Business Intelligence Blog from arcplan
15Dec/110

Webinar Recording: Calculating ROI for Business Intelligence Projects

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In case you missed arcplan’s webinar on December 13th, Calculating ROI for Business Intelligence Projects, here’s the recording to view at your convenience:

https://www4.gotomeeting.com/register/860992719

 

In this webinar, we discuss:

  • What ROI terminology really means so you can speak the same language as your finance team
  • The 6 kinds of “return” you should expect from your BI project
  • The 5 BI projects that never pay off
  • A 7-step methodology for calculating the ROI of your BI project

Thanks to everyone who attended, and for those who didn’t, let us know if you’d like to discuss anything you see in the recording.

8Dec/110

Free BI Webinar: Calculating ROI for Business Intelligence Projects

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Tuesday, December 13th @ 2pm Eastern marks the final webinar of 2011 for arcplan! If you’re being asked to justify your BI spend as 2011 comes to a close, this webinar will show you how to do it.

Since we first presented this webinar last November, more than 400 organizations have used our methodology to successfully calculate their BI ROI. This year, we’re offering attendees access not only to our easy-to-use ROI Excel template, but also to our free web application that simplifies ROI calculation even further.


In this webinar, we will present a methodology based on 10 years of ROI calculation for arcplan’s customers. We’ll take you step by step through the tough questions to ask during your ROI analysis and we’ll present case studies from several organizations. We’ll even give you insider tips like the top 5 BI projects that never pay off.

Note that audio for this event will be broadcast through your computer speakers/headphones only – there will be on teleconference.

Hope you can join us for this BI webinar!

21Jun/110

The Methodology for Calculating BI ROI (What’s Your BI ROI? – Part 3)

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Thanks for keeping track of our series on Business Intelligence ROI! So far we’ve evaluated the potential ROI of a new BI project and we’ve explored the top 5 BI projects that never pay off. Finally, today we’ll outline the methodology for calculating the actual ROI of your BI project. We can accomplish this by addressing specific phases in our Cost-Benefit Analysis.

  1. Choose a targeted return goal and state your definition of success. One of Steven Covey’s habits in his book entitled “The 7 Habits of Highly Effective People” is to begin with the end in mind. Are you trying to reduce costs, avoid costs, or enhance profitability? State your goal so that you know what you’re working towards.
  2. List assumptions. Clearly state the specific assumptions being made in the Cost-Benefit Analysis. Provide documentation for the rationale or logic used in making this assumption and include any implications or risks involved. Yes, it’s a way of covering your bases, but more importantly it gives the project transparency.
  3. Resources. In this step, we are calculating costs from specific business units. We need to examine the current process and look at the resources that are currently involved. What is the hourly cost of your external consultants and analysts and how many working hours do they accumulate per week? The hourly rate and hours worked per work week will tell you what the project is costing you in terms of human resource allocation.
  4. Define the benefits in timeline format. How much time do your analysts or members of the management team spend loading data from a financial system, dealing with data load issues or generating reports? How often do you require external consultants or get visits from external auditors? Additionally, we must note the periodicity of these exercises. How often are these people in place? Monthly, quarterly or twice a year? And do you have daily reconciliations? If some of these tasks can be replaced, automated or accelerated by your BI solution, then you can calculate monthly savings and even a cumulative extended benefit in the future.

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