Guidance on 2004s BI options

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Hi all -

Need some guidance on a new (green field) implementation of NW2004s. ECC and BI in scope and EP/XI is out of scope for initial phase. Possible options include:

1)BW 3.5 back-end and front-end; BPS (with NW 2004s ECC component - not sure this is viable or reasonable).

2)2004s BI back-end; 3.5 front-end; BPS

3)2004s BI back-end and front-end; BPS

4)2004s BI back-end and font-end; IP (is this possible w/o EP?)

Currently have no BI/BW knowledge in-house. Consultants familiar with BW3.5 and inexperienced with 2004s BI. Pros and cons of above enumerated options appreciated considering: FEP/SP and upgrade issues; compatibility issues; functionality improvements 3.5 versus 2004s; stability of 2004s BI components, etc. Any other heads-up advice or options appreciated.

Thanks,

Pat