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Business intelligence can generally be described as the art of managing a business with the help of various skills, applying various qualities, technologies, and security risks. Once the business intelligence is stable, a company can begin to think about expansion and enhancement of their business.
The concept of business intelligence
Business intelligence, or BI information, is a critical aspect for organizations and is needed by almost everyone who has a professional career. People at the highest levels in companies need a certain amount of business intelligence, and should ensure that they keep on increasing their business intelligence. BI also requires the organization’s plan and vision – defining BI strategy, goals, and analyzing KYI, key performance indicators (KPIs). BI applications can be examined on enterprise-wide, departments, divisions, or project-base levels. Therefore, it is very important for the company that key employees have a certain amount of business intelligence knowledge. In many cases, companies hire special employees or experts for enhancing their business intelligence capabilities.
BI tool is a decision support software helps organizations capture, organize and analyze organizational data to make better decisions. The data could include internal data from company departments and data from external sources, such as marketing data services, social media channels or even macroeconomic information. The software provides essential insights to help businesses grow by giving information they need about product, sales, and customer behaviour.
This is the list of top Business Intelligence (BI) tools currently available in the market.
1. Actuate Business Intelligence and Reporting Tools (BIRT)
BIRT is developed as a top-level project within the Eclipse Foundation and leverages the rich capabilities of the Eclipse platform and a very active open source community of users.
2. Bizzscore
it is a management dashboard that offers HRM need for performance improvement.
3. Board Management Intelligence Toolkit
BOARD is used in an effort to improve productivity and decision making while lowering costs. It does not require any programming skills to build BI and CPM applications.
It is incredibly intuitive Excel-based solution with minimal training required for Employees , offers a variety of BI-specific features to help generate, automate, analyze, and visualize a company’s key data and information.
include Analysis Services, Integration Services, Master Data Services, Reporting Services, and several client applications used for creating or working with analytical data.
From local spreadsheet data to enterprise data systems to cloud-based data, it provides effortless access to all business data from one place.
7. Oracle BI
Oracle BI is a comprehensive collection of enterprise business intelligence functionality that provides the full range of business intelligence capabilities, including dashboards, full ad hoc, proactive intelligence and alerts, and so on. Typically, organizations track and store large amounts of data about products, customers, prices, contacts, activities, assets, opportunities, employees, and other elements.
8. Oracle Enterprise BI Server
It is a comprehensive business intelligence platform that delivers a full range of capabilities including interactive dashboards, ad hoc queries, notifications and alerts, enterprise and financial reporting, scorecard and strategy management, business process invocation, search and collaboration, mobile, integrated systems management and more. it integrates with an organization’s existing information technology infrastructure for the lowest total cost of ownership and highest return on investment.
A leading provider of performance management software.
Predictive analytics give your decision makers the insight they need to predict new developments, capitalize on future trends, and respond to challenges before they happen.
It also allows, Excel workbook-based application design and creation of BI presentations in PowerPoint. It perfectly connects to SAP NetWeaver BW and SAP HANA.
Quickly Capture, store, and consolidate your vital information with our real-time data warehouse platform. Tightly integrate your warehousing capabilities for a single version of the truth, decision-ready business intelligence, and accelerated operations.
Benefits of BI tools in Pharma companies
The pharmaceutical industry is in the midst of fundamental changes. The changes have been brought on by the increasing concerns over expiry of patents for major blockbuster drugs, weak product pipelines, heightened awareness of drug safety, globalization, competition from generics and growing value considerations with regards to access to and reimbursement of new specialty therapeutics. These issues, and more, have forced top pharmaceutical companies to change their current course, in search of a stable and sustainable path that can help them maintain and improve their current profitability levels. Near-term strategic efforts in the path towards sustainability include traditional business approaches that aspire to fully address shortcomings, but are more likely to only produce incremental improvements. To establish an effective information transparency infrastructure in the near-term, an organisation needs to improve its ability to rapidly and regularly extract real-time data that reflects the status of projects and processes ongoing within it. Access to accurate real-time information during every phase of development can significantly improve the effectiveness of strategic decision-making, increasing the likelihood of long-term success. It can help companies to better reach project milestones with regards to experimental progress, optimize utilization of project resources and enable comparative analysis of specific projects undertaken by the different divisions of the company. Heavily validated in other industries, Business Intelligence (BI) is increasingly becoming an essential part of the pharmaceutical industry. Apart from establishing an effective information transparency infrastructure, BI directly enables both senior management and project line managers to make better decisions to help their companies move forward.
