Tag: BI

The Pros & Cons of Data Warehouses

Posted on May 7, 2015 by - Big Data, Blog, General, Reporting

Your BI solution’s data warehouse (DW) serves as one of the initial checkpoints for your important business data. Your DW is a repository where your data is stored electronically before the data is able to be reported and analyzed. As a whole, this portion of you BI solution is also in charge of loading, managing and extracting this data.

While this tool is certainly useful for many businesses, not every type of DW is relevant to your business makeup or industry, even. This is why, in this post, we’re going to break down the essential pros and cons of data warehousing, to ensure you make the right choice when choosing yours.

PROS of Data Warehousing

– Speedy Data Retrieving

How many times have you had a piece of information that you wanted to retrieve, but forgot where it was placed? Once you input your information into your DW,  you will never lose track of this data again. By conducting a quick search, you’ll be able to find the statistic and further analyze it — without having to waste time in your search.

– Error Identification & Correction

Many of us have the natural tendency to skip over dotting the I’s and crossing the T’s when inputting raw information, but data warehouses help eliminate user oversight. Before loading data, your data warehouse makes it a point to show you inconsistencies and correct them. This is extremely helpful for those who may be careless or hasty when it comes to gathering data.

– Easy Integration

Your DW also adds value to operational business applications like CRM systems when the warehouse is successfully integrated. The complexity of its makeup allows a data warehouse to translate the information in a more simple, digestible format to the point where your team members can easily understand what’s been placed in front of them.

CONS of Data Warehousing

– Time Consuming Preparation

While a major part of a data warehouse’s responsibility is to simplify your business data, most of the work that will have to be done on your part is inputting the raw data. Now, while the job the DW does for you is helpful and extremely convenient, this is the most work you’ll have to manually perform, as the DW performs many other functions for you.

– Difficulty in Compatibility

Depending on the system you currently have in place, the use of data warehouse technology could likely require a helping hand from an independent BI team. With the intricacies of operating systems, software and programs, it can be difficult for a business owner to figure out how to properly make use of their data warehouse. Especially since the costs of these tools are investments in your business, you’ll want to ensure that your system is working exactly the way you intend it to.

– Maintenance Costs

One of the pros and cons of your DW is its ability to consistently update. This is great for the business owner who wants the best and latest features, however these upgrades don’t usually come cheap.

Including regular maintenance for your system, you can expect to shell out more than your initial investment should you want to have the latest technology at your fingertips.

– Limited Use Due to Confidential Information

If you have sensitive data that should only be viewable from a certain staff members,  your DW’s use will be limited. In order to maintain the security of your current system, less usage could eventually decrease the overall value of your data warehouse.

No matter your needs or concerns, our specialists at Business Impact look forward to helping you make the right decision when it comes to selecting the right BI solution for your company. Contact us today to learn more about how we can help your organization get the most out of its business intelligence solution.

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3 Common Struggles for Big Data Users

Posted on May 1, 2015 by - Big Data, Blog, General

It’s easy to get caught up in the hype of all the potential options for your company’s business intelligence solution. And once you finally select the software that suits your needs, it may take some time to get acclimated to its interface and detailed components. Often times, even if you believe you’ve found the right BI solution, you may struggle to finalize the absolute perfect way to manage big data.

Struggles are common for those new to big data, but its full potential makes it worth the trouble.

It’s one thing to embrace its importance but it’s another thing entirely to fully optimize your solution to make use of all of your statistics in a clear, intuitive way. Below, we’ll address the most common factors that managers struggle to master and understand when it comes to business intelligence.

Dispersed Data

According to a report from Capgemini Consulting, less than 15% of companies have fully optimized their big data initiatives. The same report also noted that 4 out of 5 businesses have yet to integrate their data sources to every department within their organization. This proves to be a problem due to these companies’ inability to amass all of their data from each individual team.

A comprehensive BI solution allows executives to extract the information they need quickly because all of the organization’s information is conveniently amassed into one central location, encompassing every department.

