|
'
|
|
|
Vendors and Consultants: Reach your customers and journalists. Click, Submit articles and press release.
|
BOSTON, MA, Feb 13, 2008 -- OpenAir, the world's leading provider of on-demand project management software, has been selected as a finalist for the 2008 SIIA CODiE Awards.
OpenAir has been selected as a CODiE finalist for three consecutive years.
"We are honored to be included yet again among such a diverse and accomplished group of industry leaders," said Morris Panner, CEO of OpenAir. "The CODiE finalists represent the best of the best, and our nomination reflects thousands of hours of hard work by everyone on the OpenAir team." |
|
OpenAir was nominated as a finalist in the "Best Business Software Solution" for its award-winning Professional Services Automation (PSA) solution, designed for consulting and services firms to improve business operations and project management. |
Submitted by saravanan2 on Thu, 2008-03-06 09:49.
|
Bloor Research Product Evaluation Ranks Composite Software as Leading Independent Pure Play in Data Federation
SAN MATEO, Calif. - February 13, 2008 –Composite Software, Inc., a real-time data integration leader, today announced that a product evaluation by Bloor Research finds that Composite maintains a significant market presence in data federation. Further, the analyst firm-- one of the world’s leading IT research, analysis and consultancy organizations--is optimistic about Composite’s future outlook, especially with the imminent release of Composite’s Discovery product, slated for Q2 2008. |
Submitted by scm on Fri, 2008-02-22 12:31.
|
CFO Cockpit, arcplan Excel Analytics and arcPlanning for Optimizing Business Processes
Langenfeld, Germany. February 20, 2008 – At this year’s CeBIT, arcplan will be in the SAP & Partner Forum in Hall 4, Booth D 12 as well as in the Forum BI & EII in Hall 3, booth C 45. At these two booths, visitors will be able to learn about the new Version 5.5 of arcplan Enterprise as well as the CFO Cockpit, arcplan Excel Analytics and arcPlanning solutions, which make up its suite of Enterprise Performance Management products. |
|
arcplan Enterprise 5.5 – New Version Supports Excel Analytics, the arcplan Solution for Integrating Performance Management with Microsoft Office |
Submitted by scm on Fri, 2008-02-22 12:29.
|
New edition of respected independent global survey confirms arcplan is top BI third-party front-end for SAP BW and Applix TM1
Clients’ achievement of business goals: arcplan secures top spot arcplan also commended for number of data sources accessed |
|
Langenfeld, Germany. February 14, 2008 – The 2008 edition of The BI Survey (previously known as The OLAP Survey) once again recognizes arcplan for its success in delivering impactful business performance management solutions to clients with heterogeneous environments, and especially clients with SAP, Oracle/ Hyperion and Applix back-ends. arcplan was also commended for its consistency in delivering successful solutions and ranked #1 among the 30+ products included in the study in terms of clients meeting their project objectives. |
Submitted by scm on Fri, 2008-02-22 12:23.
|
New edition of respected independent global survey confirms arcplan is top BI third-party front-end for SAP BW and Applix TM1
Clients’ achievement of business goals: arcplan secures top spot arcplan also commended for number of data sources accessed |
|
Langenfeld, Germany. February 14, 2008 – The 2008 edition of The BI Survey (previously known as The OLAP Survey) once again recognizes arcplan for its success in delivering impactful business performance management solutions to clients with heterogeneous environments, and especially clients with SAP, Oracle/ Hyperion and Applix back-ends. arcplan was also commended for its consistency in delivering successful solutions and ranked #1 among the 30+ products included in the study in terms of clients meeting their project objectives. |
Submitted by scm on Fri, 2008-02-22 12:23.
