Finding Business Value in Business Intelligence
Business intelligence (BI) “business value” is an industry term used to mean the profitable revenue generated as a result of actions taken based on insights provided by BI. According to this report on Information Management, the most straightforward way to increase business intelligence business value is to increase the number of people gaining actionable insight from BI.
“Before making BI value creation a priority, let's define BI “business value.” BI business value is the costs reduced and/or the profitable revenue generated as a result of actions taken based on insights provided by BI.
“If you buy into this, then the most straightforward way to increase BI business value is to increase the number of people gaining actionable insight from BI.
“Here are three ways to maximize this:
– Ensure new BI insights will be actionable.
– Make new solutions a higher priority than upgrades.
– Buy more, build less.”
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