5 Tips to Maximizing Your Data Insights with Business Intelligence 3.0
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CREDIT: Dreamstime
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Using business intelligence tools can go a long way toward helping your company achieve its goals. Rony Ross, founder, executive chairman and chief technology officer of Panorama Software, offers tips on accomplishing goals.
Power to the business user. Business Intelligence (BI) 3.0 provides tools for businesspeople to assist them in achieving their goals. To succeed, organizations need to provide insight and analysis tools that fit all their business and management users. Organizations do not need to rely on a few BI specialists anymore to tell them the "right" and "wrong" ways of doing things. BI has finally become what it should be — a core component in the continuous effort to improve business. It is owned by all responsible business users, including management, marketing and sales, operations and finance. BI 3.0 is easy to use and understand and users can independently fit it to their own specific needs.
Data is dynamic and evolving. Organizational data is one of the most important assets for any type of organization. BI 3.0 enables users to absorb data on the fly. Organizations can therefore continually to process new data, or read old data in new ways. Data can not only be presented in concise reports for easy boardroom presentation, but can also be worked on using workboards. Workboards are the next generation of dashboards that are interactive and user-adjustable. They are a social tool that displays data from various data sources, and enables users to explore and analyze company information from different perspectives for better decisions.
Anytime, anywhere. Nowadays, users can communicate wherever they are and whenever they need to by emailing and texting on their laptops and smartphones. This also enables business users to continue working on the go; regardless if they are en route between destinations, traveling or even on vacation. Since BI is so important for corporate users, it has to be available at all times and everywhere – business continuity is the key. The same BI tools must be readily available regardless of the media such as desktops, mobile phones, or tablets. This ensures that users send and receive the right info, at the right time, in the right way.
Make it relevant — make it personal. BI 3.0 is all about getting the right information and insight to the specific user. This also includes giving information to users that they were not even aware that they need to see. This enables them to find data they were not aware they were looking for.
The power of being social. The whole is greater than the sum of its parts, and Web 3.0 has made the world of BI social. For the first time, the “Power of Many” is truly leveraged to the benefit of users and organizations. Organizations need their employees to work together in teams to achieve goals. Users want to interact in the same engaging way that we do outside our workplace. Since BI 3.0 enables users to collaborate using social tools, a much higher level of insight is achieved. There are already some excellent products around that let companies and their users enjoy this new world of BI.