|
Market Snapshot Says Global BI Leader is Innovative, Helps Customers Maximize BI Investment
TORONTO, ON (February 12th, 2008) – Panorama Software, a global leader in Proactive Business Intelligence solutions, today announced that the company has been favorably categorized in the recent Gartner Magic Quadrant as a compelling BI solution for customers who are looking for a front-end solution that runs on SAP NetWeaver, Microsoft SQL Server and Essbase. |
|
“In a year of dramatic consolidations in the BI industry, we are pleased with the Gartner results,” said Oudi Antebi, VP Marketing and Strategy, Panorama Software. “Panorama shows impressive continued momentum, and will remain aggressive in touting our strengths to new markets and increasing innovation in support of a variety of platforms.” |
Submitted by scm on Fri, 2008-02-22 12:21.
|
McLean, Va., February 14, 2008 – MicroStrategy® Incorporated (Nasdaq: MSTR), a leading worldwide provider of Business Intelligence software, today announced that Lund Food Holdings has selected MicroStrategy for sales and financial reporting. Lund Food Holdings owns and operates upscale supermarkets in the Minneapolis-St. Paul region. |
|
Store general managers and merchandising personnel at Lund Food Holdings plan to use MicroStrategy for greater insights into product sales at the company’s 21 locations. MicroStrategy-based BI applications will provide Lund Food Holdings’ financial analysts with visibility into the company’s business and financial operations. A new MicroStrategy customer, Lund Food Holdings selected MicroStrategy for its comprehensive platform, open system flexibility, and powerful analytics that will enable users to make data-driven decisions to improve store operations and financial performance. |
Submitted by scm on Fri, 2008-02-22 12:20.
|
Enables joint customers to:embed intelligence into automated business processes gain visibility into processes executing in JBoss jBPM in real time improve automated process performance by up to 900%
JBoss World (Orlando, Fla.) —February 14, 2008—SeeWhy Software, the creator of the first event intelligence platform, today announced an expansion of its relationship with JBoss, a division of Red Hat, Inc., through tighter integration of SeeWhy with the JBoss service-oriented architecture (SOA) platform. In addition, SeeWhy has become a JBoss Advanced Partner. |
|
Following demand from the JBoss community, SeeWhy has been working with JBoss to build tight integration between the companies’ products, specifically to provide real-time visibility and exception detection at runtime for JBoss jBPM processes. SeeWhy customers have achieved up to a 900% increase in performance by embedding event intelligence into processes. In short, the processes become much more intelligent by “self tuning” each process instance to optimize performance. |
Submitted by scm on Fri, 2008-02-22 12:16.
|
McLean, Va., February 20, 2008 – MicroStrategy® Incorporated (Nasdaq: MSTR), a leading worldwide provider of Business Intelligence software, today announced that Silverton Casino Lodge has selected MicroStrategy’s Dynamic Enterprise Dashboards™ for improved insights into its business performance.
Using MicroStrategy’s expressive dashboards, Silverton business analysts will be able to quickly analyze multiple areas of the business, including marketing promotions and casino operations. Silverton, a new MicroStrategy customer, plans to provide its users with daily reports and dashboards for greater Insight into key performance measures across the company. MicroStrategy’s integrated BI platform, easy-to-use Web interface, and Dynamic Enterprise Dashboards will enable Silverton employees to view large volumes of data in a highly interactive way to help them make timely, data-driven decisions. |
Submitted by scm on Fri, 2008-02-22 12:10.
|
Chicago, IL - February 15th, 2008 - Integrify Software, Inc., a leading provider of Enterprise Request Management (ERM) software, announced that First City Monument Bank, the first bank established without government support in Nigeria, has chosen its Integrify 4.5 request management solution to automate tasks in the administrative & logistics, IT, central processing center, enterprise risk management, and financial control departments. |
|
"We chose Integrify because it was recommended to us by our solution partners in Belgium as easy to understand and use, and provided an almost immediate return on investment," said Olubunmi Ajiobye, business process improvement, FCMB. |
Submitted by scm on Fri, 2008-02-22 11:18.
