business intelligence software

Why Mid-Size Companies Need Business Intelligence Software

June 1, 2009 By SH Leave a Comment

In this uncertain economy, critical thinking has become more important than ever for businesses that wish to remain ahead of the game. To make the most of valuable resources, and to better control efficiency and productivity, many large companies have depended on business intelligence for answers. However, for many struggling mid-size companies, business intelligence can sometimes seem like a costly and unpredictable investment of time and money. But while business intelligence requires both of these, the benefits for mid-size companies far exceed the momentary losses.

How Mid-Size Companies Avoid Business Intelligence

Unlike larger companies, mid-size companies do not have seemingly unlimited resources, and are therefore cautious towards investing in business intelligence software. With limited funds, mid-size companies can look at the cost of implementation as a risk and can be concerned with how long it may take to properly initiate the specialized skills needed to oversee the business intelligence.

Instead of using business intelligence software, many mid-size companies depend on spreadsheets, and manually oversee budgeting, planning, and forecasting to manage their businesses. To save even more money, these same companies also turn to transactional databases for all of their analysis needs.

But while this system can initially cost less than business intelligence, over time, the long term losses are substantially more damaging to mid-size companies.

Without Business Intelligence, Mid-Size Companies Lose Money

When mid-size companies depend on manual spreadsheets, the amount of time and frustration it takes to oversee data is detrimental to any supposed savings. Without proper business intelligence software, the manual cutting and pasting of data will inevitably lead to costly errors. Even worse, quality control is next to impossible, and there are limited security restrictions over who has access to what data.

If manual control is an impractical alternative, then what can business intelligence offer mid-size companies?

The Abilities of Business Intelligence Software for Mid-Size Companies

Despite the investment of time and money, business intelligence software gives mid-size companies the ability to abandon guesswork for concrete facts. With solid business intelligence, these smaller competitors can immediately identify performance problems, data errors, and vital security issues. Once these deficiencies are addressed, the same business intelligence can help exterminate unnecessary inventory, make workers more aware of their successes and failures, and promote faster delivery of information. To further make up for expenses, business intelligence software allows mid-size companies to make better business decisions that will save money and create profits.

Throughout history, while many mid-size companies have failed during economic lows, strategic companies have overcome the odds to become incredibly successful. With proper business intelligence software, mid-size companies will have the means and methods to remain competitive and profitable.

Filed Under: business intelligence, business intelligence software

Customizing Open Source BI (Business Intelligence)

May 20, 2009 By SH Leave a Comment

With most commercial software, it is rare that a customer just buys the basic suite. Instead, they usually have the software customized by the parent company or by an outside consulting firm. Unfortunately, when the parent company releases another version of the original software, the customization that the customer added is left behind. This works out very well for the commercial companies and the outside consulting firms that help customers update their software, but it does not work out as well for the customer.

For customers who need a great deal of customization done to their business intelligence software, open source may be the answer. There are a few ways that they can ensure that a new version of the software will not affect the customization that they applied to their product.

Become Involved in the Open Source Community – Once a company becomes involved in the community they will have more input into whether or not the changes that they made to the original source code are included in a new version. This is, of course, assuming that they released the code that they created when they customized their project into the community. Ways to get involved in the community include participating in forums, not just asking questions, but providing answers as well; adding to a community’s to-do list; and completing one of the tasks on the to-do list.

Use Internal Resources to Build the Appropriate Applications – With access to the source code, a company can use their internal IT resources to enhance their business intelligence software. During this process, it would be important to document the changes made and how they were written so that if the company decided to keep its changes internal, then they could recreate the applications when a new version of the software was release. This could prove to be time consuming, so unless the applications that are developed in house are crucial to the competitiveness of a company, it is usually more prudent to share the new code with the community once it is developed, so that it is carried over to the new version without any hassle.

Hiring an Outside Consulting Firm or Contacting the Parent Company – For companies who need business intelligence software, but don’t have a strong IT team, hiring an outside consulting firm or contacting the parent company for additional applications is usually the best course of action. Although this option will cost the company more than the first two options, it usually costs far less than paying the licensing fees on commercial software. The downside to this option is that it is rare for these applications to make their way into a new version of the source code, but if the application is useful enough there is a chance that the parent company may make the code public as well.

Open source BI is usually as easy as or even easier than most commercial software to customize. Depending on internal resources, a company can make their own changes, petition the open source community for changes, hire a developer, or do all three depending on the situation.

Filed Under: business intelligence, business intelligence software, open source BI

The Open Source BI (Business Intelligence) Community

April 22, 2009 By SH Leave a Comment

Sometimes when an open source version of business intelligence software is made available to the public, it is the exact same source code as the parent company’s commercial version of the software. Some users, however, would rather buy the commercial version because they believe that this software is more stable than its open source counterpart is. In cases where the code is exactly the same, the fact of the matter is that those users end up missing out on the benefits of becoming a part of the open source community. The community consists not only of users, but typically also includes the code developers and/or employees of the parent company.

