Business Intelligence Slideshow: Business Intelligence: Using Data Effectively
Your CEO is probably already pushing you to find effective ways to increase revenue through the services or solutions you already employ. Doing so is getting harder with each passing month as data piles up, products falter, and you're forced spend your time putting out fires. A recent study commissioned by Sybase and conducted by the University of Texas reveals that improving the overall intelligence and accessibility of data in your operation could do wonders for your bottom line. In fact, it's possible that you could generate millions of dollars in additional revenue simply by improving the way your data works for you. The University of Texas study has found that a 10% improvement in data effectiveness can deliver significant ROI. The study was conducted by the university's McCombs School of Business in conjunction with the Indian School of Business. More than 150 respondents from Fortune 1000 firms completed the survey. Financial and some operational performance data on the firms represented by the survey respondents was collected from archived sources. The empirical analysis involved two steps: Factor analysis to determine distinct attributes of data, and multiple regression analysis to test the relationships between data attributes, controls and performance measures.