|
Unique benefits extend from president to faculty
CARY, NC (Feb. 12, 2008) – Des Moines Area Community College (DMACC) is using software from SAS, the leader in business intelligence, to improve institutional effectiveness, boost student retention and assess program contributions to student success. DMACC produces voluminous data from nearly 60,000 students at six campuses. Previously, producing data driven reports for specific users was inefficient and time-consuming. The Institutional Effectiveness Office chose SAS® data integration, Business Intelligence (BI) and predictive analytics to gather and analyze data and provide timely and accurate reports organizationwide. |
Submitted by scm on Fri, 2008-02-22 11:18.
|
"Load and go," linear scalability, low TCO key to Kognitio's WX2 RDBMS; leading Business Intelligence analysts praise Kognitio approach
LAS VEGAS, February 18, 2008 -- Kognitio, a leading global provider of Business Intelligence (BI) and data warehousing solutions, today announced its entry into the North American market, where it will make its WX2 analytical relational database management system (RDBMS) available to companies seeking to rapidly gain competitive Insight from enterprise-wide data assets. The announcement made at the start of The Data Warehousing Institute's World Conference being held this week in Las Vegas, where Kognitio is an exhibiting vendor. |
Submitted by scm on Fri, 2008-02-22 11:10.
|
Latest edition of corporate performance management solution provides comprehensive planning, reporting and analysis for the legal industry
TORONTO, ON February 20, 2008 -- Clarity Systems, a leader in corporate performance management (CPM) solutions, today announced the launch of Clarity 6 Legal Edition 2.0, a newly enhanced budgeting, planning, and reporting software solution for professional services organizations. |
|
With new functionality and features, Clarity 6 Legal Edition 2.0 has sophisticated capabilities that extend beyond budgeting to include financial variance reporting and analysis. Variance analysis of data such as billings, expenses, compensation and hours at the timekeeper level are now easily accessed and compared in real time. This offers professionals the flexibility to conduct variance analysis and reporting across multiple scenarios or over periods of time. Clarity 6 Legal Edition 2.0 also allows users to drill down from a report to a single transaction and view invoice/expense details or attach user commentary to a specific field. |
Submitted by scm on Fri, 2008-02-22 11:10.
|
14 Jan08 Bangalore, India -- In the recently concluded event, Asia Retail Congress 2008 in Mumbai, Manthan Systems, a leading provider of Technology solutions for retail analytics and Business Intelligence (BI), emphasized to Asian retailers the importance of competing with analytics. |
|
Citing examples of fast growing Asian retail industries that are getting increasingly competitive with new players, new formats and new strategies, Manthan's Managing Director and Chief Executive Officer, Atul Jalan said,
"Retailers may be faced with more challenges than they can handle, sooner than they thought possible. Having the right investments today can help retailers keep up and stay ahead of competition tomorrow. For any retailer in this race, analytics and Business Intelligence is one of the most important strategic levers they can use to steer their business going forward." |
Submitted by scm on Fri, 2008-02-22 11:09.
|
LANHAM, MD (February 12, 2008) — Pitney Bowes Group 1 Software today introduced release 6.5 of Sagent Data Flow™, the only data management solution that offers both ETL (Extract, Transform and Load) and BI (Business Intelligence) in a single integrated product. Sagent Data Flow v6.5 is equipped with a new user interface and enterprise-class capabilities designed to improve development productivity, enhance Compliance reporting and facilitate global adoption across the enterprise. |
|
Enterprises increasingly need to integrate disparate data stored on various systems across their IT infrastructure. With Sagent Data Flow v6.5, organizations can consolidate data into a singular, viewer-friendly format that can be easily interpreted by an end-user to perform Business Intelligence analysis and generate comprehensive reports. By mining data that is stored in different storage and database environments, Sagent Data Flow addresses the EII (Enterprise Information Integration) and BI needs of organizations of any size and in any industry. |
Submitted by scm on Fri, 2008-02-22 11:08.
|
28 Jan08 Bangalore, India -- Manthan concluded a splendid NRF 2008 where it showcased its popular ARC Retail Business Intelligence solution. It was a grand annual celebration of Manthan and its ecosystem, highlighting the 2007 achievements of several new customers, an expanded partner network, and cutting edge BI innovation in ARC. |
|
It was a great start to 2008 with several new relationships underway, and Manthan seeing a tremendous response to its leading retail Business Intelligence solution.
