Can An Enterprise BI Be Expensive?

What is an Enterprise BI?

Enterprise BI is a type of software made for big businesses. In an enterprise's complex environment, the goal is to increase productivity and efficiency. 

So, enterprise BI is just a Business Intelligence platform made to meet large businesses’ needs. But does it only mean that? Of course not.

What are the cost considerations in an Enterprise BI solution?

There are several costs involved in implementing an enterprise BI business dashboard software, including the following:

1. Software and license fees: 

The cost of the Business Intelligence platform and any required licenses will vary depending on the vendor and the type of solution (cloud-based, on-premise, or open-source).  

  • On-premise solutions: These solutions may require a larger initial investment but can provide more control over the data and be more customizable. According to a report by Dresner Advisory Services, the average cost of an on-premises BI solution is $200,000 per year. This includes the initial investment for hardware, software, and infrastructure, as well as ongoing maintenance and support.
  • Cloud-based solutions: The average cost of a cloud-based BI solution is $125,000 per year, as per the same report. Cloud-based solutions are generally more cost-effective in the long run as they are typically subscription-based and don't require a large upfront investment. However, the cost will depend on the vendor you choose, the number of users, and the amount of data storage and processing you need. 

One of the leading Business Intelligence software vendors, Grow, offers    cloud-based BI solutions starting from just $1500 per month, i.e., 18,000 a year. Quite a difference!

  • Open-source solutions: Open-source solutions are often free to use but may require additional development and customization, which can add to the overall cost. According to a survey by CIO, the average cost of implementing an open-source BI solution is $50,000.

2. Hardware and Infrastructure

On-premise solutions will require an initial investment in hardware, such as servers and storage, as well as ongoing maintenance costs. Cloud-based solutions typically do not require any hardware investment. This is true for Grow’s business dashboard software. 

3. Data Integration and Management

Integrating and managing data from various sources can be complex and time-consuming. This may require additional costs for data integration and management tools, as well as the services of data integration experts. 

However, with Grow’s Business Intelligence platform, you can connect, store, and combine data from hundreds of leading data sources without any extra cost

Using Grow dashboard, native integrations connect to the most popular platforms, databases, and CRMs to import data seamlessly through APIs that continually import and refresh data. This way, your metrics are always up-to-date and accurate when you need to make essential business decisions. And there is no added cost. 

4. Training and Support

The cost of training users on the new BI system and ongoing support can be high. Budgeting for these costs is essential when implementing a new BI solution. 

The average cost of staffing and training for a BI solution is $100,000 annually. Grow's modern no-code BI solutions require minimal to no training. Anyone in the organization can create an interactive dashboard without coding. 

On average, three days of training are required for BI understanding. With $1,500 per day as an example, that's $4,500. You can easily save this expense with Grow. Our training options include Live Online, Videos, Webinars, Documentation, and In Person. 

5. Customization and Development

Some organizations may require additional customization or development to meet their specific needs. This can add to the overall cost of the BI solution. 

But the quality and variety of customization should also be kept in mind. Grow offers a highly customizable interface with a custom Logo, Favicon, Custom Domain, Login Screen, and Email Setup. You can set up a palette that can be repeatedly used to ensure all your metrics visualizations fit your brand. 

6. Maintenance and Upgrades

Dresner Advisory Services states that the average cost of support and maintenance for a BI solution is $50,000 per year.

Grow’s reasonably lower regular maintenance and upgrades keep the BI system running smoothly and ensure that it continues to meet your organization's evolving needs. You can read Grow.com Reviews & Ratings 2023 - TrustRadius to learn more about our pricing structure. 

Conclusion

While there is no denying that enterprise BI solutions can be expensive, they can also provide significant benefits to organizations in terms of improved decision-making, increased operational efficiency, enhanced customer insights, and competitive advantage. 

It's important to remember that the benefits of an enterprise Business Intelligence platform can be significant and can ultimately justify the cost.  

When considering an enterprise BI solution, it's essential to work with a trusted vendor or consultant to evaluate the costs and benefits and to ensure a successful implementation. Create transformational workflows with our leading Business Intelligence software vendors and build custom experiences with the least cost. 

Choose the best Business Intelligence software for you; choose to Grow.

Browse Categories
Recent Articles
Why Your Approach to BI Reporting Might Be Inhibiting Your Growth Potential

Why Your Approach to BI Reporting Might Be Inhibiting Your Growth Potential

View Article
Continuous Integration/Delivery and Automated Testing in BI

Continuous Integration/Delivery and Automated Testing in BI

View Article
Why Choosing the Wrong Data Management Software Could Cost You More Than Money

Why Choosing the Wrong Data Management Software Could Cost You More Than Money

View Article
Join the 1,000s of business leaders winning with grow.

Request a free trial & unlock the answers hiding in your data.