Cranford, NJ ─ July 23, 2012 – Paragon Solutions, an advisory consulting and systems integration firm, announced today the launch of a new service, Analytics Asset Inventory, which assists firms in prioritizing business intelligence initiatives that deliver the highest value to the business.
Driven by initiatives such as big data, customer data and the merging of diverse external data sources, the overall business analytics spend is estimated to increase more than 13-percent in 2012.* For most firms, that additional investment is built on a foundation of legacy enterprise reporting with an unquantified value.
“Firms are spending more on analytics, but in some cases getting less strategic value from their investment,” said Michael Hoffman, director of business analytics. “By our estimates, a minimum of 20 percent of analytics investment is wasted because the reports are no longer needed, findings are obsolete or inapplicable, formulas and values are based on outdated assumptions, or analytics require too much manual maintenance and interpretation.”
Paragon’s Analytics Asset Inventory, within a few weeks, provides a catalogue of the investment and returns of the analytics assets within the organization, offering insight into obsolete or underutilized reports, misallocated resources, potential automation opportunities, regulatory exposure and other issues that will hinder outcome performance.
“Analytics is just a cost until it changes an outcome,” Hoffman said. “Our service helps firms cut through the clutter of accumulated business intelligence reports and focus on the highest strategic value initiatives and the areas where analytics returns the greatest change in performance outcomes,” he said.
*“Building the Change-capable Organization to Meet the Technology Trends of 2012 and Beyond”
Paragon Solutions is an advisory consulting and systems integration firm that specializes in enterprise information management to help clients leverage information assets for better business results. The company does this through its industry practices, solution accelerators and specialized technology competencies that help clients achieve operational efficiency, business scalability and regulatory compliance.
Paragon works with businesses that are focused in a few key industries – communications, financial services, healthcare, insurance and life sciences. The industry-focused practices work with Paragon’s competency groups to address today’s client concerns in Process Optimization, Information Management and Information Integration.
For more information, please visit the Paragon website at www.consultparagon.com, or call 1.800.462.5582.