Business Intelligence Software are applications that build on existing data warehouses and provide analytical processing tools that allow users to more effectively analyze such data. This, in turn, permits businesses to more rapidly develop existing and new analyses and reports for improved decision-making power and information dissemination capacity.
F U E L I N G B E T T E R D E C I S I O N S
Business Intelligence Software:
What It Is and Why It Is Necessary
Oscar Rodriguez, Chief Financial Of? cerWorldTelemetry, Inc.
Geoffery Simpson, Manager of Software Developement WorldTelemetry, Inc. W H I T E P A P E R
Abstract Reducing the Cost of Analyses
Business Intelligence Software are applica- People are continually overwhelmed with tions that build on existing data warehouses information. Every business, no matter how and provide analytical processing tools that small, produces large quantities of data that allow users to more effectively analyze need analysis. Operationally, structurally and such data. This, in turn, permits businesses financially, all companies generate analytical to more rapidly develop existing and new reports that are often time-consuming, costly analyses and reports for improved decision- and untimely. BIS applications that rapidly making power and information dissemina- develop updated analytical reports provide tion capacity. companies with the necessary tools to iden-
By generating valuable information from tify the best actions and best strategies to page multiple sources, companies can increase implement.
1 their competitive edge, provide better ser-vice, streamline operations and make bet- The most important factors impacting the
ter business decisions for increased profits. costs associated with analysis are:
Business Intelligence Software enables com-panies to quickly sort through large amounts . The amount of manual labor involved in
of data and use that data to detect trends and producing the analyses: The more manu-
patterns. Business Intelligence Software also al labor is involved, the more room there
provides companies with effective analytical is for improving the process (i.e. replace
modeling tools that more accurately predict manual processes with automated pro-
the financial impact of future actions than cesses).
manually generated projections. . The number of analysts needed: Good The economics of managing fuel storage is analysts tend to be a scarce and expen-a complex business. An end-to-end solution sive resource for most corporations. The that gathers accurate, timely data and pro- more projects and activities they can be vides automatic analysis allows managers stretched across, the better; so it makes to make the best decisions possible while sense to give them the tools to make utilizing all available information. their work easier and quicker.F U E L I N G B E T T E R D E C I S I O N S
. The frequency of analysis: The more fre- differences in judgment to clerical errors quently a periodical or recurring analysis and personal agendas that dictate who in the is required, the greater the benefits become organization gets information and when. This that are associated with automating it (i.e. combination of inconsistencies causes indi-create the supporting work once, the up- viduals to relate to different sets of numbers ? dates will be automated). hampering effective decision-making.
By utilizing Business Intelligence (BI), com- Good analysts are a rare and expensive re-panies have the ability to gather and use infor- source. It makes financial sense to give them mation to maintain their competitive advan- secure and manageable BIS tools to make their tage in the market place. Business Intelligence work easier, quicker and more reliable, while Software (BIS) enables companies to quickly assuring automated distribution to all those gather all the data, analyze the information and with a need to know in the organization.then make recommendations that are carried out in a timely manner. This, in turn, helps management track statistics in order to under- Turning Data into Business Goldstand and operate the company more effec-tively, while promoting growth. Many companies have some automated re-porting already in place. BIS provides the
Sadly, many businesses continue to produce layer that has been missing from most data
their analytical reports manually. The chal- gathering systems, including Supervisory
lenges associated with manual analysis include Control and Data Acquisition (SCADA). BIS
not only the labor costs associated with hir- combines statistical analysis, mathemati-
ing analysts or keeping analysts on sta... [download for more]
