Evolution & Efficacy of Verticalised BI
In a way, a strong juxtaposition as it may sound, Business Intelligence (BI) is getting horizontally verticalized. There are three types of verticalizations that are happening in the BI space. One is in terms of function, like balance sheet (financial) consolidation, Inventory Consolidation and the other is in terms of industry segments like healthcare, logistics. The third type is in terms of technology (ERP, Financial Accounting …) like for SAP, Tally, etc. All three are taking place on the established grounds that BI verticalization does not make sense for a few generics.
We could sense the requirements for balance sheet (financial) consolidation from our customer for quick closure of books, error free and analytics driven; hence MAIA Intelligence came up with an offering of 1KEY FCM. Financial Consolidation is the other area that is seeing a lot of knitted BI solutions coming its way. Due to heavy M&A activity and a stricter regulatory environment, all branches, subsidiaries and sister concerns of organizations have to have some common financial binding. And that is when BI is coming in and capturing the screen space. In fact, many global analysts are of the view that financial consolidated verticalization was one prime reason why BI registered the phenomenal growth figures in the last year.
In terms of industry verticalization, the big question is to figure out is what industry can be verticalized. Those industries that are regulated and follow some standard procedures are easier to verticalize. Going by those standards BFSI, pharmaceuticals and telcos obviously look like hot segments. However, others like retail, manufacturing, broking are not being left out by vendors too.
Economics is another thing that needs to be kept an eye on for verticalized solutions. Not all solutions can be viable from a cost perspective. There is a cost challenge attached to verticalization. New fields, new reports, new laws, all need constant up-gradation and we have to understand how it can be technically deployed.
In terms of third type of verticalization, MAIA Intelligence has offerings for BI for SAP data with 1KEY SAP Connector, BI for flat files formats of Tally data with 1KEY Tally Connector and so on.
Posted on August 16th, 2010 by Sanjay Mehta
Filed under: Business Intelligence, Emerging Trends
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