Business Intelligence Insights

Business Intelligence development in 2016

Strategic information is often embedded in the volume of data information systems. In addition, these data are sometimes stored unorganized or in unstructured way. The volume of data is growing daily, it is very difficult to treat them and understand their meaning. But access to information, all information, without any delay, that’s what leaders want and that’s what BI is offering. Since past twenty years BI or “Business Intelligence” has seriously made its entry into business. But what is this software solution? Who is it for?

 

In a few words: BI consist to transform data into information in order to predict the future development of any company. This is an IT approach that generates and processes data in order to enable leaders to have a global vision of the results of their business. Those data generated reports provides them a better analysis and understanding of the market. It is a real help in strategic decision making. Gartner findings revealed that the market for BI solutions has an annual growth of 7%.

 

Few years back, the BI was mainly used in financial sector for different departments such as accounting, management control etc. because financial institutions need to support business activities and decisions making in time. But now we all are witnessing a BI technological change and development means providing the opportunity of significant competitive advantage for all organization. Expansion of BI is having such a huge success that now it’s available to any size of organization. Not only in mode but the BI now, is a necessity of all organizations, it represents a real strength of company.

 

Moreover, the growing use of cloud-services clearly indicates that more and more companies choose not to waste their budget in purchase of expensive and complex software. They prefer the affordable price of services available in SaaS mode, simple and quick to implement, without cost to install or setup + access data any moment. These solutions especially have the enormous advantage of being a payback within months.

 

In a company, data presentation tools offered by Business Intelligence are for everyone. Every department will find the tool that suits them best and benefit for its function.

 

  • Management monitors business performance and effectiveness of their strategy via performance indicators presented in dashboards.
  • Analysts literally navigate in information to understand and analyze the highlights of any organization.
  • Finally, employees use structured reports to follow and adapt the day to day operational activities of the company.

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There’s no doubt that the collaboration of these services available in SaaS mode, offers companies the opportunity to create a fluid flow of information. A well-designed BI solution provides a consolidated view of key business data which isn’t available anywhere in the organization, gives management visibility and control over measures that otherwise wouldn’t exist.

 

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