Future of business Intelligence
Involves using a rational approach to management. Involves a continuous cycle of measurement, adjustment & re-measurement. Stages of 81: Data Sourcing Data Analysis Situation Awareness Risk Analysis Decision Support Objective and Scope. Having access to timely and accurate information for a company, which can expedite decision-making and improve customers’ experience and provide a competitive edge to Customer. Provide a near real time analysis relating to their business, particularly In front line operator. No need for the business user to Walt for Information and information needs to be always on and never out of date.
Future Business Intelligence Trends 1. Cloud Bal Business Intelligence on the cloud promises near 100% uptime and scalability without all the time and money required to maintain in-house hardware. Security is still a big concern for many companies, who don’t trust cloud providers with their private data. A rise in private cloud Bal deployments will be seen. 2. Collaborative Bal Due to the rise of social media, the Internet Is the perfect collaboration platform. This 3. Mobile Bal In the future, Business Intelligence will not be limited by device or location. It will be cross-platform, offering instant access from all smoothness and tablets.
Mobile Bal has to go a step beyond simply building separate mobile APS for smoothness and tablets. It involves creating Bal APS that adapt to the device on which they’re accessed. They must look like a PC application when accessed on a PC, but look completely different (yet native) when accessed on a tablet or smartened. 4. Embedded Bal While traditional Bal is typically a standalone product, embedded Bal integrates analytics and reporting capabilities directly into your everyday business applications. Essentially, embedded Bal brings Bal to the end users, working it into their daily routine.
This approach is far simpler for users, and can lead to better user adoption. 5. Predictive analytics Business intelligence will become more than “What is happening in my business? ” Instead, it will turn into “What will most likely happen in my business based on past data? ” As Bal becomes more powerful, it will be able to analyze multiple data points and use that data to predict future outcomes. Imagine what a powerful tool that could be. What if you could pick up your phone, access your mobile Bal application, ND see the most probable future results? 6.
Intelligent Alerts Once real-time Bal becomes the standard, the next logical step is trigger-based alerts. When data has triggered a pre-defined alert, the Bal app will send an email or text message to the appropriate party. For instance, what if product sales are abnormally low on one day. An intelligent alert can instantly notify you of this abnormality, and may help you stop a problem before it gets out of hand. 7. Open Integration Data will no longer be confined to one or two internal database. Soon, Bal applications ill have to pull data from your database, cloud services, email accounts, social media, the web, and more. . Location-aware As business intelligence moves towards mobile devices, the usefulness of location aware applications increases. For instance, when your salespeople visit customer or prospect sites, a location-aware application could instantly pull up all the customer/ prospect data and correspondence. Future Business Intelligence Tools: Real Time Bal tools: business users to get up-to-the-minute data by directly accessing operational systems or feeding business transactions into a real-time data warehouse and easiness intelligence (81) system.
Real-time Bal can help support instant decision- making, which is necessary, for example, if a company sells clothing online. The company’s website and representatives at the company’s call center need to have the same up-to-the-minute data regarding inventory levels so if a customer places an order and a particular size or color is sold out, the customer can be notified and redirected to another, similar item. A real-time approach isn’t required for every part of a company’s business, however.
Most Bal users can meet their business goals by coking at weekly or monthly business performance numbers and long-term trends such as year-over-year comparisons. Similarly, finance groups aren’t likely to require real-time data to analyze financial metrics or compare actual budgets to forecasts. Because real-time Bal implementations can increase the overall cost of a Bal system, the best practice for organizations is to deploy real-time Bal technology only when it’s absolutely required.
Hoodoo Business Intelligence tools: Hoodoo is an open-source software framework that supports data-intensive distributed applications. It supports the running of applications on large clusters of commodity hardware. Hoodoo was derived from Google’s Unprepared and Google File System (SGF) papers. Over the past 20 years, a number of different data structures and technologies have been introduced to increase performance or enable a Bal capability; many of these are self-service oriented, and they all deliver different levels of capabilities depending on the problem they are intended to solve.
The Hoodoo Distributed File System (HIDES) or Hive is often used to store transactional data in its “raw state. The map-reduce processing supported by these Hoodoo frameworks can deliver great performance. Thus Applications and SQL databases built atop Hoodoo are needed for better Bal. Cloud based Business Intelligence tools: For many years, cloud business intelligence was primarily the domain of startup vendors offering Software as a Service (AAAS) Bal tools as alternatives to the traditional on-premises software sold by the Bal market leaders.
But cloud Bal is becoming more mainstream as increasing numbers of corporate users embrace the cloud computing and AAAS models as part of their business intelligence strategies. Cloud Bill’s potential benefits are similar to those offered by cloud computing technology in general: reduced data center and IT management costs, faster deployment times, increased flexibility as business needs change.
Some of the applications of the cloud in Bal are as follows: Cloud 81: Web Accessible information anywhere, anytime (unlike traditional tools that may be behind a firewall or deployed on premise). Cloud 81: Data visualization Data visualization like charts, gauges, and maps are designed to make it easier to consume Bal information. With a cloud Bal application, these data visualization are resented on a dashboard that is easy to navigate when answers are needed.
Cloud 81: Data Retrieval Today’s data landscape is fragmented and getting the answers you need about your performance may mean checking with a dozen or more data sources. A cloud-based business intelligence solution helps to consolidate those data sources by automating the data retrieval process. Mobile Business Intelligence tools: As the use of smoothness, tablet PC’s and other mobile devices escalates in the workplace, so does the interest in mobile business intelligence applications among report executives, sales teams and other end users.
As a result, Bal managers at more and more companies are evaluating the benefits, cost-effectiveness and challenges of implementing a mobile Bal strategy. Mobile Business Intelligence (Mobile Bal or Mobile Intelligence) is defined as “The capability that enables the mobile workforce to gain business insights through information analysis using applications optimized for mobile devices” Mobile business intelligence applications that offer BI-on-the-go capabilities can increase the productivity of business users, whether they’re in meetings or on the road.
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