The Wikipedia definition of Business Intelligence is:
Business intelligence (BI) refers to skills, technologies, applications and practices used to help a business acquire a better understanding of its commercial context. Business intelligence may also refer to the collected information itself.
BI technologies provide historical, current, and predictive views of business operations. Common functions of business intelligence technologies are reporting, OLAP, analytics, data mining, business performance management, benchmarks, text mining, and predictive analytics.
Business intelligence often aims to support better business decision-making. Thus a BI system can be called a decision support system (DSS).
Why is this important for you? A 2009 Gartner Group paper "Gartner Reveals Five Business Intelligence Predictions for 2009 and Beyond", predicts:
- At least 35 per cent of the top 5,000 global companies will fail to make insightful decisions about significant changes in their business and markets due to a lack of information, processes and tools.
- By 2012, business units will control at least 40 per cent of the total budget for business intelligence.
- By 2012, one-third of analytic applications applied to business processes will be delivered through coarse-grained application mashups. (Mashups are web applications that combines data or functionality from two or more sources into a single integrated application.)
Thus Business Intelligence, also known as competitive intelligence, provides solutions that empower enterprises to unlock the value hidden in their data to obtain real customers insights. Data from many sources can be combined to enable analysis of trends, drill down and correlations to help identify improvement opportunities and performance monitoring.
How can we help?Asparona has people trained and experienced in the Oracle Business Intelligence Suite including products such as Hyperion, Oracle Business Intelligence Suite Enterprise Edition (OBIEE Plus), BI Apps for Oracle E-Business Suite and PeopleSoft and Oracle Data Integrator (ODI). Our people are trained in structured methodologies to work with you to extract the value hidden in your data at a competitive ROI. We are happy to run projects using a collaborative modular approach or turn-key solution, or any combination in between.
We also provide platform and application implementation and upgrade services for OBIEE, ODI and BI Apps for Oracle E-Business Suite and PeopleSoft customers, and upgrade services for existing Siebel Analytics customers.
Our Managed Services team can help you to support these applications, to whatever level and coverage you choose. We can provide 24x7x365 cover, if you require, or just periodic tune-ups and health checks. We can also help your project timetable by providing round the clock development services.