New research, released by Kognitio, reveals that companies see themselves as wasting millions of dollars on unsuccessful business intelligence (BI) implementations. One out of every four companies said that they had spent more than $1.5 million on business intelligence implementations and more than half of those questioned had spent at least $750,000. Furthermore, despite these large investments of money, the research revealed that these implementations do not provide the value companies expect, with 62% admitting they receive a barrage of complaints from their business users.

The survey also revealed that BI implementations take too long to provide companies with any intelligence, with 78% stating that it takes more than a year to see any meaningful results. This means by the time companies receive actionable intelligence, business needs have changed and the data is out of date.

“These results are extremely worrying. Gaining intelligence a year after starting a BI implementation is completely unacceptable;  it is no wonder BI implementations so often fail and that they have such a bad reputation,” commented Roger Llewellyn, Kognitio’s Chief Executive Officer. “Companies need to start looking very closely at why business intelligence isn’t delivering the value they expected and look back at what they expected it to achieve,” Llewellyn added.

This BeyeNETWORK news item contains information from a recent press release by the company mentioned.