There is a common myth that businessmen used to make important decisions based on just a hunch.This, however, is not exactly true. Sure, you can get lucky once or twice, but when luck runs out, you usually tend to lose more than you gained. Furthermore, sometimes this gut feeling will be nothing else than subconsciously recognizing a pattern from your previous business deal and making your decision based on its success. In 2017, you no longer need to make resolutions based on subjective factors but on real-life data, carefully organized and processed by sophisticated business intelligence software. Here are five.
Clear Analytics
A lot of laymen fear grappling new business intelligence software fearing that it will be extremely complicated to master. Of course, this fear is completely unfounded. You see, clear analytics has an MS Excel-like layout, which means that you will receive all the information you need in an old and familiar format. Because of that, it also has a user-friendly learning curve which makes it great for your first business intelligent software.
Oracle Hyperion System
If you are looking for a tool to help you make better financial decisions, you cannot go wrong with Oracle Hyperion System. The goal of this software is to help you facilitate budget planning and financial forecasting. In turn, this helps you compose the most cost-effective agenda and do so in a smaller time-span. Another advantage that this system brings is a fact that it can be integrated with desktop and mobile devices, which means that it accommodates to most users.
Panorama
Panorama is a BI software that delivers a holistic approach to your business infrastructure. It helps provide analytics, top-notch security, an option of multiple data sources and of course, is able to work in dashboards and KPI alerts. This way, instead of getting fragments, you get the whole picture. The greatest problem with the data you gather is that although it is objective, on its own, it is inconclusive. Only when processed, this data becomes information you can make your business decisions on. This is where Panorama steps in with its innovative presentations and infographics.
Sisense
For those who are desperately hoping to avoid complicated IT processes, there is nothing that can measure up to Sisense. Even though the aforementioned three pieces of software are not exactly difficult to use, Sisense has taken one step further to become beginner friendly. The analysis and display of information are highly graphical, which gives you a much easier time figuring your way around. Dashboards are interactive, which further makes your job of information entry and extraction much simpler. All in all, a great addition to your software arsenal.
SAS Business Intelligence
One of the major concerns people have when it comes to most business trends is scalability. You see, even though something suits your business at the moment, it is not necessarily that it will remain so in the future. Switching your IT infrastructure can be extremely expensive in both time and money, which is something that should be avoided at all times. This is where SAS Business intelligence comes in big, with its centralized metadata and great scalability. No matter what direction your business takes, you can rest assured that this BI software can follow through. Furthermore, it gives you a free trial to check it out, although you would need to pay for contact.
Conclusion
The abovementioned five are a great choice for startups, SMBs, and even larger enterprises. However, no list would be so long to mention all BI worth considering. Some honorable mentions are Bime, Adaptive Suite, and Yellowfin BI. Sure, it would be absurd to say there is one that is clearly superior to others. Each comes with its set of flaws and advantages, so it is really the question of how successfully it integrates with your business more than anything else.
During the pandemic, every business is running at an exponential loss.
The COVID-19 times have been challenging for all of them, irrespective of the brand’s size and clientele.
Companies are hustling to balance their job amidst the shutdown, and the financial crunch is making it difficult to beat the challenges.
That is why an out-of-the-box method to break out of these shackles is the need of the hour.Business Intelligence Solutions are important in the current pandemic.
If you want to know why and how, read the article below to know all about it - Business Intelligence Required in Pandemic.
According to a new market research report " Business Intelligence Market by Type (Platform, Software, Service), Data type (Unstructured, Semi-Structured, Structured), Business Application, Organization Size, Deployment Model, Industry Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets™, The global Business Intelligence (BI) market is estimated to grow from USD 17.09 Billion in 2016 to USD 26.88 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 9.5%.BI helps business users access business data and perform queries to generate insights.
It equips business users with easy-to-use data exploration, data preparation, appropriate analytics, and data visualization tools & techniques.Browse and in-depth TOC on “Business Intelligence Market”89 - Tables46 - Figures167 - Pages Ask for PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1048Business Intelligence (BI) tools enable enterprises realize crucial benefits, such as cutting losses, creating new opportunities, saving costs, and increasing efficiency by analyzing and acting on any business issue.
The major growth drivers of the Business Intelligence market include increasing adoption of cloud, growth of advanced analytics, adoption of data driven decision-making, and emergence of Internet of Things (IoT)-enabled technologies.Many organizations across various verticals have been utilizing BI tools to enhance their decision-making abilities.
First, the growing market pressures, such as global rivalry, regulations, slender margins, and quickened design cycles, which compel organizations to have the capacity to take quick decisions based on business data.
Second, owing to rapid digitization, more data is being generated by the systems, devices, equipment, automation, and products than ever before, which requires the use of robust BI tools for real-time analysis.
Hence, organizations are adopting BI tools to gather valuable insights that would simplify and streamline the decision-making process in real-time.BI solutions are used widely by major verticals globally, such as Banking, Financial Services, and Insurance (BFSI); telecommunications & IT; retail & consumer goods; healthcare & life sciences; government & defense; manufacturing; energy & utilities; media & entertainment; transportation & logistics; and others, for various business needs.
Market Research Future (MRFR), predicts that the global business intelligence market will grow at a CAGR of 11.03%m, reaching USD 34.3 billion by 2022 from USD 16.3 billion in 2016 during the forecast period 2016-2022.Market OverviewOrganizations are increasingly turning to Business Intelligence (BI) to address the challenges of business decisions posed by vast amounts of data.
Business Intelligence equips organizations with the advantages of faster decision making, real-time performance measurement, greater insights into customer behaviour, better quality of information, better estimation of threats and opportunities, increased sharing of information and improved efficiency, enhanced communication, quick response to changes in financial conditions and supply chain operations, reduced equipment downtime, and others.
The drivers of the global business intelligence market are numerous, however, growing adoption of data analytics by organizations across the globe, the emergence of IoT-enabled technologies, and increasing usage of data analytics remain the principal drivers of the market.
Moreover, with the rise of mobile-based applications, there has been an emerging demand for mobile analytics business intelligence.Market Research Future (MRFR), predicts that the global business intelligence market will grow at a CAGR of 11.03%m, reaching USD 34.3 billion by 2022 from USD 16.3 billion in 2016 during the forecast period 2016-2022.The main barriers to the adoption of BI are cost and complexity.
Departmental silos remain one of the principal obstacle along with other factors such as employee resistance to adoption of new technology, lack of CIO participation in decision making, lack of expertise to utilize the technology to its fullest potential.
Even though the barriers to adoption of business intelligence are many and significant, implementation of BI has facilitated businesses make improved business decisions over accurate data.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/2299SegmentationThe global business intelligence market has been segmented based on technology, service, component, deployment, organization, and industry.
Learn how a properly constructed business intelligence dashboard can make the difference between a good company and a great company by transforming data into real-time, actionable insight about its performance.
