BENEFITS OF USING THE DATA WAREHOUSE SOLUTIONS

Data ware house solutions prove to be the best solutions to face the challenges. Now in the age of competition it is difficult to make a decision alone. Decisions should be taken in time.

Suppose that the super market has not implement the data warehouse solutions so at the time of decision it does not know which product is sale in large amount? Which age group attract that product? Is the product gain profit or not?

Every company sale products like laptops, desktops, mobile phones, etc. company contact the supplier before purchasing and confirm the terms of contract. If the discount is not according to the terms and conditions than 2 parties start discussion on that matter.

There are some questions queried to an executive or manager and he has to response this to get an additional edge over his challengers. These queries may not be compulsory to run a business but are compulsory for the existence and growth of the business.

• How to rise the market share of the company by 5%?
• What is the quality of the customer service offered and what improvements are needed?
• Which manager needs help with selling strategies?
• Which product is not doing well in the market?

     

Why is Data Warehouse Crucial?

What is the quality of the customer service provided? This is one of the questions a manager strives to understand. He breaks it down into smaller questions like how many customer feedback did we receive in the last 6 months?  He files a query on the database to analyze. The database holds every customer feedback that it has received.

Manager have to understand that what quality customers expected. To so this he can break the question into many small questions like how many client response did we receive in the last 5 months?  He records a query on the database to examine.

Advantages of using thedata warehouse solutions:

• Regulates data across an organization.
• Make smarter decisions for companies.
• Reduce the cost and remove that product which is not doing well.
• Increases revenue.

ADVANTAGES OF BUSINESS INTELLIGENCE SERVICES

The collection of complex business data refer to the business intelligence. The collection of data particularly related with specific department and the position of the company. Large businesses with huge amounts of data to process are most likely to benefit significantly from business intelligence, though smaller concerns use it, as well. Many companies use business intelligence services to identify the customers, ROI for certain products. Although implementation of business intelligence is expensive but it has significant benefits.

Fact-Based Decisions

Once the company implement business intelligence, management easily see the details of current data like production data, customers’ data and financial data. This information is useful to create the return on investment for products and individuals. So that managers able to make an informed decisions that results in the large profit.

Identifies Opportunities

According to the Journal of Theoretical and Applied Information Technology business intelligence can help a company measure its own abilities; compare its qualified strengths and weaknesses against its opponents; recognize trends and market conditions; and react quickly to change, all to increase a competitive advantage. It help decision makers to make decision quickly and respond according to the situation. It help to identify the most powerful and profitable customers, also help in measuring the details of customers dissatisfaction.

Improves Sales and Negotiations

Business intelligence is a great and important asset for any company. It help to access the reports easily and identify the sales trends, customer’s preferences etc. Complete and present data is also a valued backup to negotiations with suppliers or other vendors.

Eliminates Waste

Business intelligence services help to identify the waste or loss data which may be hidden in large organization. Business intelligence services help to identify the areas which increase the efficiency of business analyze the transaction between the departments.

ENHANCE BUSINESS OUTCOME WITH BIG DATA ANALYTICS SOLUTIONS

Big data analytics tools are very important for the business agenda. Managers see high investment on big data from technology leaders like IBM and Hewlett-Packard.

How to Benefit from Big Data

Companies have to get powers in three areas in order to improve the performance of business with bigdata analytics tools.

1. Multiple Data Sources

Productively source internal and external data.

For easy integration of data elevate IT architecture and infrastructure.

2. Prediction and Optimization Models

Emphasize on the factors that improve the performance.

Create models that are easy to use for the balance of complications.

3. Organizational Transformation

Build simple and logical tools for the people who are working on the front lines.

Give training to people in order to use that tools in effective way.

Choose the Right Data

Over the previous few years, the world of data has changed. Social media and machine sensors play vital role in the generating sheer volume of information. Combining the data helps in the better understanding.  Now the information can accessed from anywhere at any time. So the main thing is to choose right data for the betterment of business. Business Intelligence services help in the selection of right information or data. By using big data analytics tools you can easily recognize useful and important information from large volume of information.

Build Models That Predict and Optimize Business Outcomes

To increase the performance and outcomes use big data analytics tools. Today Data is very important, build models that identify and determine the importance of data and measure the performance. Data mining is a simple approach to get the important results. Corralling huge data proves ineffective if managers not use it in a proper and effective way.  One company use more than one strategy to enhance the business outcome. They can do this by evaluating the results from the past, by identifying the factors which influence price of products, sales data, and competitors. 