On of the themes in the event was focused on the impact of the slowdown in the US economy. The AMR Research NRF 2008 speaks how the "Dark Economic Clouds Failed to Dampen Retailers' Technology Spending Moods". |
Submitted by scm on Fri, 2008-02-22 11:08.
|
TIBCO Spotfire DXP helps Cenix scientists provide fast and accurate analysis of complex data sources
Somerville, Mass. - February 12, 2008 -Spotfire, a division of TIBCO Software Inc. (NASDAQ: TIBX), today announced that Cenix BioScience, the leading specialist in advanced RNA interference (RNAi)-based research services, is using the TIBCO Spotfire DXP™ 2.0 enterprise analytics platform to simplify analysis and deliver faster research to leading international pharmaceutical and biotechnology companies, and academic laboratories worldwide. |
|
"With the TIBCO Spotfire DXP enterprise analytics platform, we can offer our clients faster and more accurate results because our scientists have the ability to mine these complex datasets much faster and in more depth, ask and answer questions on demand, pull information from multiple data sources and integrate new information as it becomes available, said Maria Mirotsou, Group Leader, Cenix BioScience GmbH. “The higher level of validation afforded by our multi-parametric assays allows us to offer superior predictive value regarding the future therapeutic potential of drug candidates developed.” |
Submitted by scm on Fri, 2008-02-22 10:52.
|
Spanish and Andalusia Government build infrastructure, education and awareness for Life Sciences in Southern Spain
SOMERVILLE, Mass., - February 19, 2008 – Spotfire, a division of TIBCO Software Inc. (NASDAQ: TIBX), today announced that the company is joining forces for the development of a genomics platform for the Region of Andalusia in Spain. Integromics, a provider of state-of-the-art software solutions for data management and data analysis in Genomics, Proteomics and Drug Discovery, has been selected to create the platform, which is funded by the Governments of Spain and Andalusia, in efforts to build support for Life Science practices throughout southern Spain. The University of Malaga and the University of Córdoba will be responsible for the coordination of the platform. |
Submitted by scm on Fri, 2008-02-22 10:52.
|
TIBCO Spotfire DXP helps Cenix scientists provide fast and accurate analysis of complex data sources
Somerville, Mass. – February 12, 2008 – Spotfire, a division of TIBCO Software Inc. (NASDAQ: TIBX), today announced that Cenix BioScience, the leading specialist in advanced RNA interference (RNAi)-based research services, is using the TIBCO Spotfire DXP™ 2.0 enterprise analytics platform to simplify analysis and deliver faster research to leading international pharmaceutical and biotechnology companies, and academic laboratories worldwide. |
|
"With the TIBCO Spotfire DXP enterprise analytics platform, we can offer our clients faster and more accurate results because our scientists have the ability to mine these complex datasets much faster and in more depth, ask and answer questions on demand, pull information from multiple data sources and integrate new information as it becomes available", said Maria Mirotsou, Group Leader, Cenix BioScience GmbH. "The higher level of validation afforded by our multi-parametric assays allows us to offer superior predictive value regarding the future therapeutic potential of drug candidates developed." |
Submitted by scm on Fri, 2008-02-22 10:48.
|
Spanish and Andalusia Government build infrastructure, education and awareness for Life Sciences in Southern Spain
Somerville, Mass. – February 19, 2008 – Spotfire, a division of TIBCO Software Inc. (NASDAQ: TIBX), today announced that the company is joining forces for the development of a genomics platform for the Region of Andalusia in Spain. Integromics, a provider of state-of-the-art software solutions for data management and data analysis in Genomics, Proteomics and Drug Discovery, has been selected to create the platform, which is funded by the Governments of Spain and Andalusia, in efforts to build support for Life Science practices throughout southern Spain. The University of Malaga and the University of Córdoba will be responsible for the coordination of the platform. |
Submitted by scm on Fri, 2008-02-22 10:48.
