SAS Study Reveals Business Intelligence Competency Centres are Key to Effective Information Management

Organisations with BI competency centres have improved financial results

Dublin, Ireland, 06. Jun. 2007 -  Many organisations are still struggling with the management of their information assets and how to use them to drive business performance, according to a recent study conducted by SAS, the leader in business intelligence. The research indicates that implementation of practices to improve information management benefits organisations by yielding better performance and financial results.

In March, SAS surveyed 175 business professionals representing organisations of various sizes and industries across the globe. The research shows that many companies are in the infancy stages of effectively managing their business information. Less than 25 percent reported that their senior management relies on business intelligence to make decisions. In addition, nearly eight in 10 had not yet fully implemented practices to ensure data quality, integrate required data across the business or create standard data definitions.

Conversely, those companies more sophisticated in their approaches to business information have seen the results on the bottom line. The survey found that organisations that have made commitments to effectively manage their information tend to be larger, more global and publicly traded. In addition, the study reveals that the performance of these organisations is stronger than that of their counterparts. Of particular note is that organisations with Business Intelligence Competency Centres (BICC) exhibit significantly higher commitment to information management best practices, which in turn leads to improved financial results.

THE CASE FOR BICCS: BETTER INFORMATION MANAGEMENT
Business Intelligence Competency Centres comprise cross-functional teams from IT and business. BICCs seek to promote the optimal use of BI and performance management across the organisation. They drive consistent BI deployments; ease in managing, implementing and supporting BI and performance management initiatives that span multiple departments; help standardise methodologies, definitions, processes, tools and technologies; and enhance BI skills.

Across organisations, more and more data is being collected and generated on an ongoing basis. This data is flowing in and through the organisation -ultimately to be translated into information. Business performance remains critically dependent upon timely, accurate information and analytical capabilities for good decision making. Effective Information Management can help organisations be more efficient, differentiate themselves from the competition, mitigate risk and comply with governmental regulations.

SAS customer TD Meloche Monnex, the largest direct-response home and auto insurer in Canada and one of the top three home and auto insurers in that country, implemented a BICC seven years ago to manage information and ensure that accurate data was being used to drive business decisions. Since then the BICC has grown in size and scope to manage data quality, analyse trends and conduct forecasting.

TD Meloche Monnex's BICC has helped it understand and manage information assets and create contextual and highly usable information. "There are no silos at TD Meloche Monnex," said Carl Lambert, Vice President of Forecasting and Business Intelligence at TD Meloche Monnex. "We have an integrated team of specialists who work with the various departments within the company. Our data is centralised so when we're putting together the company budget for instance we know the status of all projects companywide, and we can prioritise resources. The BICC allows us to see the big picture."

Lambert advised that any company considering implementing a BICC should start with a small team and then enlarge gradually. "The big bang approach won't work," Lambert cautioned. "The benefit is in providing high-quality data and gaining credibility within the organisation. The BICC should become a trusted adviser to the departments it supports. Help them make smarter decisions, and you help the bottom line."

FOR FURTHER INFORMATION:
Siobhan Molloy/Louise Cassidy Weber Shandwick
Tel: 01 676 0168

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