With most businesses not taking advantage of this ability, it leads to more time being spent gathering and less time analyzing. Synchronizing your BI solution to include every department allows you to make important decisions quicker and with more confidence.

Trouble Joining Forces Among Departments

Depending on the size of your organization, analytics will likely involve the participation of each department. From sales to inventory to beyond, each number serves as an important detail that shouldn’t be overlooked.

Business team working togetherIt’s issues like these that require strong leadership to stress the importance of your data collection efforts. Once you’ve selected a BI solution that can achieve all of your goals, it’s then your turn to explain to each department how, why and when to input their respective data.

With this cooperation, it makes it easier to make goals from the executive level.  Perhaps appointing a leader within each department can aid you in solving the issue of having disorganized team involvement when it comes to your most important data needs.

Adjusting from Your Old Methods

Let’s face it, change is scary. And in the world of business, it’s just as frightening to make the leap to new technology, even though its intention is to simplify your world. If you’re just now getting on board with a BI solution, there remains a lot to learn with new tactics, strategies and capabilities that blow traditional programs like Excel out the water.

Having a pessimistic view of this change is natural, but it’s more productive when you embrace the positive changes that will come when it’s time to break down your big data. It’s times like these where having an independent BI team can significantly work to your advantage.

Making use of your relationship with a third party allows you to take a backseat on analytics while still giving you the necessary information you need to make sound decisions. These teams aim to simply make data work for you and not against.

In addition to this team, you could also organize a group within your organization, made up of leaders from each department, to discuss weekly trends so everyone in your company is kept in the loop.

For more information on how to maximize your data collection efforts or to help optimize your current BI solution, contact one of our specialists today!

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3 Big Data Trends Changing the Game

Posted on April 13, 2015 by - Big Data, Blog, cloud BI, General

Having more NEW ways to visualize your business data helps executives understand what changes need to be made moving forward. In the industry of big data, there are many moving parts that are working together to provide businesses with an easier method to track their company operations. As we get deeper into the culture of interconnectivity, the value of having readable, statistical data rises to the top of an executive’s needs.

And these brand new ideas are popping up every day. To help you keep track of the latest updates in the data collection industry, we’ve outlined the latest big data trends that seem to be gaining the most traction as of late.

Analytics Are on the Rise

What’s a successful business without proper planning, anyway? By being able to read your data with a convenient big data tool, you’re improving your chances to make the right business choices that grow your earnings. Often times, it’s not the data itself that makes the difference in how you approach tough decisions, but rather how it’s presented.

With the help of today’s technology, ERP systems and business intelligence tools alike are presenting your company data in ways that are easy to visualize and digest. By using these tools more often, businesses can expect easier, more efficient forecasting with the ability to properly analyze the recent months of transactions.

Cloud Capability

As you may already be aware, data storage in the cloud is becoming increasingly popular due to how easy it is to use. By being able to connect to your information from any device with internet access to reducing your need to have a physical storage room for your many clients, cloud technology has really taken off as an inevitable trend for the future.

In fact, for the next three years, public cloud usage is predicted to grow 44% whereas the usage of on-premise computing workloads is expected to only grow 8.9%.

Plus, the number of data analytic tools in the cloud are on the rise. With major names like Amazon entering the market, it’s only a matter of time before more big names offer widely-accessible tools to store your information.

So with the future of this wireless technology looking promising and its perks being inevitable for small and medium-sized businesses, it can be expected that this type of data storage is here to stay for the longterm.

IoT (Internet of Things)

The progression of business and personal technology has brought us, as a society, to the IoT — the Internet of Things. This concept is practically the symbiotic relationship between all devices from your computers to the tools your IT team uses to your POS system.

The relationship they all have with one another is something that we can expect to be enhanced in the near future. It’s being done already. For instance, If you have a computer that can wirelessly send a message to your printer, then this, on a small scale, is what we can expect among more devices.

