Business Intelligence Applications – An Overview
The rising competition coupled with overflow of data has started to take its toll on the decision making system. In such kind of scenario the key focus of any business strategy is filtering and using relevant data. Today, collecting large amounts of data sourced from diverse channels and laying down boundaries for relevance is the critical requirement of most businesses, regardless of the sector: from banking, hotel industry, to information technology.
What Does Business Intelligence Consultancies Do for Businesses?
The importance of Business Intelligence tools needs no introduction. Businesses cutting across industries are actively using these tools in running their business. But merely using a tool may not offer you the edge that you are looking for in a tech savvy world. What you need is the help of business intelligence consultancies. From helping you choose the right BI tools for your business to training you in making the most out of them such consultancies do a lot. Let us take a look at some of the things that business consultancies do for your business.
Top Tools for Integrating Data by Business Intelligence Systems
Are you out hunting for tools that integrate data business intelligence? It is easier said than done. The market is flooded with large number of tools that help in analysing data and making informed decisions. While every tool has its pros and downsides the choice you make should be based on your needs. However keep the scalability factor in mind as your business requirements is bound to grow and the tool you choose should be able to meet your changing requirements. Here are the top rated tools that help streamline business operations and maximize resource utilization.
Role of Business Intelligence Software in IT Industries
The focus or any modern business is two pronged – improve efficiency and cut costs. Both these help in improving the bottom line and increase the value of a business. Business Intelligence software helps aid in both endeavors. They have made inroads into every industry and helping large and small businesses alike. Information Technology industry have been one of the primary users of these software and being human resource and information centric has earned many dividends. Let us take a look at the role of Business Intelligence software in the IT industry.
Are your Model in Excel Hell
Almost all companies do modelling of some sort in many parts of the business. Sales would probably model their Sales Forecasts and Budgets, Production their buying and stock needs, Services their manpower needs and such like, with the financial people modelling their Budgets, Forecasts and cash-flow needs.
Gaining the Edge over Competitors with Business Intelligence
First let me start off by defining Business Intelligence as defined by Business Journal International Weekly. “Business Intelligence is a set of theories, methodologies, processes, architectures and technologies that transform raw data into meaningful and useful information for business purposes.
Understanding Data Visualization
The term Data Visualization loosely refers to the techniques used to communicate data or information by creating visual objects that are contained in graphics. The end goal is to communicate information clearly and efficiently to users via the information graphics selected, such as tables and charts. In his 1983 book “The Visual Display of Quantitative Information”, Professor Edward Tufte defines ‘graphical displays’ and principles for effective graphical display in the following passage:
How to save money while growing your business – BI is the answer
When thinking about Business Intelligence (BI) for reporting the first thing that comes to mind is, do I need BI for my business and, if so, what sort of BI system do I need? BI is a buzz word at the moment, but does anyone know what it really means?
In short, the higher up the chain of command chain you are, the less you have in respect of stable, documented and sustainable systems to support your information needs. Junior staff normally have great ERP systems that give them everything they need for their job, whereas senior management tend to rely on a multitude of manually-produced spreadsheets that rely on the employees individual skill sets.
Creating Visual Financial Reports
Standard financial reports tend to follow the same template, which is a list of accounts and their totals for the month and year. This information is critical to financial advisors, but the standard report template doesn’t tell us what the values mean. One of the goals of any report is to highlight relevant information so a user can easily see if something’s wrong and take corrective action. Let’s examine two kinds of financial reports and you can decide for yourself which one would make an impact for more stakeholders at your organization.
This report (after the jump) shows a sample income statement for a fictional company. While it displays all of the necessary information, you’d have to read every line item in order to find out that the total income from this month is down 50% from the same time last year. It’s also difficult to differentiate the total from specific line items because the dollar amounts are the same font size and color. With the technology available to finance teams today, this type of boring, ineffective financial report should become a thing of the past.
Top BI Trends Moving into 2015
With 2014 coming to an end faster than anyone could ever imagine, the time to start thinking and planning for 2015 has fast approached us. With the start of a new year comes a number of technology changes to consider. With the following new BI Trends, Business Intelligence (BI) should not be on the long list of things for any organization. While some of these trends are already being implemented, with the potential to expand over the next year, there are a number of proposed changes that could fundamentally shift business processes. Below we will uncover what to expect when looking into BI trends for the year of 2015.
How to Create Responsive Design Applications
Traditionally, one of the first steps to designing a dashboarding or reporting solution is to determine what screen size to use as a basis for layout. Typically, the solution’s layout will be designed to look good on a “standard” laptop. The smaller screen resolution looks a bit small on large monitors, but at least the whole application fits on the page. But that can’t be the ultimate goal, right? The advance of responsive design allows for mobile devices to view the same content, but allows for the application to be scaled up to larger monitors as well. When creating responsive applications, it is important to keep in mind what device is being used to access the solution. This should determine how much and what kind of data to provide the end user.