The Real Cost of Business Intelligence: License and Out-of-Pocket Expenses
- Posted by agrAdminEGG
- On June 11, 2020
Very often the license cost of a BI tool is confused with the cost of the entire business intelligence process. We all know companies face major expenses in order to upgrade to the expected data-driven decision-making process. Unfortunately, though, the truth is that the license alone is not enough.
To transition to a complete system that uses all the data to help you make decisions, you need something more. In this article we will see what the real cost of Business Intelligence is. We will also give you some insights on how you can identify the right tool for you.
The Real Cost of Business Intelligence
First of all, you will still need to have some of your resources working on the project.
We can divide this staff into:
- Maintenance and tool manager.
- Tool users.
- Responsible for the transformation and loading of data.
- Graphic and design experts.
In addition to the human resources costs, the following will still need to be considered:
- Expenses arising from the addition of space for data growth.
- Time of implementation of new analysis processes.
Now, we will estimate the real cost of Business Intelligence by going into more detail on the items listed above.
Maintenance and Tool Manager
Generally, an IT engineer or data analyst will be responsible for maintaining and operating your tool in the right way. This happens in order to ensure its appropriate use in each project.
Based on the architecture of the tool and the ease of management, your employee will be more or less busy. Therefore, the tool you choose can have a major impact. If it is user friendly, it will require less hours of management and maintenance and it will save you money.
In this case, for each project in which Business Intelligence is used, you will probably need a team of a different size. Ultimately, the number of resources employed will vary depending on the tool you are using.
In particular, the size of the team will be proportional to the ease-of-use of the tool. Secondly, it will depend on the number of operations that can be performed independently by the tool itself.
Responsible for Preparing and Uploading Data
The raw data cannot be directly fed to the BI tool. In fact, before loading, the data needs to be prepared and transformed so that it can be understood by the tool. In this case, in addition to human work, investing in an appropriate transformation platform that can ease this process should also be considered.
At the end of the data transformation, this has to be loaded and their accuracy must be guaranteed. Therefore, it is advisable to make sure that the proper tool and a data preparation system are equipped with machine learning algorithms to guarantee minimum effort and maximum performance.
Graphic and Design Experts
At this point it is necessary to consider the presentation of the data that is of great importance in the business intelligence process.
The right tool should always allow the use of graphics agreed and implemented in the startup phase and lighten your expenses by guaranteeing you a correct and appropriate design without having to take on the task of employing expert designers.
In business intelligence, it is known, data is everything and it is very easy for it to increase day by day as well as the number of external data sources to aggregate and conform to one’s own.
What does it have to do with the cost of BI? Simple, the need to buy new storage space. In this regard, it is important to evaluate both the availability of memory and the allocation methods when choosing your tool in order to optimize both archiving process and response time. A poor tool may require continuous space upgrades which would significantly increase BI spending.
Time of Implementation of a New Analytical Process
Speed is one of the most important variables to really evaluate how efficient a business intelligence tool is. To better understand this point we can refer to the expenses covered in this article and we can relate them to the number of new analytical processes carried out. If we divide the overall cost of one year of BI by the number of projects completed, we can trace how much BI cost for each project. Therefore, speed becomes a very important variable.
The more analytical processes have been implemented, the lower the cost of business intelligence will be. It is important that these processes are implemented in the shortest time possible. In order to do this, the right tool should be easily scalable, easy and intuitive to use and the manufacturer should make its expert team available for the reception and implementation of new projects and training of the staff.
AgrEGG is simple and intuitive, the architecture of our tool and our control algorithms guarantee minimum effort for maintenance and management. In addition, our team is always available to verify that everything works as expected and with high efficiency.
Working with your data has never been easier and the ease of use will allow you to dedicate the least amount of resources for each BI project.
With our platforms optimized for data preparation, the loading process will be fast and extremely simple; you will not have to continuously turn to your IT team and everything will happen in a very short time.
What about the graphics? You think about the result you want to get and we take care of the design.
Finally, our team of experts will be able to identify the data necessary for your projects ensuring the optimization of memory spaces. Above all, our team will always be ready to implement your new processes and ensure you get the highest speed possible in order to allow you to make the most of your data with the minimum expense for each process!
If you are now clear about the total cost for business intelligence, choose the right tool for you… choose AgrEGG.
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