State of Tennessee’s MicroStrategy Application Wins DM Review’s World Class Solution Award
Tennessee Using MicroStrategy to Analyze Millions of Financial Records
McLean, Va., (June 03, 2003) –
MicroStrategy® Incorporated (NASDAQ: MSTR), a leading worldwide provider of business intelligence software, today announced that the State of Tennessee’s Department of Finance and Administration has won a DM Review World Class Solution Award for its MicroStrategy business intelligence application (Click Here). Tennessee’s Department of Finance and Administration has successfully deployed the MicroStrategy system for processing and analyzing millions of financial records in an efficient manner.
The Department selected the MicroStrategy Business Intelligence Platform(TM) to serve as the analytical tool for its financial data warehouse application — now called the Financial Data Access System (FDAS) and housed in a mainframe DB2 database. The solution has provided the Department with the ability to conduct financial analysis across multiple dimensions with an easy-to-use Web-based interface for State decision-makers to build new reports, execute queries and schedule reports.
This MicroStrategy application has reduced costs and significantly improved the quality of financial information for decision-making. State decision-makers now get financial updates daily instead of monthly. Centralized quality control has helped to ensure that financial calculation formulas are accurate and logical. With access to more timely financial data, State decision-makers can make more informed assessments on how best to spend and manage Tennessee’s financial resources.
“MicroStrategy is extremely proud to win this prestigious award with the State of Tennessee’s Department of Finance and Administration,” said MicroStrategy’s COO Sanju Bansal. “This application demonstrates the exceptional scalability of MicroStrategy’s software for highly critical, far-reaching implementations – which in this case benefits an entire state.”
DM Review is one of the industry’s most respected trade publications. The DM Review World Class Solutions Award, a symbol of excellence within the business intelligence and data warehousing industry, originated in 1996.
About MicroStrategy Incorporated
Founded in 1989, MicroStrategy is a worldwide leader in the increasingly critical business intelligence software market. Leading Fortune 2000 companies are integrating MicroStrategy’s industrial-strength software into virtually all facets of their businesses. The MicroStrategy Business Intelligence Platform(TM) distills vast amounts of data into vital, probing insight to help drive cost-efficiency, productivity, customer relations and revenue-generation. MicroStrategy offers exceptional capabilities – excellent scalability, powerful analytics, user-friendly query and reporting features and an outstanding, easy-to-use Web interface. Top companies are using MicroStrategy to cost-effectively harness large, multi-terabyte databases; empower thousands of employees at all operational levels; and extend the benefits of business intelligence enterprise-wide and beyond to customers, partners and suppliers.
MicroStrategy has over 2,000 enterprise-class customers, including General Motors, Best Buy, Lowe’s Home Improvement Warehouse, Yahoo!, Visa International, Wells Fargo, Telecom Italia, AT&T Wireless Group and Aventis. MicroStrategy also has relationships with over 500 systems integrators and application development and platform partners, including IBM, PeopleSoft, Sun, and JD Edwards. MicroStrategy is listed on Nasdaq under the symbol MSTR. For more information or to purchase or demo MicroStrategy’s software, visit MicroStrategy’s Web site at Click Here.
MicroStrategy, MicroStrategy 7, MicroStrategy Business Intelligence Platform, and MicroStrategy 7i are either trademarks or registered trademarks of MicroStrategy Incorporated in the United States and certain other countries. Other product and company names mentioned herein may be the trademarks of their respective owners.
This press release may include statements that may constitute “forward- looking statements,” including its estimates of future business prospects or financial results and statements containing the words “believe,” “estimate,” “project,” “expect” or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results of MicroStrategy Incorporated and its subsidiaries (collectively, the “Company”) to differ materially from the forward-looking statements. Factors that could contribute to such differences include: the Company’s ability to secure financing for its current operations and long-term plans on acceptable terms; the ability of the Company to implement and achieve widespread customer acceptance of its MicroStrategy 7i software on a timely basis; the Company’s ability to recognize deferred revenue through delivery of products or satisfactory performance of services; continued acceptance of the Company’s products in the marketplace; the timing of significant orders; delays in the Company’s ability to develop or ship new products; market acceptance of new products; competitive factors; general economic conditions; currency fluctuations; and other risks detailed in the Company’s registration statements and periodic reports filed with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
MicroStrategy, MicroStrategy Business Intelligence Platform are either trademarks or registered trademarks of MicroStrategy Incorporated in the United States and certain other countries. Other product and company names mentioned herein may be the trademarks of their respective owners.
Marc Brailov
MicroStrategy Incorporated
(703) 770-1670
mbrailov@microstrategy.com
Source: MicroStrategy