How Business Intelligence (BI/Analytics) Helped a Small College Improve Its Data-Driven Decision Making
Larry Goodwin, president of The College of St. Scholastica writes, in Solving the "It's My Data' Mess, about the trials and tribulations of implementing a business intelligence platform for a small, private institution. The article is from University Business magazine. If it is reflective of the essays in the book linked-to below, then both are well worth a read for their perspective on the processes involved.
[P]utting the BI system into operation was not easy. The difficulty was not technological or quantitative; it was political: Who controls the fundamental data definitions? In the meetings of a large committee established to implement BI, it became obvious that people whose primary interests were tactical and departmental couldn’t agree on common definitions. Senior administration had to take hands-on control—our second lesson learned. ...
A BI system can be costly ($250,000 for us up front) and require significant staff training (intensive for key users for three to eight weeks; ongoing, more moderate, for a year). But the payback is generous and quick. Data reporting has increased ten-fold. Time spent retrieving information has been reduced 50 to 75 percent. Collections work that took a monthly half day now takes less than a minute. The controller saves over eight hours each semester on reconciling numbers. And so forth. Best of all, data is reliable and consistent, allowing for accurate and integrated planning, budgeting, and assessment.
It is excerpted from President to President: Views on Technology in Higher Education Volume II, published by Sungard Higher Ed and the Council of Independent Colleges (CIC). That entire publication can be downloaded as a PDF at no cost here.
Labels: College of St. Scholastica, MN, NCregion, Data, Information, Analytics, Action Analytics, business intelligence, bi, small college, Private
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