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What is Business Intelligence?

sapphire WHAT IS BUSINESS INTELLIGENCE? AND WHY DO YOU NEED IT? This infographic provides organisations with a framework to evaluate and select the right Business Intelligence (BI) solution for their requirements now and in the future. WHAT BUSINESSES THINK ABOUT BUSINESS INTELLIGENCE I'm happy with my spreadsheets! It's complicated and intimidating! It requires lots of IT expertise & I don't need it. resources. THE REALITY....WHAT BI CAN OFFER YOUR BUSINESS CHALLENGES IN RUNNING YOUR COMPANY LESS THAN A QUARTER OF ALL COMPANIES HAVE RELIABLE & CONSISTENT DATA Profitability and sustained growth is critical for any business. Don't risk being made irrelevant by faster competitors. You need clear insights into your business, with the ability to identify which products, segments and customers yield higher profits and allocate more resources towards them. Ensuring Growth 53% of companies find minor differences between operational reports and finance data. With limited resources you know what is working well, so you can quickly capitalise on opportunities and address issues rapidly. Easily identify company performance and allocate spend accordingly. Companies that never have a disagreement over numbers in management meetings. 23% need Achieving Speed 20% of companies say they find it difficult to explain variances in financial data. Ensure you are utilising resources effectively and the whole team has access to the same information. say they spend a lot of time in management meetings arguing over the accuracy of figures. Staying Focused Get your engineering, sales, finance and marketing 4% teams on the same page using the same analysis. LEMONS TO LEMONADE... BUSINESS INTELLIGENCE TURNS RAW Gartner challenges organisations to increasingly adopt such solutions, saying: DATA INTO MEANINGFUL INFORMATION I Midsize organisations are at a decision point. They have to fold BI and analytics into their application portfolios or risk losing market share to those enterprises that are leveraging Bl and analytics. Raw Data Business Intelligence Meaningful Information Increase Revenue Stability Reduce Cost AAA Transform OVERVIEW OF BUSINESS INTELLIGENCE REPORTING ANALYSIS Business Advanced web reporting with easy access to relevant data Graphically rich displays of content in charts Integration with office applications (exports to PDF, Powerpoint, Excel etc) Distribute power to end users so information is readily accessible across the team Filter and analyse data for better decision making Merge data from multiple sources into a single report Update reports and analysis without requiring additional IT resources Access critical business information Embedded into Mobile In- Memory SOPHISTICATED PLANNING Export RELEVANT DATA AND FORECASTING AT A GLANCE Detailed and specific operational and financial planning Communicate plans in a centralised portal Build effective collaborative plans based on financials Gain forecasting insights Quickly review and monitor workflow via your mobile device or browser Disseminate insights easily across your business Create a unified real-time view Quickly transfer raw data into valuable information CHALLENGES BI CAN ASSIST WITH TTT Small IT Budgets Limited IT systems run by business - not by IT resources Data not clear Many people, Fast access to your information. Correct data from all parts of the company. One version of the truth concise & many spreadsheets, many truths consistent Only IT knows the answer, disparate systems, large amount of raw data.but little information Timely access Accurate and consistent data for everyone to accurate business information Gartner says, II The biggest challenge for companies is delivering IT services with a small staff and limited IT skills that do not grow in proportion to the demands of the business. Many businesses have traditionally shied away from BI and analytics solutions due to concerns about the complexity and high cost of deploying and managing them, although they can help SMES identify their most profitable customers, accelerate product innovation, optimise pricing, and discover the drivers of financial performance. KNOW MORE THAN YOUR COMPETITORS Business intelligence brings you descriptive and diagnostic analytics: Oxford Economics research highlights that the technologies most commonly WHAT HAPPENED AND WHY? deployed today by SMES are: Business Management Software (48%) Mobile What will (46%) How can you make it happen? happen? BI and analytics (44%) Predictive analytics Prescriptive analytics Smaller firms are expanding their use of analytics: more than half of those with sales under will use these tools in three years - US$100,000 a jump of 43%. Business Forecasts Planning modelling MAKE YOUR PLANNING PROCESS MORE EFFICIENT WORKFLOW COMMENTS TRENDS / FORECASTS VERSIONING SECURITY ANALYSIS / REPORTING BE PREPARED FOR THE FUTURE WITH MODERN BI TECHNOLOGY A well-executed business intelligence deployment is a source of competitive advantage. BI helps businesses identify their most profitable customers, accelerate product innovation, optimise pricing, and discover the drivers of financial performance. Oxford Economics Analyst(s): Robert P. Anderson. Oxford Economics, Research on 2,100 SME executives across several industries and 21 countries in 02, 2013. Gartner Research, "Predicts 2013: Now is the Turning Point for Midslze Analyst(s): James A. Browning, Susan Galberaith, Mike Cisek. SAP Meeting the challenges of Business Intelligence Infor BI Battlecard Forrester Consulting Infor Bl overview Enterprises" Published: 29 November 2012, Gartner Research, "Agenda Overview for Small and Midsize Business Marketplace, 2013 Published: 7 January 2013, Transform S Applications Analyse Report ly extendi 圖 Manage O Plan Pre-built content

What is Business Intelligence?

shared by pavlinaw on Mar 13
An infographics overview of Business intelligence and how it helps businesses with they data and report challenges.




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