Yesterday at Oracle OpenWorld, Desjardins General Insurance spoke about evaluating return on investment (ROI) for business intelligence (BI) projects. Surprisingly, most of the value to be found in BI projects come not from cost savings, but from the growth that BI enables.
"Our objective is growth," said Sonia Sevo, vice president of the BI Competency Centre at Desjardins. Sevo explained that BI gives Desjardins access to better information, which helps them make better business decisions. This in turn has allowed them to achieve their strategic objective of growing the company.
"It allowed us to grow faster, and also to improve our customer service," Sevo said.
"When building a business case for BI, focus on monetizing those benefits, rather than on technology savings," she advised.
This ties in with advice from Sevo's co-presenter, Jason McDonald, director of product strategy at Oracle Insurance. McDonald authored a column in this blog on how to build a business case for BI projects. Please read more for details on McDonald's advice during yesterday's session.
Lynne Sampson is senior marketing editor for Oracle Insurance.