With the exponential growth of data, there is a new concern in the data analytics and Business Intelligence world: how to achieve the best data visualization. We need to present data in a way that can communicate insights to decision-makers and benefit any employee. The trend is to create more digestible and user-friendly dashboards and reports.
While business intelligence is seeing continued growth, the rate of expansion has slowed due largely to the way companies approach big data. The latest Gartner report indicated that business intelligence experienced an average 8 percent growth in 2013 across the globe, but no one saw improvements higher than 12 percent. According to Data Center Dynamics, the limited amount companies and their employees know about big data is a major reason behind the slowed growth of BI.
Lack of know-how
Big data, which encompasses massive swaths of information, can seem intimidating for those unprepared to harness the potential of data analytics. The news provider suggested that part of the reason big data remains such a mystery to some is that they don’t know how to best put it to use for their businesses. This encompasses everything from knowing which data to examine when looking at a specific operation or strategy to analyzing and interpreting sets of information and how they relate to one another.
However, firms can invest in a BI solution like Panorama’s Necto 14 that makes it easier to collect and interpret relevant data. This software can suggest which sets of information may be useful for a particular inquiry, giving users the ability to gain valuable insights regarding various departments and processes.
Too much importance
At the same time as businesses are having trouble harnessing big data correctly, many are also placing far too much emphasis on this large pool of information. The focus tends to fall more on the collection and storage of big data and less on data discovery and analysis, according to Venture Beat. Having all of this information is only useful when it is then analyzed and put to use to improve a business. In many instances, this can be due to the lack of know-how when it comes to using the data effectively. The self-service BI tools available in Necto 14 allow any member of an organization to extract and interpret big data so it can serve to help departments make strategic changes to various policies and operations.
These issues will likely diminish as more companies embrace modern and intuitive business intelligence tools that can help them better harness big data. Inquirer.net reported that new applications and software that focus on making big data more accessible will put the power of data analysis in the hands of more workers.
Business Challenge: Inadequate Sales Tracking
Based in London, this company is the world’s largest independent music company, operating directly in 50 countries. Around the world the company supports a roster of current pop, classical and jazz stars plus a back catalog of 150,000 recordings. Continue reading
Founded in 1983, Lavie TimeTECH is one of the world’s leading suppliers of Workforce Management Systems. With more than 8,200 installations worldwide, almost four million employees use Lavie TimeTECH solutions to manage their time. Using Lavie TimeTECH’s advanced systems, employers are able to standardize all manpower operations while significantly increasing efficiency and responsiveness.
Three communications giants; Sprint, France Telecom and Deutsche Telekom created Barak Telecommunications. These companies were also jointly responsible for the founding of the global communications company Global One, which is represented in Israel by Barak. Barak provides a wide variety of telecommunications services to and from Israel encompassing more than 65 countries around the world. Continue reading
The world’s pioneer of system-on-a-programmable-chip (SOPC) solutions. Altera has annual revenues over a $1billion; maintains 14,000 customers worldwide and employs approximately 2,465 people in 14 countries around the world. Continue reading
The latest and greatest database offering from Microsoft officially went live at the SQL Server 2012 Virtual Launch Event on March 7, 2012. And Panorama was proud to be a part of the launch. The new release offers many upgrades from its predecessor and is ideal to address the latest data trends.
If you’re a regular reader of this blog, or follow the business intelligence industry and are interested in where the technology is headed, then you’re aware of how excited we are about Panorama Necto. The revolutionary BI 3.0 solution from Panorama Software will completely change the BI industry and how decisions are made.