Business Intelligence tools help manage and process unstructured data to identify and understand market trends and increase revenues. The right BI and analytics tools can help you understand the market better and grow your business. To know how the select the right BI infrastructure for your business, read here. https://bit.ly/3J1Mlmo
Strategy to Select BI Tools for Your Organization
- Visual Presentation Functionality: The tool that helps create data visualizations must support a variety of user types. It also must allow for the level of customization and flexibility that supports business objectives and the requirements of the various functional groups in the organization. The business intelligence reporting tool is the face of the business. Hence struggling with dashboards that are difficult to create or to understand or feature poor-quality visuals will deter users from embracing and working with the tool.
- Integration: While a standalone solution can only be accessed and viewed in its application; an integrated solution can be accessed and viewed through various pre-existing applications, websites, and services within the business. Integration puts the benefits of BI directly into a service that business users already use and are familiar with.
- Customizability: The BI vendor must be able to build a solution that fits every business’ data requirement. The solution needs to be flexible to accommodate future needs and changes in objectives. By and large, most businesses will need a custom set-up –one that can integrate flawlessly into their operations and grow as they grow. Business users on the other hand can be very particular about how they consume their data, thereby making customization and extensibility critical factors that influence the purchase of a BI tool/vendor.
- Mobility: Mobility features are crucial to factor in for businesses that function with off-site workers, board members, or stakeholders who need access to company data to be effective and informed. It is therefore important to assess what is expected out of the mobile BI application. The kind of features needed on the go and whatever else that is needed to ensure the success of working with one.
- Easy Adoption & Training: Product training is a necessary investment to reap the full benefits of any BI solution. BI can radically change businesses for the better, provided time is taken to give quality and flexible training to users on the BI product. Now, this must be assured by the BI vendor or the business must seek to expand resources for this training to be accommodated.
- Pricing: There are three major things to consider such as subscriptions, growth, and hidden fees. It is also important to understand and obtain complete details of quarterly or yearly subscriptions on top of any upfront costs. Evaluate scaling up solutions with a flexible pricing model, additional fees that aren’t listed in the pricing model, but are necessary for full implementation upfront to avoid any surprises in the future.
- IT Support: A self-service BI tool allows business users an easy BI experience; freeing up IT resources to focus on other tasks. What is ideal with self-service capabilities is that it still allows for IT to easily control the deployment and prevent user chaos later. This said it is necessary to ensure that the vendor also has a fully capable support team to accommodate any issues or questions technical users may have. Narrowing down on an expert, flexible vendor who can provide solutions customized to the organization’s needs or problems will make a difference to any organization’s entire BI experience.
As a global SAP partner, Gemini Consulting and Services can help you make better, faster and data-driven decisions using BI tools. Contact us to know the advantages of SAC and customize it to meet your business requirements.
Because competition is tough, business is getting harder to manage and grow, and knowing your customer means half the battle has been won.
Customer insights include what they like, how they react, how they shop, and how you should be interacting with them.
An increasing number of marketing managers state that their companies vie for better CX in order to do better than their competitors.
In turn, it lets you provide better answers and solutions to your customers’ queries and problems.
It also lets you personalize the experiences that you create for your customers, making them feel important and understood.
As for marketing, making use of business intelligence tools, you can achieve visibility into sales information and design your marketing strategy and campaigns based on it.
Business Intelligence (BI) is a collection of technologies, processes, and architectures that convert raw data into meaningful information; This helps many startups, SMEs, and large companies make profitable business decisions.
32% of Research and Development teams continually employ four or more BI tools to do their work, managing all departments in 2020.
(Forbes) The healthcare, financial, and retail/wholesale industries are likely to adopt Business Intelligence (BI) in 2020.
(Forbes)Check out the list of top Business Intelligence tools that can become highly profitable for your organization:There are several types of Business Intelligence tools, but not all of them are capable enough to offer leading solutions.
Here are the few top-listed BI tools that can provide profitable solutions to your organization.
DATAPINE Datapine is a popular Business Intelligence software, allows you to relate business and other data from different sources.
Data Analysis is what you need when the aim is to create the perfect user experience by balancing their needs with your offerings.
And, here's more on how you can use data analytics to enhance App Development.Learn More at : Using Data Analytics to Enhance App Development
But, these data need to be analysed and tracked to assess risk and inform fraud by the insurance industries.
Therefore extracting meaningful data from it leads to a huge processing time which lowers the efficiency of the underwriting team.Thus with opportunities arises challenges!
As big data is transforming the core concepts of the insurance sector simultaneously, it is also facing challenges that prevent experiencing the full potential of the data insights.
Here are most faced top two challenges and their imperative solutions to deal with them:Challenge 1: Confluence Of Unstructured Data And Legacy System Prevents From Making Actionable InsightsIn a traditional insurance system, there is a barrier to seamless integration among different data depositories.
Therefore, preventing insurance companies from realising the full potential of data.
Solution: Build an integrated single platform that integrates new and existing data sources and makes data actionable by leveraging advanced analytical toolsChallenge 2: Deployed Actionable Data Insights Only For The Product Level And Not At A Customer LevelOften customer insights are lost in silos more because they are scattered across the functional lines of the process.
