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Business Intelligence: Using Data Effectively

By Don Reisinger on 2010-10-07


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.

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What is Improved Data Effectiveness?

• data quality
• intelligence
• usability
• remote accessibility
• sales mobility

New Products

Improving data effectiveness by 10 percent enables the average Fortune 1000 firm to create new products that can increase revenue by $17 million.

New Customers

Improving data intelligence and accessibility by 10 percent enables the average Fortune 1000 company to add new customers for a $14.7 million increase in revenue.

Industries in Need of Improvement

The petroleum sector stands to gain the most from improved data accessibility and intelligence that facilitates the introduction of new products. The average firm generates more than $250 million after data improvement is made.

Industries in Need of Improvement

Retail companies can generate close to $250 million through new products that result from a 10 percent improvement in data effectiveness.

More Revenue

Over the course of five years, companies could stand to gain $56 million in revenue from new customers by increasing data effectiveness.

Industry Dollars

The average petroleum company could generate more than $200 million in additional revenue through the acquisition of new customers if it improves its data effectiveness by 10 percent.

Industry Dollars

Telecommunications companies can generate nearly $200 million from the new customers that would result from a 10 percent improvement in data accessibility and intelligence.

Sales Gains

Improving data intelligence by 10 percent results in a sales gain of 1.51 percent for niche products and services.

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