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

Mihaela Muntean and Cornelia Muntean

MPRA Paper from University Library of Munich, Germany

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.

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) (search for similar items in EconPapers)
JEL-codes: C02 C88 G17 L21 L86 M15 (search for similar items in EconPapers)
Date: 2012-11-18, Revised 2013-05-28
New Economics Papers: this item is included in nep-cmp, nep-ore and nep-ppm
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Published in ECECSR Journal 2/2013 (2013): pp. 85-102

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