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Evaluating A Business Intelligence Solution. Feasibility Analysis Based On Monte Carlo Method

Author

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  • Muntean, Mihaela
  • Muntean, Cornelia

Abstract

Business Intelligence (BI) initiatives are challenging tasks, implying significant costs in their implementation. Therefore, organizations have adopted prudent policies requiring a financial justification. A business-driven methodology is recommended in any BI project initiative, project scoping and planning being vital for the project success. A business-driven approach of a BI project implementation starts with a feasibility study. The decision-making process for large projects is very complicated, and will not be subject of this paper. Having in mind a middle-sized BI project, a feasibility study based on the Monte Carlo simulation method will be conducted. A SaaS BI initiative versus a traditional one will be taken into consideration.

Suggested Citation

  • Muntean, Mihaela & Muntean, Cornelia, 2012. "Evaluating A Business Intelligence Solution. Feasibility Analysis Based On Monte Carlo Method," MPRA Paper 48478, University Library of Munich, Germany, revised 28 May 2013.
    • Handle: RePEc:pra:mprapa:48478
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    References listed on IDEAS

    as
    1. William Yeoh & Andy Koronios & Jing Gao, 2008. "Managing the Implementation of Business Intelligence Systems: A Critical Success Factors Framework," International Journal of Enterprise Information Systems (IJEIS), IGI Global, vol. 4(3), pages 79-94, July.
    2. Muntean, Mihaela & Cabau, Liviu Gabriel, 2011. "Business Intelligence Approach In A Business Performance Context," MPRA Paper 29914, University Library of Munich, Germany.
    3. Eduard EDELHAUSER, 2011. "IT&C Impact on the Romanian Business and Organizations. The Enterprise Resource Planning and Business Intelligence Methods Influence on Manager’s Decision: A Case Study," Informatica Economica, Academy of Economic Studies - Bucharest, Romania, vol. 15(2), pages 16-28.
    4. Marinela MIRCEA, 2008. "Strategy for selecting a Business Intelligence solution," Informatica Economica, Academy of Economic Studies - Bucharest, Romania, vol. 0(1), pages 103-109.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Business Intelligence (BI); Software as a Service (SaaS); Monte Carlo method; BI project feasibility; Total Cost of Ownership (TCO); Return on Investment (ROI); Internal Rate of Return (IRR);
    All these keywords.

    JEL classification:

    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • C88 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Other Computer Software
    • G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
    • M15 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - IT Management

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