|
TIBCO ActiveMatrix™ Platform-Independent Approach Delivers Up To 49 Percent Greater Productivity Compared to Oracle, IBM, and BEA
Rome, February 19, 2008 – TIBCO Software Inc. (NASDAQ: TIBX) today announced that a study conducted by PushToTest, the open-source test automation company, identified TIBCO ActiveMatrix™ as the most productive platform for implementing a service-oriented architecture (SOA). The study, entitled "The Composition Approach for Large-Scale SOA," analyzes the leading SOA vendors by implementing and changing a reference service-oriented application using each vendor's technologies. It reveals that compared to the application server-centric approaches to SOA offered by Oracle, IBM and BEA, TIBCO's platform-independent approach can accelerate time-to-market and reduce labor costs by up to 49 percent when building and deploying services and assembling composite applications. |
Submitted by scm on Fri, 2008-02-22 10:47.
|
B2B Advertisers Learn to Use Search Marketing to Better Understand Their Buyers
OREM, Utah – Feb. 13, 2008 – Omniture, Inc. (NASDAQ:OMTR), a leading provider of online business optimization software, today announced the newest addition to the Marketing Experts On-Demand Webinar series titled, “SEM Insights into B2B Buyers: Using Search to Understand Your Sales Cycle.” The webinar features Gord Hotchkiss, president and CEO of Enquiro Search Solutions, one of North America’s leading Search engine marketing agencies. Hotchkiss shares survey results, eye-tracking studies, and working models about how to use SEM to identify B2B buyer types and leverage the sales cycle. |
Submitted by scm on Fri, 2008-02-22 10:44.
|
Leading Children’s Entertainment Producer Uses Web Analytics to Gauge the Performance of Flash-Based Applications Across 50 Web Properties
OREM, Utah – Feb. 14, 2008 — HIT Entertainment, one of the world’s leading independent children’s entertainment producers and rights owners, has selected Omniture, Inc. (NASDAQ: OMTR), a leading provider of online business optimization software, to measure how HIT’s audience interacts with the company’s 50 online properties. HIT will use Omniture Web analytics to better understand the performance of flash-based games, activities, stories and videos available on popular Web sites including www.barney.com, www.bobthebuilder.com and www.thomasandfriends.com. |
Submitted by scm on Fri, 2008-02-22 10:38.
|
Chelmsford, MA - February 20, 2008 - Datawatch Corporation (NASDAQ-CM: DWCH), a leader in Enterprise Information Management (EIM), today announced Mike Urbonas will co-present “Business Intelligence without Business Intelligence Tools: Transforming Existing ERP Reports into Actionable Data” with Mike Spielman of Esselte Corporation at the 2008 AIIM International Exposition and Conference. The Presentation will take place on March 6, 2008 at 2:30 PM EST and will discuss how Esselte used report mining to rapidly implement an enterprise dashboard at a fraction of the cost and time of leading ERP or Business Intelligence solutions. |
Submitted by scm on Fri, 2008-02-22 10:35.
|
February 11, 2008
SAN JOSE, Calif. & PARIS & WALLDORF, Germany--Business Objects (NASDAQ:BOBJ), an SAP company (NYSE:SAP) and the world’s leading provider of business performance optimization solutions, today announced that it has been positioned in the leaders quadrant in Gartner, Inc.'s latest “Magic Quadrant for Business Intelligence Platforms1” report, published February 1, 2008. |
|
According to Gartner, "Leaders are vendors that are reasonably strong in the breadth and depth of their BI platform capabilities, and can deliver on enterprise-wide implementations that support a broad BI strategy. Leaders articulate a business proposition that resonates with buyers, supported by the viability and operational capability to deliver on a global basis.” |
Submitted by scm on Fri, 2008-02-22 10:34.
|
|
|
Business intelligence (BI) is a business management term which refers to applications and technologies which are used to gather, provide access to, and analyze data and information about company operations. Business intelligence systems can help companies have a more comprehensive knowledge of the factors affecting their business, such as metrics on sales, production, internal operations, and they can help companies to make better business decisions. Business Intelligence should not be confused with competitive intelligence, which is a separate management concept.
