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Gaining an insightful understanding of your own corporate data together with any other external industry market information is critical to informed business decision making. In today’s volatile and uncertain market, empowering your employees with an effective set of self-service business analytics tools will significantly reduce risk in decision making, and help institute operation improvement and business planning on a more time effective basis.
Running a business on guesswork where decisions are based on “gut feel” or “best guess at the time” is almost like gambling. Data dependent in decision making may be spread around, whether housed in a legacy databases or information residing on the internet. The ability to consolidate mass levels of data and provide access in a simplistic single view is critical.
You can’t be dependent on data specialists to access and interpret information in response to business questions. End-users must be empowered through effective tools to gain access to information immediately and from any location. Consumption of data needs to be independent of time or place and accessible using new modern mobile device form factors.
One of the biggest benefits of an effective BI platform is to understand trends in your business data. Whilst there still is a requirement for the more traditional forms of reporting through standard dashboards for KPI reporting and management, business users are now demanding self-service visualisation tools enabling them to dig deeper and gain more insight into data. This insight will be derived from past historical information, analysing the effect of changes to key performance indicators within your business through “what-if-analysis”, ability to incorporate data from numerous data sources and understand the dependencies of this data.
Controlling access to “who sees what data” is vital to both the security of sensitive data but also to empowering users to consume adequate levels of data in decision making.
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