The importance of interpreting data as it comes cannot be stressed enough. Many businesses have suffered setbacks due to poor data interpretation. Business Intelligence provides a workable platform for executives to craft new decisions in order to circumvent these setbacks. Some have surmised that the explosion of cloud-based services has rendered CIOs irrelevant in the business world. But this couldn't be more wrong. The participation of an independent mind is still as valuable as it was thirty years ago. Perhaps even more so. For all the advances we've made in computing and automation, we're still largely reliant on the perception and unique foresight of a breathing, living human being in making sense of raw data.
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In today's business environment, holistic Business Process Management (BPM) has gained precedence over simple business process outsourcing. In the past, vendors were expected to deliver to metrics detailed in service level agreements. Today, clients expect a strong positive influence on business outcomes, improving operational efficiencies, creating superlative product and service experiences for the firm's end customers and importantly, making a favourable impact on profit margins. The role of a BPM solution is to translate business opportunities into tangible solutions that lower costs or improve profitability.
The barrage of data coming in everyday can be overwhelming without the assistance of an efficient Business Intelligence tool. Using such tool is the only way you can make sense of the heaps of convoluted numbers that are somehow important to the operation. B2IT provides a way for businesses to collect data and process it into valuable information needed in decision making. Sustaining your business's success is contingent upon your ability to keep pace with everything: market forces, consumer demand, expenditures, etc. And they can be determined when you have cold, hard facts right in front of you.
Lots of companies use data warehouses to obtain a single data source. Much of the time, this is only of limited help, because it takes too long to generate and maintain reports for users. Recently, QlikView launched its' “Direct Discovery” feature, which makes a data source database accessible to reports on demand. In its' standard settings, QlikView uploads all the necessary data into a column store database in advance. However, when needed, the Direct Discovery function enables it to access data from SQL data sources, to complement the column store database. To analyse your information, you can combine sources of data from different suppliers and vendors into one QlikView application.