So often when companies are considering a business intelligence project or software purchase, a question arises that seems to stump everyone involved.
“Where is the ROI in this project?”
This question has stopped many a business intelligence project in its tracks. Maybe it’s asked by the CFO or CEO. Maybe it’s brought up in one of the meetings with a vendor or consultant presenting a solution. The sad truth is if you can not answer this question with hard numbers in specific areas, the ROI probably isn’t there.
I.R.A.C.I.S. is a simple acronym that can be used to quantify a business intelligence project’s worth to a company. It stands for the following:
Increase Revenue – How will this application and functionality drive more sales to new or existing customers, shorten the sales cycle, and/or bring down the cost of sales?
Avoid Costs – By far the area most focused on … Read More