在BI项目实施的漫长征途中，需求分析阶段如同勘探地图，其精确度直接决定了整个行程的顺畅与否。许多团队在此折戟，并非因为技术不精，而是跌入了 需求分析中那些或浅或深的陷阱。这些陷阱，可大致归为两类：易见却常踩的"浅层陷阱"、隐蔽而危险的"深层陷阱"。 一、第一层：浅层陷阱——源自沟通与经验的缺失 这类问题通常直接可见，却因沟通草率与经验不足而屡屡发生，不断消耗着项目团队的精力与信誉。在浅层陷阱中，最典型的两个问题分别出在数据的"内 在严谨性"与"外在友好度"上。 1. 内在严谨性:指标计算口径问题 当甲方提出"我们需要毛利率指标"时，新手往往直接套用公式（收入-成本）/收入。然而，真正的挑战在于如何界定"收入"与"成本"。是否应剔除退货、赠 品、内部测试订单及员工折扣？忽略这些过滤条件，得出的指标却无法真实反映盈利状况，更会引发不同部门间的数据之争，最终导致BI系统可信度崩塌。 解决之道在于建立并严格执行一份活的"指标字典"，为每个关键指标明确定义其分子、分母及所有过滤条件，从源头上保证数据的一致性。 1. 数据粒度的选择，是分析与性能的权衡 将数据粒度简单设为"最细"或"最粗"都是危险的。仅存储"月度-门店" ...

Investment Rating - The report maintains an "Accumulate" rating for the company [2] Core Insights - The company's revenue for the first three quarters of 2025 reached 1.614 billion yuan, a year-on-year increase of 2.63%, while the net profit attributable to shareholders was 51 million yuan, also up by 2.40%. However, the net profit excluding non-recurring items decreased by 12.07% [5] - The company's mainland business is under short-term pressure, but its AI-enabled non-mainland business continues to grow steadily. Revenue from mainland operations was 734 million yuan, a slight decline of 0.15%, while non-mainland revenue reached 880 million yuan, a year-on-year increase of 5.06% [6] - The company is enhancing its AI product matrix to drive smart upgrades in the manufacturing industry, focusing on core pain points in supply chain, finance, inventory, and factory intelligence [7] - The company expects total revenue for 2025-2027 to be 2.465 billion, 2.730 billion, and 3.038 billion yuan, with year-on-year growth rates of 5.77%, 10.74%, and 11.31% respectively. The net profit attributable to shareholders is projected to be 183 million, 217 million, and 269 million yuan, with growth rates of 17.62%, 18.29%, and 24.24% [8] Financial Summary - As of the latest closing price, the company's total market capitalization is 14.8 billion yuan, with a price-to-earnings ratio of 93.86 and a debt-to-asset ratio of 31.3% [4] - The company has a total share capital of 271 million shares, with 269 million shares in circulation [4] - The projected earnings per share (EPS) for 2025-2027 are 0.67, 0.80, and 0.99 yuan, respectively [10]