Business intelligence is skills, reasoning, forecasting, coordinating, acumulating resources and risk taking to earn profit and succeed in a chosen business. From a small vegetable seller to big businessman inelligence is required to run the business and to earn profit. Infact profit is for risk taking in business as future is uncertain due to various factors. Assessing the potential risk is must to minimize the damage and succeed in business.
I agree with M's Ghada answers, thanks for the invitation.
Business intelligence, or, is an umbrella term that refers to a variety of software applications used to analyze an organization's raw data. BI as a discipline is made up of several related activities, including data mining, online analytical processing, querying and reporting.
Exmaples of BI softwares : Beam, SISENSE, OLAP. Inetsoft, board, Birst, Chart, Analytics Cloud and many more on the marketplace.
Based on your company business lines, you have to select a challenging BI software with help of your IT team, the important usage is getting any results in seconds, years or years report of your company business in seconds ( on daily basis, weekly, monthly, yearly, sector wise and region wise ) , research analytics, comparison study and you add/ delete any new tolls as per requirements.
Business intelligence (BI) is a technology-driven process for analyzing data and presenting actionable information to help corporate executives, business managers and other end users make more informed business decisions. BI encompasses a variety of tools, applications and methodologies that enable organizations to collect data from internal systems and external sources, prepare it for analysis, develop and run queries against the data, and create reports, dashboards and data visualizations to make the analytical results available to corporate decision makers as well as operational workers.
List of Business Intelligence toolsMarch 2016: Leaders in BI & Analytics further strengthen their market position
Place in medium and large companies many operations on a daily basis. BI or Business Intelligence provides a comprehensive overview of these processes. It is more big than small companies because it addresses many operations are in the company of buying and selling; staffing; import; export, bank, bank transfers and many, .... Last numbers are collected and analyzed, and be the basis to forecast and predict the future. Hear about business intelligence is a lot these days, what is ... beginning with this article. Who uses BI specifically? In the previous analysis programs were used only by the first-level managers. But today even uses people from abroad Business Intelligence System: ordinary employees, directors of departments, partners, shareholders and even customers. Before there were many kinds of business intelligence software,
Business Intelligence is no doubt one of the most used buzzwords in the modern business landscape. Newer BI models are easier to use, have simpler interfaces and can be operated and understood even by the most technologically-adverse team member in a company.
With a business intelligence dashboard, you can know certain KPIs such as speed of answering phone calls, return rate etc. which can exponentially enhance the productivity of your business.
No matter how good your information is, if you do not know how to use it properly to make your business grow, then it is pretty useless!
Thanks for the invitation....amazing answers given by Ms. Ghada and Mr. Vinod.
Business intelligence (BI) is a technology-driven process for analyzing data and presenting actionable information to help corporate executives, business managers and other end users make more informed business decisions. BI encompasses a variety of tools, applications and methodologies that enable organizations to collect data from internal systems and external sources, prepare it for analysis, develop and run queries against the data, and create reports, dashboards and data visualizations to make the analytical results available to corporate decision makers as well as operational workers
The potential benefits of business intelligence programs include accelerating and improving decision making; optimizing internal business processes; increasing operational efficiency; driving new revenues; and gaining competitive advantages over business rivals. BI systems can also help companies identify market trends and spot business problems that need to be addressed.
BI data can include historical information, as well as new data gathered from source systems as it is generated, enabling BI analysis to support both strategic and tactical decision-making processes. Initially, BI tools were primarily used by data analysts and other IT professionals who ran analyses and produced reports with query results for business users. Increasingly, however, business executives and workers are using BI software themselves, thanks partly to the development of self-service BI and data discovery tools
With the support of the data gathered from different sources and plaforms inside or outside your company, you can have more insight with the following questions within your organization using BI Tools;
1. Whats happening and why something happened?
2. Whats going to happen?
3. What is important? (even without asking)
4. What are your options and what should you do?
This is why it is intelligence :)
Thanks for invitation ,,,
Business intelligence (BI) definition:
Its represents the tools and systems that play a key role in the strategic planning process within a corporation.
These BI systems allow a company to gather, store, access and analyze corporate data to aid in decision-making.
Generally these systems will illustrate business intelligence in the areas of customer profiling, customer support, market research, market segmentation, product profitability, statistical analysis, and inventory and distribution analysis to name a few.
These BI system tools:
· Qlik
· SAS BI
· Board
· Birst
These BI system benefits:
1. Eliminate guesswork.
2. Get faster answers to your business questions.
3. Get key business metrics reports when and where you need them.
4. Get insight into customer behavior.
5. Identify cross-selling and up-selling opportunities.
6. Learn how to streamline operations.
7. Improve efficiency.
8. Learn what your true manufacturing costs are.
9. Manage inventory better.
10. See where your business has been, where it is now and where it is going.
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