UK businesses are wasting millions of pounds on unsuccessful business intelligence (BI) initiatives, with some spending as much as £1m on analytics implementations, according to research from Kognitio.
The survey was carried out by Vanson Bourne to gauge attitudes towards BI at UK businesses. The company quizzed 200 IT directors at companies with over 1,000 employees.
The costs associated with BI implementations are causing UK companies a number of headaches. A quarters of those quizzed admitted that they had spent over £1m on BI, and over half said they had spent at least £500,000.
The majority (65%) of firms believe that BI is too expensive due to the manpower and time required from the IT department, the cost of acquiring and deploying the necessary hardware and the cost of software licences.
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