Business intelligence, or BI, is an umbrella term that refers to a variety of software applications used to analyze an organization’s raw data. BI as a discipline is made up of several related activities, including data mining, online analytical processing, querying and reporting. BI includes a range of applications, which analyze and consolidate seemingly different sets of data. In a bid to improve knowledge base for decision making, businesses, nowadays, rely heavily on BI on a day to day basis.
Data drives modern day business; Business intelligence (BI) convertsdata to usable information and most importantly converts information to knowledge to help drive the alignment of strategy and execution.
Almost every small, midsized, and large business can benefit from BI. Specific issues or scenarios that are good indicators a BI discussion should take place include:
- The need to integrate data from multiple business applications or data sources
- Lack of visibility across company operations, finances, and other areas
- The need to access relevant business data quickly and efficiently
- Increasing volume of users requiring and accessing information and more end-users requiring analytical capabilities
- Rapid company growth, recent, or pending merger/acquisition
- Introduction of new products
- Upgrades within the IT environment
- Inability to maintain competitiveness because of lack of quality information
There are several benefits a BI solution offers to an organization regardless of size:
- Share information efficiently and effectively across the organization. BI makes it easy for everyone from decision-makers to functional teams to access and analyze up-to-date information anytime, anywhere. Everyone throughout the company can make better decisions, faster.
- Empower Organization. Providing employees with access to analytical data that is readily available and understandable allows them to work more effectively and support the overall business strategy.
- Simplify collaboration and sharing and improve alignment with a single source for accurate financial and operational information. Having a single, central location allows you to monitor your key performance indicators (KPIs), access reports, analyze your data, and share documents. All of the functional areas are aligned to articulate strategies, set objectives, and monitor the organization’s performance so you can make better informed and timely decisions that support your overall business strategy.
- Gain insights to understand and analyze your business performance and opportunities on a deeper level. Analyze and evaluate information that is more accessible and easy to interact with to make strategic and tactical decisions.
- Deliver meaningful analysis and reporting. Readily track and analyze KPIs against key business goals to gain a better understanding of how your business is performing today and not when it’s too late to impact performance.
- Have a solution with the scalability and flexibility to grow and change as your organization does. Many companies rely solely on the most widely used BI tool, the Excel spreadsheet. While Excel offers many useful features such as graphs, charts, and pivot tables which assist in decision-making, it doesn’t scale to your business. Also, compiling data from multiple, disparate databases is time-consuming and is prone to errors. However, Excel is still a key component of a total BI solution.
Conflux System specializes in the Business Intelligence domain and provides BI lifecycle managementconsulting and staff augmentation from gathering business requirements to testing and release management.
As business intelligence consultants we provides a design, development and management approach to BI that incorporates business users into the design process and focuses on generating the data models, database objects, data integration mappings and front-end semantic layers directly from the business user input.
Our mission is to work with our client organizations and empower them. The Conflux team engages to address stated business challenges through a combination of best in class technology and Conflux’s value based services around Business Intelliegence.