The success of an organization depends on the method and speed of responding to changing market conditions. Therefore, Business Intelligence is often defined as the array of processes and technologies that turn information into insight and action, to effectively understand, predict, optimize, and prepare to take action upon current and future business activity.
BI applications find their way into a vast range of business areas including CRM, ERP, financial management, etc. They employ technologies such as: data mining, text mining, geographic information systems, language translation, statistical analysis, predictive modeling, simulation, and advanced visualization.
Business Intelligence software allows companies to access their databases and deliver insights to employees, managers and business partners. The insights provided by BI then turn into actions as companies use BI applications to find new opportunities, reduce costs, reallocate resources and improve operational efficiency.
BI applications allow business persons to make informed decisions by providing timely, relevant and accurate answers to business questions. They do so with the help of analytical insights ranging from intuitive, graphical dashboards to highly formatted operational reports.
Better business decisions with SocrateBI
SocrateBI is a latest generation business intelligence solution designed for companies of all sizes interested in having an integrated reporting, analysis and notification solution. SocrateBI is developed on MicroStrategy platform, recognized as being the most performant and scalable in the industry. SocrateBI includes Microstrategy OEM platform, Socrate DW (Data Warehouse), Socrate ETL (ETL components) and a standard BI suite/modules which can be extended and adapted to each client: Financial Reporting Analysis Module (FRAM), Sales and Customer Analysis Module (SCAM), Project Controlling Analysis Module (PCAM) and Inventory and Stocks Analysis Module (ISAM). Operational databases of tens of gigabytes give the possibility to thousands of users to have access to SocrateBI reports without waiting for data. Reports use advanced formatting such as thresholds to highlight important trends, page-by to have quick access to aggregated information, graphs such as bars, pie, areas lines to show information more meaningful. Users can combine data form different sources in one single HTML document which can show in a graphical format at a higher level, offering this way a new visualization mode easier to understand. Graphs, tables, texts and specific images can be combined for creating an overview image of the key performance indicators (KPIs).
The business performance improvement cycle
Improving business performance often starts with setting priorities, by answering questions such as: Which business areas need the most attention? In which areas can results be enhanced with reasonable resources and effort? Through the use of BI Applications, organizations gain improved insight and make more rational resource prioritization decisions each day. By monitoring business results and fine-tuning business actions, organizations create a system and culture of continuous performance improvement.
By using SocrateBI, managers will be able to take more informed decisions with timely, data-driven answers to business questions, forecast business opportunities, build stronger customer relationships, monitor trends and discover anomalies, optimize revenue-generating strategies and more.
