In the previous posts in the Business Intelligence series, we caught a glimpse of the business benefits of ERP with built-in Business Intelligence and explored the various features they have to offer to the users. Now we will touch upon some of the latest happenings in the BI application market and see where these Business Intelligence applications are headed in the immediate future.
- Big Data
- With new formats of data flooding the markets, big data analytics manages to derive actionable insights from raw, unstructured & non-traditional data sources. This data can be in high-volume, high velocity or variety. Big data gives the organizations a chance to react to the changing trends much faster and better.
- What are some commonly observed Benefits of the Shared Services Support?
- In-memory computing technology reduces the load of disk storage and thus has proved to be extremely efficient. With less time lags and lighter deployments, users are able to easily share, access and analyze data like never before.
- Social & Content Analytics
- With large pools of content being generated across the internet and especially over the social media these days, social analytics has become the key to get the insights about customer spending patterns, sentiments, consumption trends and much more. Text analytics and customer experience tracking have also gained importance.
- Cloud based ERP & BI
- A growing number of organizations are looking to minimize their IT infrastructure by opting for Cloud based ERP and Business Intelligence SaaS applications. They offer better ROI in the long run and added stability than the on-premise setup.
There are third-party business Intelligence tools available in the markets today. But integrating them with your existing ERP setup to extract all the transactional data is an uphill task. It is far easier to procure an ERP system with built-in analytics and mobility features. Almost all Tier-1 ERP Vendors offer ERP systems with built-in analytics. Seamless integration between your ERP and BI applications translates into smoother user experience and adaptability.
Even the small and mid-sized businesses can now take advantage of Business Analytics and BI platforms without having to spend a fortune. ERP solutions are now being developed and priced for the SME markets. They offer just the right BI features for your industry needs and are extremely hassle-free to deploy.
Every business that wants to stay ahead of the competition and look ahead of the technology curve must leverage Business Intelligence Tools for their business.