Despite the overwhelming belief that business intelligence (BI) could benefit their companies, perceived high costs have prevented BI professionals worldwide from deploying BI systems, according to a recent survey. Forty-three percent of respondents said their firms perceive the cost of implementing corporatewide BI to be "prohibitive" and 30 percent said they want a BI solution but are waiting for costs to drop before deploying one.
The survey -- which was conducted on behalf of Teksouth Corp., a Birmingham-based provider of data management and analysis systems, and LogiXML, a provider of Web-based BI -- examined responses from more than 250 global companies, ranging from Global 100 to midsize firms from across industries, including financial services. "The survey results reflect a substantial difference in perception versus reality in the BI market," said Arman Eshraghi, McLean, Va.-based LogiXML's founder and CEO, in a release.
Most companies traditionally pay between $1 million and $1.5 million to deploy a BI system, according to Brad Marshall, director of commercial products and services at Teksouth. He notes that Teksouth and LogiXML have developed a fixed-price server-based solution that, Marshall contends, reduces BI costs by 75 percent. "Per-seat licensing prohibits widespread usage," he says.
Less than 40 percent of survey respondents said their companies have depoyed BI tools.
Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio