Business Intelligence Consulting and Solutions
The goal of business intelligence is to take your data and turn it into a company value. So, taking data and converting it into information, building knowledge, and then getting it out to people at the right time, in the right place, in the right format, so they can make better business decisions, is what this entails.
In the last few years, there have been lots of acquisitions and mergers in the business intelligence tools market, so the large software vendors have acquired the pure-play business, intelligence providers. This is fascinating since only a few years ago, the sector was unable to supply what businesses demanded, but with the acquisition of tools by businesses and the involvement of larger firms, the technological area now has a lot more capability. As a result, the situation has nearly flipped; technology can now give far more than most people require when starting a business intelligence project.
So, if business intelligence is all about gathering data and turning it into useful information for business purposes, how is that data presented? There are several ways that information can be presented to make the best decision and to transfer that information so that the business can obtain more knowledge and benefit. It may be a tabular report or a report with graphics, it could be printed or delivered through email, and it could be presented using Microsoft Office programs like Outlook, Excel, or Word. It could also be provided via dashboards, which provide an instantaneous perspective of the business and a snapshot in time. Once you've got this information you would have scorecards put together with red, amber, and green making it easier to see your performance to target.
Because business intelligence is such a broad term, it's frequently utilized in a variety of ways. Performance management is a component of business intelligence. After you've organized your data in a clear and straightforward style, you'll need to keep track of how it's being used and how it affects your business. Performance management is the process of tracking these changes so by encompassing performance management into your business management strategy you can change people's behavior and change business.
Now you've decided your business needs a business intelligence solution, one of the first things you're going to have to do is procure a tool to allow you to implement that solution. A common mistake a lot of companies make is going to different vendors and getting several presentations, by doing this it's too easy to get wrapped up in the technicalities of the different technology on the market rather than the overall objectives of the products. Although this helps to provide a solid overall aim for all of the different technologies, and thus a good overall objective for the process itself, it can be distracting. Focusing on exactly what your organization wants to achieve from this process and allowing your vendor to help educate you on how you'll profit from technology within your business is the most productive approach.
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