Panorama Business Intelligence

Traditional business intelligence has been criticized as ineffective due to its clunky nature and reliance on IT and analysts. Luckily for companies looking to leverage their stored business data to make better decisions, the next-generation of business intelligence technology is none of these things.

Dubbed Business Intelligence 3.0, Forrester Research analyst James Kobielus recently hosted a webinar with Panorama Software to discuss the next generation of Business Intelligence solutions.

“IT is starting to turn into a bottleneck in the flow of intelligence. And users are getting frustrated because accessing necessary content is difficult, because it takes a while to discover new sources and import that information into your data warehouse,” Kobielus said during the webinar.

With BI 3.0, he said, the goal is to empower end-users, unlike traditional analytics models where business managers in need of data reports are fully reliant on the IT department. That’s because next-generation BI is built on three main tenets – Self-Service, Relevant and Social.

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The recent Microsoft Worldwide Partner Conference 2011, held in Los Angeles last week, was a huge event for us here at Panorama Software. In addition to celebrating and reaffirming our continued partnership with Microsoft, we hosted a session of our own and had the honor of presenting at two others (click here to view the presentation archive).

The conference gave us another chance to demonstrate the cutting edge of business intelligence technology – Panorama Necto – in the Microsoft Expo Hall Theater. The solution was front and center during our discussion session, where we outlined the benefits of social business intelligence and how it will factor into the future of making better decisions.

As guest speakers, we presented at two other sessions focused on how business intelligence can help small- and medium-sized businesses grow and the importance of a strong SQL Server offering for cloud-based business. At these events Panorama did what it does best – promote the benefits of business intelligence.

Discussions at the sessions ranged from how SMBs can leverage their business data to what’s in store next for Microsoft’s SQL Server and how it will affect the future of the cloud.

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After years of minor, incremental advances in how we perceive and use BI, we are now witnessing a resurgence in the way we utilize BI in organizations. This is often dubbed “BI 3.0″ – the new generation of BI solutions.

Initially, BI – or, more accurately, BI 1.0 – was about how to present data. As users, we were mainly focused on how to best store our ever-escalating amounts of data, and how to enable know-how specialists (aka BI analysts) to sift through it so they can provide management with valuable information for decision-making..

Utilization of computer tools for business users and managers alike proliferated in the years since. Managers were not content with receiving information weeks after the fact and wanted to know what happens in real time. For this reason, BI 2.0 was introduced. It brought us new tools such as Dashboards, KPIs and Scorecards, and moved us slightly away from looking at the actual data. It allowed us to give users just the information that is interesting to them, but only if it is predefined (aka hardcoded).

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Speaking with a multitude of esteemed colleagues at the recent Smart CIO 2011 conference, it quickly became clear that going social is the best way to create even smarter businesses during these uncertain economic times.

That was the focus of a discussion I had with fellow experts, among them Yechiel Gafner, the chief information officer of Clalit, the leading healthcare provider in Israel, and Shlomo Shamay, the CIO of top insurance provider the Phoenix, during the gathering. As we at Panorama Software firmly believe, social business intelligence is the best means of gathering insights from within an organization and making decisions based off various ideas.

Given our recent release of one of the most innovative social BI solutions on the market, Panorama Necto, it was easy to speak from experience on the benefits of opening an analytics platform to a wider range of employees. The system is unlike any other currently on the market. Building off three key principles – social, self-service and relevancy – Panorama Necto delivers an all-new experience for business intelligence users.

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