Rationale for using BI
Business intelligence applications and technologies can enable organizations to make more informed business decisions, and they may give a company a competitive advantage. For example, a company could use business intelligence applications or technologies to extrapolate information from indicators in the external environment and forecast the future trends in their sector. Business intelligence is used to improve the timeliness and quality of information and enable managers to better understand the position of their firm in comparison to its competitors.
Business intelligence applications and technologies can help companies analyze the following: changing trends in market share, changes in customer behavior and spending patterns, customers' preferences, company capabilities and market conditions. Business intelligence can be used to help analysts and managers determine which adjustments are most likely to affect trends.
BI systems can help companies develop consistent and "data-based" business decisions--producing better results than basing decisions on "guesswork." In addition, business intelligence applications can enhance communication among departments, coordinate activities, and enable companies to respond more quickly to changes (e.g., in financial conditions, customer preferences, supply chain operations, etc.). When a BI system is well-designed and properly integrated into a company's processes and decision-making process, it may be able to improve a company's performance. Having access to timely and accurate information is an important resource for a company, which can expedite decision-making and improve customers' experience.
In the competitive customer-service sector, companies need to have accurate, up-to-date information on customer preferences, so that the company can quickly adapt to their changing demands. Business Intelligence enables companies to gather information on the trends in the marketplace and come up with innovative products or services in anticipation of customer's changing demands. Business Intelligence applications can also help managers to be better informed about actions that a company's competitors are taking. As well, BI can help companies share selected strategic information with business partners. For example, some businesses use BI systems to share information with their suppliers (e.g., inventory levels, performance metrics, and other supply chain data).
BI systems can also be designed to provide managers with information on the state of economic trends or marketplace factors, or to provide managers with in depth knowledge about the internal operations of a business.
BI Technologies
For the BI technology system to work effectively, companies address the need to have a secure computer system which can specify different levels of user access to the data 'warehouse', depending on whether the user is a junior staffer, manager, or executive. As well, a BI system needs to have sufficient data capacity, a plan for how long data will be stored (data retention). Analysts also need to set benchmark and performance targets for the system.
Business intelligence analysts have developed software tools to gather and analyze large quantities of unstructured data, such as production metrics, sales statistics, attendance reports, and customer attrition figures. Each BI vendor typically develops Business Intelligence systems differently, to suit the demands of different sectors (e.g., retail companies, financial services companies, etc.).
Business intelligence software and applications includes a range of tools. Some BI applications are used to analyze performance, projects, or internal operations, such as AQL - Associative Query Logic; Scorecarding; Business activity monitoring; Business Performance Management and Performance Measurement; Business Planning; Business Process Re-engineering; Competitive Analysis; User/End-user Query and Reporting;Enterprise Management systems; Executive Information Systems (EIS); Supply Chain Management/Demand Chain Management; and Finance and Budgeting tools.
Other BI applications are used to store and analyze data, such as Data mining (DM), Data Farming, and Data warehouses;Decision Support Systems (DSS) and Forecasting; Document warehouses and Document Management;Knowledge Management; Mapping, Information visualization, and Dashboarding; Management Information Systems (MIS);Geographic Information Systems (GIS); Trend Analysis; Software as a service (SaaS) Business Intelligence offerings (On Demand)- similar to traditional BI solutions but software is hosted for customers by a provider.[1] ;Online Analytical Processing (OLAP) and multidimensional analysis; sometimes called "Analytics" (based on the "hypercube" or "cube"); Real time business intelligence;Statistics and Technical Data Analysis; Web Mining, Text mining and Systems intelligence.
Other BI applications are used to analyze or manage the "human" side of businesses, such as Customer Relationship Management (CRM) and Marketing tools and Human Resources applications.Web Personalization For examples of implemented Business Intelligence systems, see the BI screenshot collection at The Dashboard Spy.
