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.
Written by Dan Radak. http://it.toolbox.com/blogs/hosting-facts/can-dark-data-become-a-part-of-companies-bi-efforts-73577
A few years ago, people from Gartner coined the term dark data to denote something all business intelligence experts have had experience with – vast amounts of data that are saved and stored without anyone even considering utilizing them. IBM has since come forward with a mind-boggling piece of statistic, which is that “about 90 percent of data generated by most sensors and A-to-D conversions on the market never gets utilised”.
We can all agree that this is a staggering percentage and that this kind of waste would probably not be tolerated in any other field. So, is dark data destined for an eternity in the shadows or is there a chance it becomes an integral part of companies’ BI efforts?
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.
Toronto, ON (January 16, 2013) – Panorama Software, a global leader in Business Intelligence 3.0 solutions, has announced its strategic partnership with Datawatch Corporation (NASDAQ-CM: DWCH), the leading global provider of information optimization platforms, to offer users better solutions to tackle Big Data.
One of the main pillars of Big Data is data variety, which means incorporating information from unstructured and semi-structured sources like external reports, PDF files, EDI streams, Log files, XBRL sources, etc. Datawatch’s information optimization platform enables organizations to turn static reports from traditional BI platforms (SAP, Cognos, Oracle, etc) into dynamic reports, as well as connect to different unstructured data sources that are usually impossible to access.
With Panorama Necto on top of the Datawatch’s platform, users can now utilize the most advanced Business Intelligence 3.0 solution to analyze, explore and collaborate on larger data pools in a unified, self-service environment. Necto’s unique context-aware BI engine automatically suggests relevant insights, offers multiple cause-and-effect scenarios and recommends relevant colleagues to collaborate with, allowing all users to work together to resolve issues and make better-informed and faster decisions.
“This partnership offers our customers the ability to extend their current plans to deploy Panorama to include data sources that they had previously thought were not accessible – especially static reports from traditional BI platforms such as SAP and Oracle,” said Eynav Azarya, CEO of Panorama Software. “Panorama has always looked to provide innovative new approaches to delivering business intelligence technologies and the inclusion of the unstructured and semi-structured information through our partnership with Datawatch is directly in line with our vision to deliver BI 3.0 to the market.”
Panorama and Datawatch will offer the solution through respective global channel partners and direct sales, adding joint marketing, sales and certification offerings to boost adoption of the BI 3.0 solution.
“Panorama’s paradigm for BI applications, that includes the use of social information and collaboration, is certainly visionary,” said Ben Plummer, Chief Marketing Officer and Senior Vice President, Strategic Alliances of Datawatch. “When you couple those capabilities with the tremendous variety of unstructured and semi-structured data sources that Datawatch can make available, it certainly sets the bar much higher for what organizations should expect from their business intelligence and data discovery technologies.”
About DataWatch Corporation
Datawatch Corporation (NASDAQ-CM: DWCH) is a leader in providing information optimization products and solutions that allow organizations to deliver the greatest data variety possible into their big data and analytic applications. Datawatch provides organizations the ability to integrate structured, unstructured, and semi-structured sources like reports, PDF files, and EDI streams into these applications to provide a 360 degree perspective of the issues and opportunities that exist in their businesses. With more than 40,000 organizations worldwide, including 99 of the Fortune 100, using Datawatch’s products and services it is obvious that businesses of every type can benefit from the power and flexibility of Datawatch’s industry leading solutions. Datawatch is headquartered in Chelmsford, Massachusetts with offices in London, Munich, Singapore, Sydney and Manila, with partners and customers in more than 100 countries worldwide. For more information, visit www.datawatch.com.
Toronto, ON (January 8, 2013) – Panorama Software, a global leader in proactive Business Intelligence (BI) solutions, has announced that its Necto for SQL Server 2012 was recognized by SQL Server Magazine with a Silver “2012 Editors’ Best Award” in the Best BI and Reporting Product category.
