BI Suite Application - Lead your Organization to the path of Success

Management tools provides enormous opportunity to unearth valuable insight from within your organization. It plays a crucial role in your organization's supply chain management cycle. BI (Business intelligence) suite is one of the management tools or applications which helps organization to reduce loss and increase the profit margin. BI suite application help the organization to increase the productivity.

Accessing information and data from the industry which is relevant to the client's business, store that data into a central database or a data warehouse system, analyze data and reporting it on dashboard are the main tasks done by any BI suite application.

Ralph Kimball,an innovator, writer, and educator in the field of data warehousing, has given one simplest example to describe the benefits offered by BI suite. He has considered delivery of business intelligence as restaurant where the food is prepared at back of the house and customers are served meal in the front of the house. To run restaurant successfully, the right food has to be delivered to the right customer in a palatable format. To get the perfect service done, teams of both the side of the restaurant should understand each other and the whole process very well.

If you replace restaurants with the organization and team at the different sides of restaurants as vendor and clients. To become successful in this competitive edge, it is must for the businesses to understand their clients needs. For delivering services with best quality in a timely manner, one need to have quick access on all information and data. With the use of BI suite application, businesses can get the desired data in a single click. Business intelligence tools store all sales record and create reports for the customizable periods. Looking at the report, one can easily identify overall business activities and can find the way to move towards the path of success.

Business Intelligence Software Allows Decisions with Precision over Speculation

Business intelligence software is part of an overarching strategy of the business called business intelligence. Business intelligence for businesses now-a-days is not just confined to make the processes smoother and simpler by data compilation, but it also means to analyze, interpret, and predict the data. Having done this, through the help of any type of business intelligence tool, any business as part of its strategy can plan the future course with precision over speculations.

Talking about such intelligent tools, businesses can decide to implement those as per their requirements. Mostly, such tools mean to have robust business intelligence software. Now, it is sometimes not possible for small and medium-sized organizations to buy expensive business intelligence software that is exclusively developed. In such cases, there are options to have those inexpensive software that can be easily integrated with the existing system. The main objective of business intelligence software is to empower all the employees of the organization to take their decisions and interpret them keeping in view the impact the organizations may have because of those decisions.     

Therefore, it is a challenge for organizations to have a kind of business intelligence tool that is able to disseminate right information at the right time and interpret it rightly too. Therefore, business intelligence software per se is a small yet important part in the overall business intelligence technology. There are certain areas that can be immensely benefited by such software. To name a few areas there are: executive scorecards and dashboards, online analytical processing (OLAP) analysis, Ad hoc reporting, operational reporting, forecasting, data mining among others.

For example, it is imperative that business analysts and other users are able to gauge the most sophisticated trends in corporate data and therefore, they need to be equipped with the software that is able to analyze and interpret information. Keeping in view this need of the customers, business intelligence software offers thorough online analytical processing (OLAP) which equips the users to juggle between the data in unlimited ways making it available to be reviewed by multiple users.    

Business Intelligence Tool Addresses Requirements of All Types of Businesses

Business intelligence can be defined as helping hand to the businesses to arrive at an informed decision at the right moment and at the right place. If we divide the businesses into three categories: large, medium and small, the necessary BI suite tools also can be divided into these categories addressing the needs of the respective businesses. For example, if the business is small, it requires relatively cheaper and easy-to-operate mechanism. Smaller businesses often require a type of business intelligence tool that keeps the solid record of the data across the organization so that the operations run smooth and transparent. There are such inexpensive tools that address this basic need of the smaller businesses and that too at cost effectively. As the needs of the smaller businesses are of unique nature, BI suite comprising the necessary tools is often very flexible and user friendly. Such business intelligence tool is capable to make the decision makers take informed and right decisions.         

In a mid-sized business, the need for business intelligence tool is slightly complex and addresses the requirements of various levels of the organization. Sometimes, advanced features can be added to the basic tools required for the mid size businesses. Such features then adapt to the requirement of complex data view and insights into that complex information. The intention of BI suite is to equip the businesses with more insights and interpretation of the data so that correct decision can be taken.

Now, talking about the larger business organizations, the required BI suite needs to be more complex and multi-pronged rather than to be just simple and easy-to-use. In such organization, this business intelligence tool needs to be implemented at various levels of organizations namely, strategic, tactical and operations level. Such hierarchical implementation means that at all levels employees are in control of data and information and they can also have insight and interpretation of the situation of which they are in control. This also means a comprehensive business intelligence management that is inclusive of all the employees rather than exclusive as it used to be in older days.

Benefits of Business Intelligence System

Before few years, Business intelligence system (BIS) were an unknown term in the corporate market but now a days every big organization has adopted for business intelligence system. What do you think is business intelligence? Business intelligence (BI) is a science of economics or in laymen language it a system which helps the organization to get accurate and timely information to make the correct decision.  Business intelligent system is software which collects information or data using unbiased means and arranges the data in a logical manner. Because of the effectiveness and number of advantages offered by business intelligent system, software companies have to take initiative to launch business intelligence system with more advance features.

I have outlined few major advantages offered by the common business intelligence system available in the market.  Remember, business intelligence system is software which delivers all functionality stated below :

• Help the system to get the sales report daily, weekly or whichever time period you want to fetch Data for.
• The regular sales analysis report help the organization to increase their profit margin
• Data can be fetched on a single click
• The software can be easily installed on the company’s intranet
• Software allow administrator to allocate access rights to the employee. The person working in research department will not be given access rights to company’s financial reports. This assigning is called the workgroup assignment.
• Organization can get the quarterly and annual analysis report of their business activities which help the organization to move in a positive direction.
• Help the organization to collect data of competitor’s activity and helps them to get all updates of the field they are engaged in.
• Helps the organization to decide between good clients and bad clients based. Based on this, the organization can make the necessary improvement to satisfy their good clients who are increasing their market reputation.