History
Sun Tzu's The Art of War highlighted the importance of collecting and analyzing information. Sun Tzu claimed that to succeed in war, a general should have full knowledge of his own strengths and weaknesses and full knowledge of the enemy's strengths and weaknesses. Lack of either one might result in defeat.
Prior to the start of the Information Age in the late 20th century, businesses had to collect data from non-automated sources. Businesses then lacked the computing resources to properly analyze the data, and as a result, companies often made business decisions primarily on the basis of intuition.
As businesses started automating more and more systems, more and more data became available. However, collection remained a challenge due to a lack of infrastructure for data exchange or to incompatibilities between systems. Analysis of the data that was gathered and reports on the data sometimes took months to generate. Such reports allowed informed long-term strategic decision-making. However, short-term tactical decision-making continued to rely on intuition.
In modern businesses, increasing standards, automation, and technologies have led to vast amounts of data becoming available. Data warehouse technologies have set up repositories to store this data. Improved Extract, transform, load (ETL) and even recently Enterprise Application Integration tools have increased the speed of collecting the data. OLAP reporting technologies have allowed faster generation of new reports which analyze the data. Business intelligence has now become the art of sifting through large amounts of data, extracting pertinent information, and turning that information into knowledge upon which actions can be taken.
Business intelligence software incorporates the ability to mine data, analyze, and report. Some modern BI software allow users to cross-analyze and perform deep data research rapidly for better analysis of sales or performance on an individual, department, or company level. In modern applications of business intelligence software, managers are able to quickly compile reports from data for forecasting, analysis, and business decision making.
In 1989 Howard Dresner, a Research Fellow at Gartner Group popularized "BI" as an umbrella term to describe a set of concepts and methods to improve business decision-making by using fact-based support systems. Dresner left Gartner in 2005 and was with Hyperion Solutions as its Chief Strategy Officer through May 2007.
The Future of Business Intelligence
In this rapidly changing world consumers are now demanding quicker more efficient service from businesses. To stay competitive, companies must meet or exceed the expectations of consumers. Companies will have to rely more heavily on their business intelligence systems to stay ahead of trends and future events. Business intelligence users are beginning to demand Real time Business Intelligence or near real time analysis relating to their business, particularly in front line operations. They will come to expect up to date and fresh information in the same fashion as they monitor stock quotes online. Monthly and even weekly analysis will not suffice. "Business users don't want to wait for information. Information needs to be always on and never out of date. This is the way we live our lives today. Why should Business Intelligence be any different?" Charles Nicholls, CEO of SeeWhy, a Software company, Windsor UK.
In the not too distant future companies will become dependent on real time business information in much the same fashion as people come to expect to get information on the internet in just one or two clicks. "This instant "Internet experience" will create the new framework for business intelligence, but business processes will have to change to accommodate and exploit the real-time flows of business data." -- Nigel Stokes, CEO, DataMirror Corp., Toronto
"BI 2.0" is the recently-coined term which is part of the continually developing Business Intelligence industry and heralds the next step for BI. "BI 2.0" is used to describe the acquisition, provision and analysis of "real time" data, the implication being that earlier Business Intelligence and Data Mining products (BI 1.0?) have not been capable of providing the kind of timely, current data end-users are now clamoring to have. Realizing that hype has historically outpaced reality as Business Intelligence software companies compete for marketshare, it would be wise to keep in mind the observation of veteran analyst Andy Hayler as they now begin to describe their products in terms of the "real time" and "BI 2.0" nomenclature.
Hayler recently wrote the following in an article titled, "Real Time BI - Get Real":"I permitted myself a wry smile when I first heard the hype about 'real time' business intelligence". Hayler then goes on to explain, "The mismatch between fantasy and reality is driven by two factors. The first is that business rules and structures (general ledgers, product classification, asset hierarchies, etc.) are not in fact uniform, but are spread out among many disparate transaction system implementations...The second problem is that the landscape of business structures is itself in constant flux, as groups reorganize, subsidiaries are sold or new companies acquired".
