Business intelligence is all about gathering information to access and influence business decision making. There are several additional trends together with ‘big data’ that are shaping the BI world: collaboration, Cloud BI, in memory technologies, mobile BI, self service BI and dashboards.
Self Service BI
Self service BI allows end users to make personalized reports and analytics. This allows the freeing of IT staff to focus on other matters which will improve the speed of decision-making. This is because self service software can be used by personnel that are not particularly technically minded.
This approach increases the reach and depth of BI applications to focus a wider range of business needs and problems. Self service BI must support IT staff’s need for collaborative decision-making. IT staff must be more self reliant by encouraging a BI environment that is more usable and more consumable.
Mobile business intelligence (BI) is the capability to garner business essential information on all mobile devices, like smart-phones, notebooks and tablets. Mobile BI has been around since the mobile phone first came into being, but only lately has it become much more popular in improving the speed of decision making. This is because of huge improvements to mobile technology and increased use of mobile phones in commerce throughout all industrialized countries.
Big Data has the ability to improve the speed of decision making by utilizing huge amounts of structured and unstructured data. This may well include social media messages which can provide lots of valuable insights.
The cloud is a serious option which should not be underestimated. Cloud BI is used to gather BI related information like dashboards, KPIs, and key business metrics. The main advantage of a Cloud BI is that it does not need additional software or hardware; personnel simply go to a specific URL and enter a login and access BI information. Cloud BI is also seen as a more cost effective and faster to implement option for businesses when considering a business intelligence strategy.
Business has seen many changes which have included improvements in Internet technology. This has given way to the rise of mobile and social media. This has increased the focus on collaboration, and business intelligence. BI isn’t new but what is new is the volume of data that these systems must now simulate to help provide important business insights. The big change now is that companies are developing ways to turn data into insight.
In Memory Technology
There are lots of different opinions about what in memory technology is. It is basically a database management system that first relies on the computer’s main memory for data storage. This is an alternative to a database management system that uses disk storage. This improves the speed of decision-making because main memory databases are much quicker than storage disk databases. There are fewer CPU instructions due to internal optimization. It is also quicker to retrieve data. This provides extremely fast analytics for running data-centric enterprise applications in the cloud.
All the above business intelligence practices used combined in a Cloud BI environment can greatly improve insights and enhance the speed of decision-making.
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