Community Resources

The open source community is a great place to ask questions and get support. Open source forums provide a place for users to pose queries or ask for help. There are also opportunities to share new code, tips, and other ideas with the rest of the community. By using the open source community for development and testing, participating companies can achieve a much faster turnaround for a new application.

Being Heard

Open source users typically have more influence in the development of software. They can lobby the community development group for a specific feature or develop one in house and share it with the community, who can then improve it and help work out any bugs. The more a CIO allows his or her organization to become a part of the open source community, the more likely it is that the needs of their company will be met. Ways to integrate into an open source community include making bug fixes, making suggestions, adding to the to-do list, and assigning personnel from the user company to take on a to-do list item. All of these activities contribute to a good working relationship with the rest of the community.

Sharing Changes

When a company makes changes to the source code for internal use, they don’t have to release the new code to the community. However, if the original code is under a GPL license and the company decides to distribute the derivative work, they must also distribute the source code. If they decide to keep the code internal and not share the derivative with the community, they run the risk of having to re-integrate that functionality when a new version of the open source code is made available. If the change is something that everyone can use, then it is more beneficial to release it into the community so that it is carried along with the product when a new version is created.

The open source BI community that is developed when open source software is released is a great incentive for any company to go with open source as opposed to commercial BI software.

Filed Under: business intelligence, business intelligence software, open source BI

Using Open Source BI (Business Intelligence)

March 18, 2009 By SH Leave a Comment

Using open source BI in your business is similar to using any other type of business intelligence: find the right fit for you, initiate the project, and allow time for adoption. One of the many benefits of open source software is that other users are constantly improving it and that you can find support from the community at a moment’s notice. Here you will learn how to get your open source business intelligence initiative started.

Find the Right Fit

Finding the right open source BI for you business takes a bit of research. This requires someone in your company who is knowledge about both the needs of your company and the intricacies of open source software to start scouring the web for all of the options available. Most BI companies have their own specialization in the business intelligence realm, so a search for “reporting” or “data warehousing” will yield different results for the person doing your research. Usually the person best suited to conducting this research will be the head of your IT department. This individual will be able to recognize what will help your company achieve its goals and what won’t. He or she will also want to look at upgrade options and how these options will affect the open source business intelligence software if your company needs to upgrade. Occasionally, companies will need more than open source has to offer and will need to purchase a commercial business intelligence package or upgrades to open source offerings. The person doing your research should make sure that if your company ever reaches that point the transition would be a smooth one.

Initiate Your Business Intelligence Project

Once you find the best open source BI software for your company, you’ll need to start implementing it. Depending on what you’re looking at and how large or new your company is, this could be a relatively quick painless process or it could be a bit more complicated. In either case, it will behoove you to set one person as the point person for the entire project. This person will be able to help you track the benefits of the project, keep the data going into the system clean, and help you decide when and if you might need support for your business intelligence software outside of the open source community. The person can also help with adoption within the company to ensure that the project is a success.

Adoption

Most companies struggle with adoption for their business intelligence initiatives, whether their software is open source or not. Resistance to the project occurs when employees aren’t properly trained on how to use the new system and are left to their own devices. More often than not, they eventually return to old, unreliable systems, simply because they are familiar and provide expected, although error-ridden, results. Your business intelligence point person will be able to train employees on how to use the new system correctly and serve as a go-to person who can answer any questions and deal with any issues as they arise. By having someone well versed in the software available, you will increase the likelihood that your program will be adopted both quickly and correctly.
Once your business intelligence program has been initiated you will start see benefits for your company both short-term and over the long haul. By following these simple steps, you’ll be able to complete the process without any major roadblocks or issues.

Filed Under: BI, business intelligence, business intelligence software, open source BI

Do You Need Open Source Business Intelligence Software?

March 6, 2009 By SH Leave a Comment

Whether or not you need open source business intelligence software depends largely on the needs of your company. Larger companies usually have enough IT professionals to deal with the complexities of business intelligence software, but smaller companies with smaller budgets and fewer employees don’t have that luxury. However, those smaller companies can still enjoy the benefits of BI tools by taking advantage of the flexibility of open source BI.

The Reason for Using Open Source Business Intelligence

What attracts many businesses to open source business intelligence software is that flexibility. It allows a company’s developers to embed business intelligence tools into the application being developed. That flexibility also allows a variety of users from the company, not just IT personnel or developers, to use the reporting tools that come with open source BI. The most advanced open source platforms utilize rich internet applications to increase the level of interactivity for all business users who need to be involved in the report creation process.

