A proper BI (Business Intelligence) solution fundamentals
When analyzing Business Intelligence solution is important to consider the quality information and a quick new technologies implementation cause if this is not taking as priority could happen the usse information overla and it could lead to irrelevant , inadequate and inconsistent data , misleading information.
BI is a research field that focused on theorical and practical aspects of achieving a solid information , using:
- Reporting : is a core functionaliy tool as the objective to create , recurring standards , which are predifined , scheduled , refreshed periodically
- Dashboards: combin high level , agregated strategic company data , comparable presentations and consolidated performance indicators, they include oth static and interactive reports with data translated into graphics , charts , illustrations to simplify the communication of complex topics
- Analysis: details , filter , forecasts and trend to develop new insights
- Analytics: is atomated data which analizes basing on sofphisticated logic and neuro systems . WHAT IF scenarios and simulations provide advanced , tailored decisions making support
The fundamental basis of every BI system, however, is the data base on which it operates.
When analyzing a business intelligence solution, it is important to consider the business benefits
- Required information is available
- Data is consistent across organizational units
- Information can be easily analyzed using built-in analysis functionality
- Reports are presented in a user-friendly format
Essentially, BI improves efficiency on both the information technology (IT) side and the business side of the organization. On the IT side, workers are freed from the recurring task of creating and changing data reports as end-users are able to create and change their own reports. On the business side, less time is spent in data analysis and preparation as management reports are created directly from the BI dashboards. Not only is the data in these reports more up-to-date and credible, but also they are easier to read and handle. And, importantly, the information can be downloaded on smart devices
The software vendor and implementer are the same in most cases, as only a few companies are able to provide a full business intelligence suite, connected or even integrated somehow to the main enterprise resource planning (ERP) systems, such as SAP or Oracle
A proper BI solution is a must have in today's world. Companies in all industries are using BI systems for successful decision making. These companies beat their competition and identify new opportunities to optimize their businesses. They also reduce resources for manual effort and rededicate people to analyzing data and preparing decision memos. For companies that grasp the true potential in business intelligence, they should take action sooner rather than later—time, as always, is of the essence.