As long as Business Intelligence relies upon some kind of data warehouse structure (including web-based virtual data "warehouses"), data will have to be converted into what Hayler calls "a lowest common denominator consistent set." When it comes to dealing with multiple, disparate data sources and the constantly changing, often volatile, business environment which requires tweaking and restructuring of IT systems, getting BI data in a genuinely true, "real time" format remains, again according to Hayler, "a pipe dream...As long as people design data models and databases the traditional way, you can forget about true 'real-time' business intelligence across an enterprise: the real world gets in the way".
In the near future business information will become more democratized where end users from throughout the organization will be able to view information on their particular segment to see how it's performing. In the future, the capability requirements of business intelligence will increase in the same way that consumer expectations increase. It is therefore imperative that companies increase at the same pace or even faster to stay competitive.
The remainder of this article may require cleanup to meet Wikipedia's quality standards.
Please discuss this issue on the talk page, or replace this tag with a more specific message. This article has been tagged since June 2006.
Key Intelligence Topics
Business intelligence often uses Key performance indicators (KPIs) to assess the present state of business and to prescribe a course of action. Prior to the widespread adoption of computer and web applications, when information had to be manually inputted and calculated, performance data was often not available for weeks or months. Recently, banks have tried to make data available at shorter intervals and have reduced delays. The KPI methodology was further expanded with the Chief Performance Officer methodology which incorporated KPIs and root cause analysis into a single methodology.
Businesses that face higher operational/credit risk loading, such as credit card companies and "wealth management" services often make KPI-related data available weekly. In some cases, companies may even offer a daily analysis of data. This fast pace requires analysts to use IT systems to process this large volume of data.
Designing and implementing a business intelligence program
When implementing a BI programme one might like to pose a number of questions and take a number of resultant decisions, such as:
Goal Alignment queries: The first step determines the short and medium-term purposes of the programme. What strategic goal(s) of the organization will the programme address? What organizational mission/vision does it relate to? A crafted hypothesis needs to detail how this initiative will eventually improve results / performance (i.e. a strategy map).
Baseline queries: Current information-gathering competency needs assessing. Does the organization have the capability of monitoring important sources of information? What data does the organization collect and how does it store that data? What are the statistical parameters of this data, e.g. how much random variation does it contain? Does the organization measure this?
Cost and risk queries: The financial consequences of a new BI initiative should be estimated. It is necessary to assess the cost of the present operations and the increase in costs associated with the BI initiative? What is the risk that the initiative will fail? This risk assessment should be converted into a financial metric and included in the planning.
Customer and Stakeholder queries: Determine who will benefit from the initiative and who will pay. Who has a stake in the current procedure? What kinds of customers/stakeholders will benefit directly from this initiative? Who will benefit indirectly? What are the quantitative / qualitative benefits? Is the specified initiative the best way to increase satisfaction for all kinds of customers, or is there a better way? How will customers' benefits be monitored? What about employees,... shareholders,... distribution channel members?
Metrics-related queries: These information requirements must be operationalized into clearly defined metrics. One must decide what metrics to use for each piece of information being gathered. Are these the best metrics? How do we know that? How many metrics need to be tracked? If this is a large number (it usually is), what kind of system can be used to track them? Are the metrics standardized, so they can be benchmarked against performance in other organizations? What are the industry standard metrics available?
Measurement Methodology-related queries: One should establish a methodology or a procedure to determine the best (or acceptable) way of measuring the required metrics. What methods will be used, and how frequently will the organization collect data? Do industry standards exist for this? Is this the best way to do the measurements? How do we know that?
Results-related queries: Someone should monitor the BI programme to ensure that objectives are being met. Adjustments in the programme may be necessary. The programme should be tested for accuracy, reliability, and validity. How can one demonstrate that the BI initiative (rather than other factors) contributed to a change in results? How much of the change was probably random?.
|
