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How to Initiate Business Intelligence in Your Organization

When running a business, it’s important to know what works for you, what doesn’t work for you and what hasn’t worked out for you in the past as well as what you need to do further to improve in the future. A mere knowledge of the facts on the face value is not enough to empower people with the insights they need to make better business decisions. There are some questions that only a dedicated process can answer. This is where Business Intelligence (BI) comes in: it is a smart data analysis process that businesses adopt to boost their performance by gaining valuable insights into their critical operations, using reporting applications and analytics tools. The applications and software used in this process are commonly known as BI applications and often include tabular reports, spreadsheets, charts, and dashboards. While BI systems are known for being costly and time-consuming, there are a myriad of business benefits associated with using these. According to a recent report by Dresner Advisory Services, apart from the clear advantage of better decision making, companies are found using BI for revenue growth, an increased competitive advantage, improved operational efficiency, and enhanced customer service. In addition to the outcomes cited by Dresner Advisory Services, BI also helps organizations improve decision-making processes at all levels of management and enhances their tactical and strategic management processes in the following effective ways: Gain Valuable Insights into Consumer Behavior Once you’re able to see what your customers want and understand what they are buying, using BI applications and tools, you can use these insights to develop something that matches the expectations of your customers...

Business Intelligence Reporting and Data Analysis: Microsoft’s Business Intelligence Software Stack

Business Intelligence Reporting and Data Analysis: Microsoft’s Business Intelligence Software Stack Business Intelligence (BI) is a smart data analysis process that businesses adopt to boost their performance by gaining valuable insights into their critical operations, using reporting applications and analytics tools. A growing number of BI tools, software applications and infrastructures are being developed and deployed by enterprises around the world. From the identification of inefficient practices within an organization and the discovery of new operating opportunities to better work management and a real competitive edge in the market, businesses have been reaping dynamic results from the use of BI tools and applications. It is thus not surprising that, according to a report by the Redwood Capital, the cloud-based BI market will be worth around $2.94 billion in 2018. Best BI Software Tools The goal of everyday BI is to get the right information to the right person at the right time so that positive changes can be made to a business. Choosing the right tool in changing the BI landscape is the key to realizing your BI goal every day, but it can be a matter of great confusion. A large number of BI tools have been launched in the market that are tailored to the specific data needs of large- and small-sized businesses. Amongst the most popular and widely used BI software tools include Pentaho, Sisense, Board, Birst, Targit, SAP Crystal Reports, MicroStrategy, QlikView, Tableau, IBM Cognos, Quadbase Systems, Profitbase, and Microsoft Business Intelligence Technologies. Microsoft’s Dominance in the BI Space One of the reasons why Microsoft is dominating the BI space is, as reviewed by a BI expert, that the...

Big Data – What is it?

Big data, as the name suggests, represents data that is big. It is the term that is used to define data that is known to have exceeded the processing capacity of the traditionally used database systems. The fundamental characteristics of this data include its big size, fast moving speed and structure that cannot be fit in database architectures. The only way you can use this data is by using an alternative and more efficient processing mechanism. However, recent past has presented some viable approaches for processing of big data. As a result, big data has become a buzzword. These approaches tame the variability, velocity and volume of this data. It has become possible to unleash the power of big data and making the same available to the less well-resourced establishments with the use of open source software and cloud architectures. This data can be used by organizations in two ways. Companies can use this data for analytics and use it to get better insights to their business. Secondly, it gives these companies a valued trait of agility. The term ‘big data’ is just as nebulous as the term ‘cloud’. It includes a diverse set, which entails data from satellite imagery, web page content, server logs and data from social networks, in addition to data from several other sources. In the recent times, Big Data has been put to different uses. Superstar Lady Gaga has created her very own social network called ‘Littlemonster.com’ from the data of millions of fans who follow her on Facebook and Twitter. Many big healthcare organisations today are adopting advances data analytics which are helping...