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They're using it to identify hot sellers, cut costs and discover new business... It looked just like your average faux fish, mounted on a faux wood plaque. But when you walked by, the fish would turn its head, open its mouth and start singing, "Don't Worry, Be Happy" or "Take Me to the River." Pure kitsch. And as it turned out, pure gold for the True Value store owners lucky enough to have them in stock. "It was a hit," says Neil Hastie, former CIO of TruServ, a member-owned hardware cooperative of 7,000 or so independent retailers. "We ran out of them." So when the same company came out with a gopher singing "I'm All Right" - remember Caddyshack? - it seemed like a sure bet. "Everyone thinks, 'God, this is the second fish! Let's order the hell out of it.' So we did," Hastie says. "We ended up with truckloads of gophers we couldn't give away." Fortunately for TruServ, the company had business intelligence (BI) software that helped it recognize the gopher fiasco early enough to liquidate the unwanted rodents and recoup some of its expenses. That ability to quickly make sense of oceans of data can be a competitive advantage, making BI software essential for many companies. A broad range of applications for BI is helping companies rack up impressive ROI figures. Business intelligence is being used to identify cost-cutting ideas, uncover new business opportunities, roll ERP data into accessible reports, react quickly to retail demand and optimize prices. TruServ's Hastie, for example, spent $250,000 on BI software from Business Objects and says the investment paid off in about two months. Besides using it to track anomalies like the gophers through an executive dashboard, TruServ is also pressing it into service as a CRM tool and is using it to integrate data from disparate accounting systems, which will help the company close its books two days earlier every month. Otherwise tight-fisted CIOs are spending money on BI software because its relatively low investment yields fast payback, says Larry Downes, strategy consultant and author of Unleashing the Killer App and The Strategy Machine. "[Unused data] is still a great source of untapped productivity and competitive advantage for most companies," he says. Just how much data is going unused? Downes guesses companies are extracting value from only about 20 percent of their data. 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