The Internet of Things (IoT) is a quickly growing trend that's sychronizes many technologies to simplify business operations.What’s the benefit? The rise of IoT can lead to less human interaction with the devices we use in the workplace. From ordering and restocking your storage room when inventory gets low to changing business practices once sales slow down, the Internet of Things allows the technology around you to run on auto-pilot while you can focus on running your business and managing more difficult tasks.

While new trends come to light and become popular in the business world, running your company will eventually become easier and require less work done physically in the office.

As one of the premier business intelligence providers, our team takes pride in helping executives achieve their data collection, analysis and visualization goals — no matter their current technology. For more on how we can improve your big data goals, contact one of our representatives today!

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What Is ERP?

Posted on April 9, 2015 by - Big Data, Blog, cloud BI, Ross

If you’re now considering acquiring an ERP solution to implement into your current business structure, you’re in for a treat. It’s likely that you find your accounting, inventory control or product planning figures to be in disarray and you need a simple solution to have it all in one convenient place. With today’s landscape of business intelligence options, there’s many innovative software on the market to help you simplify the way you collect your big data.

At Business Impact, we understand the importance of having the proper data collection strategy and how crucial it is to your company’s operations. With that said, we’d like to break down the basics of the software that is enterprise resource planning — or more commonly known as ERP.

Enterprise Resource Planning is a helpful data collection tool that makes it easier for your business to make sound business decisions.

What Is ERP?

ERP is essentially the gathering of back-office information using a business process management software. Data collection for ERP is brought to the user via modules that focus on several business figures. They likely cater to important company features like product purchasing, product planning, distribution, accounting, marketing, human resources, finance and inventory. More specifically, an EPM (enterprise performance management) would focus on tracking your budget’s purpose and execution.

Why Is ERP Essential?

How many times have you had to crunch end-of-the-quarter numbers and have had a tough time sorting out your numbers on an Excel spreadsheet? Perhaps you have all the information you need to make forward-thinking business decisions, but all of the data is hard to assemble in one format. Here lies the beauty of having an ERP software.

In addition to saving you crucial company time from going back and forth between documents, web browser tabs or computer programs, an ERP solution gives you the ability to analyze your data with all of it right in front of you. As you designate which ERP modules you’d like to focus on, you’ll now have the ability to improve your company’s data flow with streamlined business intelligence.

Furthermore, most ERP software systems utilize the best practices feature which shows the user potential plans of actions using the information it has collected. Implementing the right ERP solution serves to benefit everyone involved: decision makers, employees in the field, consumers and business partners.

Gain complete integration across
From front-end to back-end processes to forecasts to production, you should have real-time statistics that cater to each quantitative area of business.

Enhance productivity with automation
Eliminate the need to balance your data with a software that organizes and displays the figures for you.

Increase company performance
Optimize your decision-making and keep your staff up-to-date with the latest information to ensure well-informed company operations.

Create quality reports & performance analysis
Rather than taking company time out to map out the latest quarter’s earnings, simply use your ERP software to extract the data. Plus, the use of your graphs and charts will make it easier for you to review a team or individual’s performance.

Simplifying your big data into readable charts and graphs will save your team ample amounts of time spent on analyzing statistics.

What Business Impact Can Do with Your ERP

Here at Business Impact, our team can revolutionize your data collection strategy no matter what software your company currently uses. As specialists in the Ross ERP system (now Aptean), we’re able to build additional BI solutions to be used within the software application.

After all, we understand the importance of being able to analyze your data without having to ask your IT staff for assistance. As our focus is on helping companies achieve simple, accurate and up-to-date information, we stop at nothing to ensure your ERP and BI solution provides the data you need to make solid business decisions.

As you prepare to choose which ERP solution you’d like to use, there are a few kind that are available on the market today. From large enterprise to mid-market to small business to mobile-friendly to cloud-based to two-tier ERPs, there are options out there to suit your exact need. Contact one of our representatives TODAY to discuss which one is right for your business.

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