HOW THE BI MARKET WILL BE AFFECTED

Over the last some years, the BI landscape has improved dramatically.  A market that was once made up of a dozen or so key retailers, each with a different asset, has now become an industry of just a few heavy-hitters and a series of smaller, niche players. 

The business management application dealers understood that BI was no longer a nice extra, it was a severe factor of any business technology design.  And, without fully integrated Business Intelligence Services functionality, their way out would offer only limited value. 

But, instead of making their own reporting and analysis tools internal, they compulsory present solutions with a confirmed track record of success.  Oracle bought Hyperion.  SAP, a company that formerly escaped large achievements and prided itself on its organic growth, took over Business Objects.  And, IBM bought up industry leader Cognos. 

Some experts forecast many concerns over the next some years.  For example, in a struggle to convey value to as many companies as possible, the BI dealers had organized their solutions to incorporate with most of the general and widely used business systems.  

In fact, most BI retailers had designed strong partnerships with the leading application workers. What happens if an Oracle client wants to use Cognos for performance management, or an IBM shop selects Business Objects for operative reporting?  But now, we are possibly to see a conflict of interest which will pose vast problems when it comes to designWill the solutions still be able to work organized as well as they used to?  

Or will these companies basically package their BI Services functionality with their current donations, leaving buyers with restricted choices when it comes to reporting tools? Many industry experts also wonder, with the SAPs and IBMs of the world running out of purchase choices, how they will they retain their Business Intelligence Solutions sets current.  It is estimated that, with so many other lines of business to emphasis on, the improvement of BI offerings will fall low on the significance scale for these businesses.    

Many wonder how these businesses will persist amongst this new environment.  But the truth is, those that still happen after the mergers and acquisitions are over have a wonderful opportunity to occur as the modernizers. They will shape the future of BI, constantly expanding and improving their solutions with the modern cutting-edge structures and functionality.  And, as companies understand that BI is only too important to just uphold the “status quo”, this is what specialists believe will enable the smaller firms to persist competitive, give the “big guns” a run for their money, and save themselves from destruction.

TEN WAYS BI HELP YOUR ORGANIZATIONS

The industry experts touch on a multiplicity of convincing benefits that give across different business functions, from marketing to sales to customer service.

Ten ways business intelligence services can progress your organization.

·         Derive knowledge from a sea of data.

Today Business intelligence is more significant than ever. Businesses are finding it a challenge to translate significant insights out of it all. Improving performance, delivering on customer promises, and building long term client relationships are some of the benefits of BI.

·                   Understand what drives revenue for your business.

 Business intelligence is significant where and how media channels and through articles, videos, ads, podcast, etc. your ideal client consumes their data, what is going to drive them to buying and pledge, and performing a plan to take benefit of that knowledge.

·                    Identify your sales policy and anticipate oppositions.

 Usually, sales teams research data to be prepared for complaints definite to a company’s situation. If you are part of a sales team than you have to identify a sales policy, also you will seem more honest in understanding the problems this company in sale.

·                   Determine "why" and what inspires customer performance. 

To understand customers’ requirements and correct problems, they need first understand why a phenomenon is trendy, relatively than go with an instant feeling.

·                   Define the ROI of your marketing strategy.

Business intelligence services is vital in helping small businesses figure out if the marketing strategy they have capitalized in is producing ROI. Reports can tell you something is working or not?

·                    Avoid holdups and problems in a fragile market. 

Business intelligence is not just about following KPIs (key performance indicators) once a month or quarter. BI comprises estimating to avoid holdups and provide faultless timing for decision making such as buying or new hires.

Generate a more effective business model.

The internet and the constant growth of e-commerce have saturated every market. You want clothing, furniture, even food?  For business owners, this means making smart decisions Business intelligence lets you do that.

·                   Get a single, combined view of your clients.

Business intelligence is having access to all your business data, irrespective of platform, in a singular, unified dashboard. Without a single combined view of the customer, it would be problematic to know how to best address them, or meet their needs.

·                   Track your inventory and capitalize on trends.

 Retailers and brands need to know where their inventory is located. Analytics provides this insight to buyers and executives so they can benefit from on buying trends.
 Build your brand in a competitive, complex retail environment.

In this courageous new world, only those brands with the greatest measurements will be able to increase understanding into human behavior that really helps them build their brands.