Consolidating data saves money: Gartner

In preparation for its upcoming Business Intelligence Summit, the Gartner Group has released nine recommendations to companies wanting to cut IT costs.

The Stamford, Conn.-based market research firm says consolidating redundant databases, and putting separate data marts into one single warehouse, can save money by making things simpler.

The company also says organizations can reduce software license costs by acquiring data integrations tools, and they can also avoid buying new software by requiring project teams to use existing data assets.

By enforcing corporate standards for the use of tools, such as naming conventions and other protocols, companies can make it easier for teams to collaborate, according to Gartner.

Other cost-cutting techniques include using open source software, renegotiating service contracts and postponing low-priority projects.