Myths and Truths about Retail Business Intelligence Systems

The turbulent business environment has become complex and challenging for retailers. The equation of success is redefined constantly with multiple players, and many variables.

Businesses look upon IT infrastructure as great levellers to address this complexity, to solve issues of inefficiencies and to tap opportunities that will help profits soar. However, the promise of innovative solutions and quick answers to success has created a blind dependency on IT systems, especially Business Intelligence (BI) systems, which may not be best suited to a certain business. Therefore, decision-makers need to carefully weigh the pros and cons of each BI system before they buy them. In fact, after implementing a BI system, businesses have discovered that it often does not produce the right results for them, and then to remedy the specifications often costs them more than the original price of the solution itself.