For 18 years, Panorama Software has been top ranked for OLAP Analysis. With the release of SQL Server 2012, Microsoft introduced the Business Intelligence Semantic Model, bringing in-memory computing to the next level. The recent release of Panorama Necto integrates, extends and enhances the Microsoft platform with Business Intelligence 3.0, enabling users to analyse and visualize data in a unified, self-service environment. Necto’s unique context-aware BI engine automatically suggests relevant insights, offers multiple cause-and-effect scenarios and recommends relevant colleagues to collaborate with right within the BI system in order to make better informed decision.
“SQL Server Magazine‘s annual Editors’ Best and Community Choice award programs offer a unique way to recognize the hottest products among the past year’s offerings,” said Jason Bovberg, senior editor at Penton Media, the publisher of SQL Server Magazine. “Choosing favorites from such a competitive field can be a challenge, especially in the midst of a financially unstable market, but this year’s winners show an uncommon breadth of functionality and originality.”
Eynav Azarya, CEO of Panorama, said he was gratified that the company had been awarded such a prestigious accolade by the top magazine for BI professionals, noting that the achievement was a positive reflection upon Panorama’s commitment to innovation and enhancement in the face of ever-changing market demands.
About SQL Server Magazine
SQL Server Magazine is the definitive voice of the SQL Server database development community and published for anyone who builds, supports or integrates world-class SQL database applications. Available in electronic or print format, the magazine covers issues that matter to SQL Server database administrators and architects, BI professionals, and SQL Server developers. Online resources include white papers, guides, podcasts, webinars, articles, FAQs, buyers‘ guides, and an extensive knowledge base in SQL today.
Panorama Necto Recognized for its Innovative Socially-Enabled Structure
and Contextual Data Discovery.
Toronto, ON (August 17, 2012) – Panorama Software, a global leader in Business Intelligence 3.0 solutions, announced today it was recognized with a Bronze Stevie Award in the Best New Product or Service of the Year – Software – New Version category in The 9th Annual International Business Awards(SM).
The International Business Awards are the world’s premier business awards program. All individuals and organizations worldwide are eligible to submit nominations – public and private, for-profit and non-profit, large and small. The 2012 IBAs received entries from more than 50 nations and territories.
Nicknamed the Stevies for the Greek word for “crowned,” the awards will be presented to winners at a gala awards banquet at the Ritz-Carlton Hotel in Seoul, South Korea on 15 October.
“The International Business Awards recognize real innovation on a global stage ,” said Eynav Azarya, CEO of Panorama Software. “We are proud to earn yet another award with our Business Intelligence 3.0 solution and we will continue to further improve Necto so it stays at the forefront of BI innovation.”
Stevie Award winners were selected by more than 300 executives worldwide who participated in the judging process this year. More than 3,200 nominations from organizations of all sizes and in virtually every industry were submitted this year for consideration in a wide range of categories.
Panorama Necto represents a new generation of Business Intelligence 3.0 solutions that introduces a unique way to connect data, insights, and people in the organization. Necto is the first BI solution that leverages social decision making and automated relevant insights to enable users gain insights more quickly, more efficiently, and with greater relevancy. For more information about Panorama Necto, visit www.panorama.com.
About the Stevie Awards
Stevie Awards are conferred in four programs: The International Business Awards, The American Business Awards, the Stevie Awards for Women in Business, and the Stevie Awards for Sales & Customer Service. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about The Stevie Awards at www.StevieAwards.com.
Video Products Distributors (VPD) is a Folsom, California-based company founded in 1980. The company currently operates various distribution warehouses throughout the country. It supplies DVDs, Blu-ray, video games, gaming systems, and related products and accessories to all industry channels and holds more than $20 million worth of inventory. Key customers include wholesalers such as Amazon.com, Newegg.com, Overstock.com and PlayTrade.
Needs and Requirements:
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YES is the only company in Israel that broadcasts multi-channel satellite television to subscribers, and is the first company that provided digital and interactive television services. Since its inception, the company has recruited 578,000 customers who represent about 39% of the multi-channel television market in Israel. YES currently employs around 2400 people and its annual turnover in 2010 was 1.6 billion NIS. YES broadcasts over 150 video channels, including 50 radio and music channels, and a wide range of interactive channels, games, information channels (including portals) and more. These channels also include video pay channels (pay-per-view) and over ten HD channels in i1080 format.
