Are you and your colleagues spending far too little time analyzing data and far too much time compiling it? If so, you're not alone. A Ventana report estimates that business professionals could be spending upwards of 78% of their time waiting and preparing data for analysis versus doing the actual analysis themselves. Some of the reasons behind this may have to do with source data not being fully cleansed or in an unknown format. (Think XML) There's also something to say about the actual application software being used to do this analysis being a large part of the problem too.
It's hard to fathom how businesses can gain shareholder and executive confidence with these kind of delays. There's even times when applications like these deliver inaccurate information leaving much to be desired in the way of innovation when you're struggling just to ensure the information is accurate. ...and don't even get me started with the unpredictable costs in maintaining these applications that can quickly creep up on you.
Meanwhile, while all of this is happening, pressure is often applied to organizations to change platforms to suit the vendor's needs all in the name of performance improvements and usability. Who can argue with making performance improvements and upgrading the user experience but proceed with caution if you're considering this approach.
Before you do anything, ask yourself this:
Are your analysts waiting hours or even overnight to finish batch calculations?
Do you have to rely on others to gather and validate data before you even begin analysis?
Do you spend a great deal of time creating reports or modifying your business rules?
Are you paying for support of an old version of your analytics application due to the lengthy and costly upgrades?
Then, take a look at the source of your analytics and determine if you're satisfied with your solution's performance and flexibility for on demand analysis. Can the users quickly and easily extract data with the flexibility to run different queries without any issue limiting the scope of their needs? I'd suggest you learn more about what's working and not working from the people who are using the application each day before making an assessment.
Here are some additional resources to support you in this effort:
IBM has worked to help many customers like you suffering the all too common pains of outdated and archaic software implementations. Your IBM team would like to show you how to resolve your painful financial planning and analysis challenges in a faster, more efficient and less expensive way. If you act by August 29th, IBM will...
Execute a proof-of-concept on one Essbase application at no cost to you.
Offer a fixed price proposal to replace existing Essbase applications where significant reductions in your company's 5 year total cost of ownership can be realized.
Share our valuable experience on how other customers - including IBM - have solved this problem.
IBM can mitigate the risk of change and deliver 8 to 25 times faster reporting and analytics - all at a cost that is often half of our competitors, such as Oracle.
WHITEPAPER: IBM Concert and IBM Cognos TM1 - Improving performance by reducing decision-making latency