Why You Need a Business Intelligence Solution
By: Zarek Bowen - Principal Consultant
Published: August 3, 2020
Why do you need a Business Intelligence Solution?
Let us propose that a business exists and it sells products as most businesses do. It could be an item or a service or a combination of the two. This business, every day, has a large number of customers come and go, purchasing what they will as they pass. As business progresses, questions arise on just how much things can improve:
- “Is there any way we can reduce operating costs on an hourly basis?”
- “What is our target demographic for our products?”
- “How can we optimize our workforce hours based on traffic?”
These questions are inevitable in the process of growing an organization, of course they all have answers. With the use of Business Intelligence, all these questions and more will leave their answers before you.
Businesses collect data at an exceptional rate in this newfound age of connectivity. This data has the potential to lead to trends and answer questions raised by financial planners and analysts alike, but as raw data it remains to be murky waters of information. This raw data needs to be translated into actionable information that can be viewed easily. Here lies the path to a company’s implementation of business intelligence solutions.
The running of raw data through a business intelligent solution ideally leads to it providing information on sales trends, product performance, targeted operational cost, or any other financial information. Anything an analyst can take a look at and draw a conclusion from that leads to a better business. This is achieved through data-cleaning, organization, and smart translation of data into query enabled states that can be used by analysts. Often achieved at simpler levels with excel sheets and pivot tables, or on-prem databases, SQL, and a Business Intelligence(BI) application, but in larger scopes the process is achieved in whole via software and the data cloud. Companies like Oracle, IBM, and Amazon offer comprehensive business intelligence solutions from the ground up. Incoming data gets stored in the cloud as Categorized Charts of Accounts and General Ledgers, or any other such labeled data based on its attributes. From there it can be translated into reports or viewable trends with the use of the BI applications. Charts, reports, categorized total sums; any question answered with the manipulation of BI tools.
Here at CloudADDIE, we make use of these Business Intelligence Solutions to help companies better their business through implementation of Oracle Cloud applications and software. Enterprise Performance Management and Enterprise Resource Planning combined with the cloud databases allow us to create and implement BI Solutions for companies to get the most out of their data. These implementations offer long-term solutions with ease-of-access and transition to aid in any company’s growth and success. So why shouldn’t you find a BI Solution with us?
Are you looking for a BI solution?
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We offer Autonomous Systems for EPM Cloud Applications such as Oracle Planning & Budgeting Cloud Service (PBCS/EPBCS), Financial Close & Consolidations Cloud Service (FCCS), Enterprise Data Management Cloud Services (EDMCS), Account Reconciliation Cloud Service (ARCS), Profitability & Cost Management (PCM) and more.