Business intelligence (BI) is an essential element to the success of any organisation.
Without fully understanding the data within the business, without a true understanding of its operational performance (or lack thereof), reliable and effective strategies cannot be built. In the wake of Industry 4.0, savvy enterprises are asking how they can experience a new level of trusted insight. They are seeking solutions that are faster than legacy BI and far more powerful than traditional data discovery.
The answer is networked BI, which was developed to help organisations move beyond centralised and decentralised analytics. Networked BI comprises an innovative approach to analytics. The premise of this solution is that trusted and well-governed data is not mutually exclusive to fast turn-around or a user-friendly platform.
According to an Infor White Paper entitled The Future of BI is Networked; “It leverages new capabilities made available by modern technologies like Cloud computing – multi-tenancy, virtualisation, and web-scale architectures – to combine the centralised and decentralised models of BI, delivering the best aspects of end-user self-service without analytical silos.”
To achieve this, Infor utilises Birst, which offers patented technology that allows users to reap real-time insight from diverse data sources. With this information at hand, businesses gain a competitive edge in the global marketplace. The solution has been proven to deliver increased revenue, reduced operational costs, and greater customer engagement and satisfaction. The result is a greater ability to reach business targets across multiple industries and geographies. With efficient deployment structures and ease of use, most customers are live on the product within three months.
Using patented technologies, the solution puts the power of analytics in the hands of every information worker. There are seven critical requirements to ensure success with BI.
Firstly, solutions that support a networked BI model must swiftly unify data within and across a multitude of varied data sources, presenting them as if they were a single source. It must also be able to analyse complex business processes and business models, while blending centralised and decentralised data and analytical content. The solution must create and maintain reusable metrics and definitions, offering a single set of tailored business definitions that everyone can use. Role-specific analytical tools must empower users, delivering fast time to value. Lastly, both the number of users and the volume of data must be scalable.
In conclusion, the White Paper confirms that; “The evolution of the BI space, along with the emergence and large-scale adoption of technologies like Cloud computing, enable modern alternatives to traditional analytics that present exciting opportunities. Networked BI will reshape how we think about enterprise analytics. It will enable IT leaders to extend the adoption of BI across the enterprise with confidence.”
Adriaan Rossouw is an Executive at EOH Infor Services (formerly Softworx), Infor’s Master Partner in Africa, operating as a Gold Partner.