Other Reasons to Use Open Source BI

Open source BI can provide you with the tools you need to integrate business intelligence into your company’s day-to-day activities without going over your budget. Open source business intelligence software often comes at a lower cost, partly due to decreased licensing fees. While many companies who offer open source BI tools don’t always offer technical support, there’s no need to worry. A support program can often be purchased at minimal cost. In addition, many open source tools have a variety of users who participate in online forums that can also be a form of technical support without any cost to you at all.

If you’re interested in bringing business intelligence tools to your company, but are concerned about both the cost and the complexity of it, consider open source BI. It will provide you with the flexibility you need and won’t bust your budget. Make your life a little easier, and your company more successful, with open source business intelligence software.

Filed Under: BI, business intelligence, business intelligence software

Business Intelligence and Gut Instinct

February 12, 2009 By SH 2 Comments

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Almost any good businessperson will tell you that predictions based on detailed information are typically more reliable than predictions based on feelings or intuition. The saying “knowledge is power” operates on the premise that if you know more than your competitors do, you can make powerful decisions for your company. Nowadays, businesses are turning to business intelligence (BI) to help them guide their decision-making processes. BI can be a powerful tool, but it is only as strong as the data that the system analyzes. When poor or irrelevant data goes in, poor and irrelevant business intelligence is reported. Often, companies don’t know how to use their business intelligence systems correctly and end up relying on their gut feelings instead of their BI reports. The good news is that you can learn how to leverage your data to get the best possible business intelligence for your company.

One of the first and most important things that companies neglect to do is define their objectives. What do you want to get out of your business intelligence system? What are the factors that drive your business? What type of business decisions do you commonly face? By determining what type of information you’ll need from your system, you can work backwards to decide what data is important for your company, what is useful to have for future reference, and what can be discarded. You can apply this method to sales data, customer information, and other important information that your company has collected.

Once you have determined what data should go into the system, a process needs to be put in place to maintain the cleanliness and usability of the data. Designations must remain consistent in order for your business intelligence system to produce usable BI. For example, if one department is inputs “Male” and another “M” under the same heading, reports crafted to include the information for customers under the “Male” designation will ignore the equally valuable information about customers under the “M” designation. My maintaining consistency across the board, your company will be able to get the information you need, when you need it.

Once you know what you’re looking for and have good data going into your business intelligence system, you can step back and let your system do what it was designed to do. You’ll find that your key decision makers will have to rely less and less on their instincts as they continue to get useful information from their business intelligence reports. By taking just a few steps, you can improve the way your company uses your BI investment.

Filed Under: business intelligence, business intelligence software, data analysis

Business Intelligence Software: CRM

January 26, 2009 By SH 1 Comment

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For many companies a good CRM (Customer Relationship Management) program is a holy grail of sorts. Ideally, a company could implement their business intelligence software to streamline customer interactions allowing for employees to focus their time spend on other business activities , all the while gathering information to use in other business intelligence reports to predict the next big thing. The problem with looking for business intelligence software from that perspective is twofold. First, the company will never find what it’s looking for and secondly, it forgets that a business is its customers. Wise business intelligence professionals have pointed out that the most successful business intelligence programs are ones where realistic expectations have been set internally. Below are a few things to remember when shopping for CRM business intelligence software so that you don’t end up disappointed:

Your Customer
Your customers are going to have as much or more face time with the system you choose than your employees in some cases. Make sure that you pick a software program that is going to appeal to them. Choices are great, but if your customers can’t navigate the system, they’ll probably hang up or log off before you learn what they needed or wanted. Go for customer satisfaction and you’ll never go wrong.

Your Business Intelligence Software Company
The company you pick is going to make a big difference in how easy it is to manage your CRM software. Find a company that can help guide you through the process and is willing to work with you to find the best program for your customers and not just up-sell you on extra bells and whistles. A company that you can work with is going to make it much simpler for you to work with your customers using their software system.

Your People
By choosing a business intelligence software system that is easy to use internally, you can help your employees help your customers more quickly and efficiently. At the end of the day, to provide truly excellent customer service, you need not just a great CRM system, but a great team of customer service representatives who can step in and help the customer if necessary. Your people can get information from your customers that no software system can, but a good CRM system can help you make that information actionable and handle issues or requests that are simple to address. You can learn things from your customers that can help make your CRM better and a good business intelligence software company will help you address those needs as they arise.

Knowing what to expect from your CRM system can help you pick the best one for your company. Just remember your customer, a good business intelligence software provider, and solid support for your system are all very important to your business intelligence initiative and you’ll be on your way to successful CRM that will benefit your company.

Filed Under: business intelligence software, CRM, marketing