Social business intelligence taken to the next level

Plenty of innovations have been introduced to the business intelligence market in recent years, but none, perhaps, have had an impact as great as social business intelligence. Playing off the benefits of collaboration, social BI adds value to reporting on company information by pooling thoughts and ideas from across an organization.

Traditionally, business intelligence has been a complex technology, and only a select few employees within a company possessed the necessary knowledge to use a platform. However, the introduction of social business intelligence has changed all that.

Though even now, social BI has been taken to another level with the introduction of Panorama Necto from BI solutions provider Panorama Software. The new solution takes the social aspect of collaborative analytics farther than any other product on the market.

Panorama Necto goes above and beyond anything else available in the market today by offering greater relevancy in BI reporting.

“The focus on the relevancy of information is a transformative force in the consumer marketplace,” Panorama Software vice president of research and development Kobi Averbuch said.

Powerful and complex algorithms allow the solution to identify noteworthy data points specific to individual user needs and tastes, according to the company. And because the process is automated, efficiency is upheld for less technically savvy end-users.

“Necto marks the first time true relevancy is offered to BI in the enterprise,” Averbuch said. “By automatically delivering relevant insights to the users, Necto eliminates the need of business users to understand the ‘how’ and focus on the ‘why.'”

According to Averbuch and an IT Business Edge report, this concept is borrowed largely from social network websites and some of the largest online companies. Facebook, Twitter, Amazon, Google and the like are constantly striving to present the most relevant information and offerings to their users.

For Amazon, that could mean an increase in sales by presenting customers with products they may be interested in purchasing. For BI, it means getting end-users the relevant information they need more quickly and easily. The innovation could be another in a recent line that have changed business intelligence for the better.

According to market research firm Gartner, adoption of social business intelligence technology will increase during the next four years. In a report published earlier this year, Gartner predicted the popularity of social BI platforms to rapidly increase during the next 12 to 18 months. By 2013, social BI will account for 15 percent of all deployments, according to Gartner.

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