Achieving a Single Version of the Truth

Here's a hierarchy of solutions you should consider:

• extract data from major transaction processing systems into Excel or other reports;
• access databases and business analysts using online analytical processing tools;
• data warehouse products; and
• business intelligence systems with dashboards and analytics.

As the new year approaches, it’s time to lobby management for solutions to this problem, especially in this economy, where knowing exactly where you stand is essential. You only can control expenses and inventory, and know which products and promotions are working — and which aren’t — if you have accurate data on which everybody across the company can agree upon. In our experience, companies that use business intelligence systems to overcome such information problems have been successful in getting positive ROI from these types of systems within 12 to 18 months. In today’s business environment, that’s a “single version of the truth” on which all companies can agree.