12:42 pm - Friday October 31, 2014

An Introduction to Business Intelligence

Business Intelligence is all about taking data and generate benefits for his business. So what this means is the collection of data and transform it into information, knowledge creation, then brings it to people at the right time in the right place and in the right format so they can make better decisions to drive business benefit.

In recent years there have been many acquisitions and mergers in the market for business intelligence tools so that large software vendors have acquired the pure play business intelligence vendors. This is very interesting because there are only a few years the industry has failed to deliver what the companies were asking, but with the acquisition of business tools, enterprises and greater involvement, there is not much more capability in space technology. This resulted in the situation is almost reversed; technology can offer more than most users when they need to start with a business intelligence project.

Thus, if the intelligence business is all about getting data to turn into production information to produce benefit the business, exactly how the information presented? There are several ways in which this information can be formatted to conclude the best decision, and convey that information more knowledge and advantage can be gained by the company. For example, it could be a tabular report or it could be a report with graphics, it can be printed or can be sent by e-mail, you may be given on office products such as Outlook, Excel or Word. It could also be presented through panels, which have an instant overview of the company giving a snap shot in time. Once you have this information scorecards together with red, orange and green making it easier to see your performance target.

Due to the fact that business intelligence is a broad term that is often used in different ways. Part of the intelligence business is the management of performance. Once you have your information clearly and concisely, you need to control how that information is then used and is the ultimate impact on your business. Performance management is the process of monitoring these changes so performance management, including its strategy in business management that you can actually change the behavior of individuals and companies change.

Now that you’ve decided your business needs a business intelligence solution, one of the first things you’ll have to do is get a tool that really allows you to implement this solution. A common mistake that many businesses make is to go to different vendors and getting multiple presentations, making it very easy to engage the technical aspects of different technologies on the market, instead of the overall objectives of the products. Although this does not help to give a good overall objective of all the different technologies and as a result, a good overall objective of the process itself can be a distraction. The most productive course, focuses on exactly what your company needs to achieve from this process, leaving the supplier to help educate you on how you will benefit from the technology in your business.

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