With the amount of data stored by companies growing exponentially, it is no surprise that finding the right data management solution continues to show up on the priority list of Chief Information Officers (CIO). Data has to be secure and distributed efficiently for important up-to-date business decisions.
Companies need to translate data into information to plan for future business strategies. For most companies, valuable data is stored in massive spreadsheets or servers. Ideally, this data should provide you with information on sales trends, consumer behavior and resources allocation. Company data can indicate the viability of your product and help in the planning of your future growth. Hence data can help maximize revenues and reduce costs.
A Business Intelligence (BI) solution helps in producing accurate reports by extracting data directly from your data source. With Business Intelligence solutions today eliminate the time consuming task of consolidating data manually. Since BI tools can produce recent data, it allows managers to monitor businesses in real-time. A BI solution provides real-time reports directly to managers on-demand from any location. This helps to reduce the scope of error by providing managers with accurate data to make better decisions on what is happening now and to forecast for the future. BI solutions also focus on providing data security by using existing established security infrastructures to keep data private.
Therefore if you are looking for a way to gain actionable insights from your huge piles of data, and to speed up your data extraction process, a BI solution such as PowerOLAP is your best choice.
Thinking of implementing a Business Intelligence solution?
(Originally contributed by- Priyank Mathur, PARIS Technologies, posted on 11/13/12)