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Differences Between Off-the-Shelf and Custom BI Solutions

If you’re trying to decide between an off-the-shelf business intelligence tool and a custom business intelligence solution, you’ve come to the right place. Business intelligence has grown by leaps and bounds in the past two decades. In the early days, users harnessed BI to help them marry complex SQL queries and MS Excel. Today, BI software has a growing number of self-service, user friendly functionalities. Not surprisingly, it has become a much sought after go-to for reporting and analytics. At the same time, there can still be a pretty big gap between......

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Why Your Company Needs a Data Warehouse

If you’re not someone who is fully up to speed on why a data warehouse is important, we wanted to take a few paragraphs to help walk you through it. The term data warehouse gets thrown around a lot these days. It’s a hot topic within industry newsletters. You may have read it online. In some cases, you may have heard your employees and colleagues discussing it. If you’re among those who have little understanding of what the term means, you’re not alone. Understanding what a data warehouse is To put it......

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How Big Data Can Benefit Your Organization

Like it or not, Big Data is here to stay.  If your business isn’t taking advantage of it, you’re missing out on lucrative growth opportunities. If you don’t know what Big Data is, well, maybe we should start there. Big Data defined If you were to combine all the tools and processes that are related to managing and utilizing your data sets, that combo would be known as Big Data. The concept was born out of a widespread need for businesses, just like yours, to understand patterns, preferences and trends in the......

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How data automation can impact business and workflow

The days of paper-based offices are a thing of the past. Considering you’re no longer doing your accounting by hand, if you haven’t started to automate your data, you should be. Why? Because digital workflows and real-time analytics can also help improve your bottom line. In today’s world data automation has replaced manual processes because it integrates tools and it automates handoffs. It also replaces other types of repetitive tasks, which will help your office run more effectively. Your employees will have more time to focus on what’s important If your employees......

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How Data Automation Will Impact the Insurance Industry

Data automation is having a big impact across all industries. Manufacturers are using Big Data to help improve their yields, the pharmaceutical industry is using big data to increase productivity and businesses are using data automation to help with things such as automated ordering and client analytics. It shouldn’t be at all surprising that the insurance industry stans to benefit from data automation, as well. Tangible impact Experts believe there are several key ways in which data automation will impact the insurance industry. First, the use of technology can help with things......

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Growing Your Business with Business Intelligence

Regardless as to whether you’re a mid-sized business owner who is wanting to find new ways to expand, or if you’re a C-Suite executive who has been tasked with finding a way to grow your business through the use of business intelligence, you’ve come to the right place. Simply stated, business intelligence is roughly the same thing as business analytics When you begin to pay close attention to data you currently have, along with the data you plan to collect in the future, this will allow you to begin to make decision......

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How to Monetize Customer Data

In today’s world companies throughout the world are collecting more client data than they ever have before—yet many companies have failed to recognize (and leverage) it’s value. Yes, you have a ton of customer data, but do you really know what to do with it? You likely already know that customer data is an integral component of managing your relationship with your client; it can help you enhance their experience as a customer and it allows you to improve the quality of your service. Data helps you upsell and it can also......

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DIY Business Intelligence

Business Intelligence is an all-encompassing term that refers to all activities and best practices necessary for a business to turn data into actionable knowledge. BI includes-primarily- data warehousing, analytics, reporting and visualization. Data warehousing is the collating of integrated disparate data sources into one centralized repository. Analytics is the systematic exploration of your company’s data, within the data warehouse. Or to put it in simpler terms, figuring out what you know, don’t know and need to know within the scope of your company’s existence. The main aim of business intelligence is to......

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data analytics

Analytics is a wave from the future. Terms like Business Intelligence and Big Data are becoming as common as “supply”, “market analysis” etc. Clearly, analytics is here to stay and you/your company should join the bandwagon- if you haven’t yet. Wikipedia defines analytics as, “The discovery, interpretation, and communication of meaningful patterns in data.” Further definitions state, “Analytics is the systematic computational analysis of data.” When it comes to best practices when starting or growing a business, analytics will soon be added to the list in conjunction with “understanding your customers”. In......

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WHAT COULD GO WRONG WHEN YOU INVEST IN BUSINESS INTELLIGENCE?

The implementation of Business Intelligence by a company is one that is exciting and difficult. It must be approached with utmost care and given the highest possible consideration. A lot can go wrong but to understand BI implementation here are the steps taken to integrate a BI system, which may vary depending on the needs of the clients, but the main parameters that are common across the board are: Analytics requirements This determines the needs for the BI system to be implemented. The tools and services which are necessary to achieve the......

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