business intelligence for real estate: build vs. buy

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Make An Informed Choice Leaders in multifamily real estate today already know the value of an investment in Business Intelligence. An investment in BI can pay back $13.01 for every $1 spent, according to Nucleus Research. But before you start implementing BI for your portfolio you have a decision to make: Should you build your own business intelligence solution, or should you buy it? BUILD BUY PROS Not custom-built specifically for your business *according to research from GoodData Highly customizable to your business Build the exact dashboard you need Takes 17 months on average to build BI in-house Added costs for development, training, and support Average first year cost of internal BI is $2 million CONS CONS PROS 70% of in-house BI projects fail to finish on time or in budget Difficult to switch property management/accounting software May have extra features you don’t want, and not every feature you do Includes the cost of training, support, and maintenance Will be up and running in weeks, not months Time and effort saved with automated data processing Less expensive to buy and maintain Built on a technology platform that is easy to update or change BUILD BUY There's a reason global revenue in the BI and analytics market is trending up. Many companies are weighing these two options and coming to the same conclusion — for most real estate companies, it doesn't make sense to build BI. Hopefully this helps you make your decision for your multifamily real estate business. *according a recent report from Gartner

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Make An Informed Choice

Leaders in multifamily real estate today already know the value of an investment in Business Intelligence. An investment in BI can pay back $13.01 for every $1 spent, according to Nucleus Research.

But before you start implementing BI for your portfolio you have a decision to make: Should you build your own business intelligence solution, or should you buy it?

BUILD BUY

P R O S

Not custom-built specifically for your business

*according to research from GoodData

Highly customizable toyour business

Build the exact dashboard you need

Takes 17 months on average to build BI in-house

Added costs for development, training, and support

Average first year cost of internalBI is $2 million

C O N S

C O N S P R O S

70% of in-house BI projects fail to finish on time or in budget

Difficult to switch property management/accounting software

May have extra features you don’t want, and not every feature you do

Includes the cost of training, support, and maintenance

Will be up and running in weeks, not months

Time and effort saved with automated data processing

Less expensive to buy and maintain

Built on a technology platform that is easy to update or change

BUILD BUY

There's a reason global revenue in the BI and analytics market is trending up.

Many companies are weighing these two options and coming to the same conclusion — for most real estate companies, it doesn't make sense to build BI. Hopefully this helps you make your decision for your multifamily real estate business.

*according a recent report from Gartner