YES has been at the forefront of technology from the start, even in comparison with giant companies in leading global markets. The company is always on the lookout for efficient and new ways to improve its decision-making process and quality.
“YES is an organization that lives and breathes data at the daily level,” explains Ido Bigger, head of BI technology and social networks in the Business Intelligence Department at YES. “The information we need includes daily analyses for services, sales, subscriber activation, faults, campaign analysis, customer care, trend analysis, meeting organizational goals, and financial models. These, as well as many other types of data, are generated and enriched continually by the Business Information Department, which is part of the Information Technology unit at YES. The data is presented and made available to users in two main ways – Relational Reports (BO) and OLAP views on the BI portal which is based mainly on the Panorama platform.”
YES choice the Panorama platform as a tool for analyzing business intelligence (BI) a few years ago. According to Bigger, the main reason for this was: “The superior capability of the Panorama to perform OLAP cube analytics in a faster, easier and simpler way than other BI tools. The Panorama platform served YES as a smart analytical tool for viewing data aggregations from cubes, easily and simply. We came to the conclusion that in-depth analyses do not have to be performed via complex reports, but rather by means of analytics tools that were specifically designed for this.” In a recent review of the alternatives in the BI area, YES came to the conclusion that Panorama’s solution continues to lead the world of Cube Analysis and decided to upgrade their platform. HighView performed the task of implementing and customizing the requirements of YES.
The system installed at YES was the Panorama Dashboard, upgraded with a number of additions and special features. Today it is used by hundreds of users at headquarters from the rank of CEO to team managers. The system holds a broad variety of data, ranging from reports that provide a comprehensive picture of the daily situation, to high resolution in-depth analysis of fault incidents, service, sales campaigns, and so on. Bigger points out the decision to choose Panorama was a result of the high level of satisfaction of the BI staff in YES with its superior analytical capabilities and impressive visualization.
“We are talking about a platform that is simple and interactive for the end user, that provides superior analytics, collaboration, and interactive deployment of information,” said Bigger. “During the years we have worked with the Panorama solution we got the impression that it is an easy and friendly platform for implementation and maintenance, and therefore continuing to work with it was both natural and desirable.We are great believers in Cube Analysis and in our opinion Panorama is a leader in the sphere. Without a doubt, it is very convenient to analyze cubes with the Panorama engine because of its Drag and Drop feature, easy-to-use graphs, and unique analytic capabilities.”
Panorama solution has enabled YES to make the most of its available human capital and technological advantages, and maintain its prevalence in the competitive market in which it operates.
Bigger said one of the benefits of Panorama is its excellent integration with other BI systems in the organization. Avner Katzman, manager of the BI Department, indicated that many of the decisions made in the company are based on the data presented by Panorama. “We are talking about strategic and ongoing tactical decisions. Panorama is an especially useful tool in the customers division where real-time data is presented from the company’s systems and from which we can respond quickly to results from the field and demonstrate business flexibility.”
YES invests in enhancing the customer experience. A central part of these efforts is in the management, measurement and analysis of the organization’s performance,” said Ronny Barnov, Vice President of Information Technology at YES. “The BI systems, and among them Panorama, enable us to provide the organization with a convenient and user-friendly visual picture, and to make knowledgeable decisions in order to improve performance”.
“Panorama is an especially useful tool in the customers division where real-time data is presented from the company’s systems, and from which we can respond quickly to results from the field and demonstrate business flexibility.”
Ido Bigger, Manager of BI Technology and Social Networks in the Business Intelligence Department at YES.
Founded in 1869, Jelly Belly Candy Company is a manufacturer of jelly beans and other confections. Jelly Belly produces the leading gourmet jelly beans in the world as well as other treats such as candy corn and Gummi Bears. Jelly Belly products are sold in 35 countries around the world and in 2003, the company reported annual sales of more than $140m US.