Do we require Business Intelligence?
Vikram Kole
Number of reports can be provided in the standard/customized application, but when it comes to the dynamic reporting requirements & the need of ever changing formats, it becomes difficult to handle the scenarios in time. Can your transactional applications answer company’s critical questions such as, why market shares are going to competitors; which products contribute the most to profit; how can business become more profitable; why some divisions are not profitable; which plants produce at the lowest cost; how can productivity improve; which parts of the world are the most profitable; who are best and worst customers; where is money being lost or made, etc.?
Business Intelligence (BI) answers these questions by analyzing and comparing business historical data. BI has a tremendous impact on business once installed. It produces the right information at the right time, which is key element for the success of any business enterprise. BI is the art of knowing and gaining the business advantage from data. Whether it is marketing competition, customer retention, inventory control, financial modeling, or even in national security, BI is the answer. Data is created by business activities or data from outside sources like Excel, customs data bases, competitor’s information, etc. to study a particular group of people or customers. Such information is used by businesses to understand their business trends, their strengths and weakness, and to analyze competitors and the market situation. BI can help organization create timely & accurate compliance reporting.
BI empowers you to achieve the Ad hoc reporting requirement & also do the analysis over their data accumulated over the period & take important decisions. Thus MAIA Intelligence’s 1KEY - real time BI is not only relevant but key to achieving compliance.
Posted on February 8th, 2008 by Vikram Kole
Filed under: Business Intelligence, Entrepreneurship, View Points & Perspective
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