Business Intelligence and Data Warehousing can be considered to be opposite faces of a solitary coin. To Succeed, it has become necessary to effectively track, measure and evaluate key performance indicators (KPIs) and to do so requires the development of a reliable data warehouse. Only when the data warehouse is complete, the tools of business intelligence will be most efficient. And efficiency is key in order to successfully evaluate, respond to queries and produce relevant information.
When the challenges of identifying relevant KPIs and deploying a quality business intelligence system are achieved, you will be well-positioned to realize the greater objective of closing the loop between data and actionable information.
What gets measured gets results
It is no surprise that technologies like Business Intelligence (BI) are increasingly important in helping firms to gain a competitive edge on their competitors. Information is power and it has been demonstrated that the simple act of measuring a process improves performance by 10%. Results are even better when someone is responsible for the performance of the same process.
Today’s progressive organizations depend on analytic applications more than ever to provide vital insight. Whether the focus is creating the appropriate sales structures, growing profits or establishing and launching brand-new offerings, BI can help organizations to successfully assess the past and plan for the future.
Which business intelligence platform is right for me?
Before selecting a business intelligence system, an introspective look at what your ultimate goal is. Many organizations choose a BI software application without carefully considering exactly what they need and what the software application will provide. With business intelligence, not all solutions are equal. Cheap systems often do not have the flexibility to handle the diversity of data and data sources while the more expensive solutions can take an unreasonable amount of time and resources to deploy. It is important to find a balance between cost and functionality in deciding which solution is best for your company.
Niche specific platforms – The Mortgage Industry
Movation, the leading Mortgage Business Intelligence platform created by Motivity Solutions is an example of a comprehensive business intelligence system that delivers a complete selection of analytic and reporting abilities. Targeted for scalability, data integrity, and performance, Movation shortens configuration and deployment timetables by tailoring their system to the specific and regulatory needs unique to the mortgage industry. This type of specialization has proven to be a winning formula for the BI provider, Motivity Solutions, and for their clients.
BI technologies provide past, current and future insights into company operations. Business Intelligence tools allow us to slice, dice, and summarize info, so it can be presented in a meaningful way.