Panorama Necto™ First to Bring Social Media from the Consumer Realm into Enterprise Business Applications

BI Revolution Marks a New Way to Interact with Data – Leveraging the Power of Many to Make Faster and Better Decisions

Toronto, ON (March 22, 2011) – Panorama Software, a global leader in proactive Business Intelligence (BI) solutions,  today unveiled its plans for its newest product, Panorama Necto, the industry’s first socially-enabled BI solution.

Panorama Necto is a new way to connect data, insights, and people in the organization. It enables business knowledge sharing among different users and across corporate units based on a business-oriented social platform.

Companies increasingly focus on how to enable business users to make better real-time decisions as quickly as possible. While many solutions offer collaboration on documents, they do not provide a true knowledge sharing environment that is both tied into actual analytical data and is suggestive by nature. Panorama Necto enables social interaction for any specific report, KPI, chart, all the way to a single data cell.

Panorama Necto tracks individual user’s interests, and intelligently suggests other networked users who are pursuing similar business goals. It also indicates who are  the users that are relevant to the task at hand.  As discussion between these two (or more) previously unconnected users grows, the system records and organizes their work to allow it to be retrieved in the future. The meta-data created in this process is tied to the Business Intelligence data that triggered the building of such insight, and aids workers across all levels in their decision making and planning.

Panorama Necto enables mentoring throughout the organization, with users having the ability to “subscribe” to others in order to follow the viewpoints and strategies of these selected users. Executive management that desires visibility into new business units can identify and follow the top performers to gain on-the-ground insights.

The product offers several practical applications for multiple business units. For example, improved collaboration among sales teams, including the creation of a database of business knowledge to help with sales-centric customer issues or complaints. Social BI allows executive management more advanced tools to keep them focused on core business goals, and provides insights into performance measurement and management. Ad hoc teams can use Necto to quickly form cohesive units through the sharing of multiple data sources and use of easier and more insightful collaboration tools.

“By integrating valuable social tools with our leading BI solution, we remain at the innovation forefront of our industry,” said Eynav Azarya, CEO of Panorama Software. “Necto is a huge leap forward as the first socially-enabled enterprise application. It applies the power of social media to the critical tasks of data analysis and decision making. We are bringing the social tools that are so prevalent and useful in the consumer world into a business climate. Social learning in business allows true collaboration on a different plane that is simply not possible in traditional business intelligence solutions.”

Traditional BI gives users a solution to their need to analyze information contained in multiple tools or forms. Once this issue has been solved, the real issue becomes that of knowing who are the internal and external partners with whom you can freely share information and insights, and who are your  best allies in making decisions. Necto solves the next stage of information analysis by enabling true collaboration and group insight.

Current customers of Panorama’s industry-leading NovaView BI solution can easily migrate to the Panorama Necto platform to immediately begin using its social capabilities.

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