 500 company typically equals more than half a million days of managers' time. A majority of respondents to the survey said that their organizations do not spend that decision-making time well. As business becomes ever more complex and dynamic, managers have to make more decisions, under time pressure, and often with too little or the wrong kind of data, the respondents say.
Organizations should treat different types of decisions differently to make the best use of their time on operational decisions. The McKinsey survey was based on a survey of more than 1,000 business leaders across the U.S. and Europe.
We’ve written about the value of classifying …
Introducing the Microsoft Teams NLSQL Chat-GPT 4 free App
We are excited to announce the launch of our innovative Microsoft Teams Chat-GPT 4 free App, a game-changing addition to your collaboration toolkit. This state-of-the-art AI-driven solution seamlessly integrates with Microsoft Teams, empowering users to access quick and accurate answers to their questions and spark new creative ideas.
At the core of the Chat-GPT 4 App is its ability to assist users by answering a wide array of questions. Whether it's general knowledge, technical support, or industry-specific queries, the app has you covered. By leveraging the power of ChatGPT 4, users can save valuable time, allowing them to focus on more important tasks.
The Chat-GPT 4 App goes beyond providing answers—it also serves as a catalyst for creative thinking. By understanding user prompts, the app can generate new ideas, brainstorm solutions, or even suggest activities to foster team engagement. This feature is invaluable for businesses looking to drive innovation and …
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Business Intelligence Search Setup
As businesses become more complex and competitive, managers and leaders are forced to make more decisions under pressure, often with insufficient or incorrect data. We discovered that decision-making consumes a significant portion of management's time—up to 70%.
The opportunity costs are enormous: for a Fortune 500 corporation, they usually amount to more than half a million days of management time or $250 million in salary per year. What's more worrying is that, amid this huge investment, the majority of respondents to a McKinsey Global Survey said their organisations don't spend their decision-making time effectively.
Empower team members to make decisions by intuitive Business Intelligence tools brings your company saving time and money. The success of future enterprises will combine sophisticated information collection with a better user experience for your company leaders.
If you are a technical or BI expert, you can find a 10 minutes video tutorial on how to …