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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. Businesses adopt them to boost their performance by gaining valuable insights into their critical operations by using BI 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, the cloud-based BI market will be worth around $2.94 billion in 2018, according to a report by the Redwood Capital. 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 is 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 that the solutions provided by Microsoft are flexible and relatively simple to deploy, as reviewed by a BI expert. Its...
Big Data – What is it?

Big Data – What is it?

In the recent times, Big Data has been put to different uses. Superstar Lady Gaga has created her very own social network Littlemonster.com from the data of millions of fans who follow her on Facebook and Twitter. Many big healthcare organizations today are adopting advances data analytics which are helping them in offering personalized care to the patients, determining the patient population of a particular type, advancing in medical research and much more. Not just this, even the Central Intelligence Agency of the US is looking for data scientists who can create robust database systems. There are reasons why Big Data has really taken off the market and why more and more people have stopped considering their bulk external as trash. The reason lies in the characteristics of Big Data, which are stated below: Volume The biggest attraction of big data to big data analytics is its ability to process large amounts of data. The integral challenge of this processing to IT structures is volume, which calls for a distributed approach for query and scalable storage. Velocity The other important characteristic of big data is the velocity with which data flows into an organization. The pattern followed by this parameter is similar to that of volume. Variety Data used in an organization is usually unordered and not ready for any kind of processing. Therefore, the data is diverse in nature and form. Big Data in Practice There is a difference between theoretical practices and actual deployment. The tool that should be used depends on the different dimensions of deployment. One of the major decisions that have to be made...