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The advent of socially generated data at the turn of the century brought on the need for rapidly adding new data sources, both internal and external. On the back end the requirements now include real-time reporting and mobility in extracting Business Intelligence with zero to minimal technical and IT involvement. There are many Software as a Service BI providers today that offer simple and intuitive solutions for data discovery by end users.
However, some of the challenges that BI faces today is that Data continues to be stranded in many disparate locations. New data is often lost or never collected. Even though it is supposed to be owned by and available to end users, technical catches frequently require the aid of IT specialists. The Data Visualization capabilities of Cloud BI are the same as Enterprise BI where Data is not visual, dynamic or available in real-time.With infinite Data from social media platforms like Facebook and Twitter being churned out every minute, marketers need to engage with large social analytics to detect trends and patterns on an hourly basis. Cloud BI providers are striving to make this functionality available to their users as device-delivered information through dashboards or reports intended for smartphones and tablets without the need to install software or hardware. When real-time analysis and data sourcing from the social realm becomes a reality that will be the a leap forward in the evolution of Business intelligence.
We are sitting today at the helm of this advancement and a few companies have begun to actualize this. Sales force is one example that has provided dynamic, data discovery for the CRM world and has utilized raw data to effectively predict trends and enable users to capitalize on these trends with the greatest of ease. Typically BI requirements today for the OEM business user include the capability of visualization and intelligence creation on their own independent dashboards. Effective BI solutions should enable:
- Easy addition of new data sources
- Easy drag and drop addition of new visualization methods
- Simple methods for creating dashboards and manipulating data from multiple sources
Plasma Computing Group’s new Data Visualization architecture called Simply Intelligent Data (SID) is a breakthrough in Business Intelligence architecture. The SID technology delivers on these needs and offers Data discovery capabilities that are dynamic, secure and easily accessible. It is a first step in re-imagining BI for today, as against mimicking enterprise BI solutions for cloud implementation. The concept is simple: combining Cloud BI with the next generation of BI tools and info graphics that allow a plug and play ease of use and mobility, social integration and real-time analysis. This next generation of BI Capabilities delivers information to end users in a way that’s intuitive, easy to understand, and supports analytical operations for new devices that enable strategic business decisions from a Web app.Multiple end user formats render the use of real-time BI through reports, dashboards and infographics. SiD’s new BI tools enable pattern detection by front end users through simple formats that address problems intuitively and instantly, not weeks and months after they appear, as is the case with many traditional BI systems. This functionality is applicable and available for implementation OEMs, financial services industry, wireless providers, pharmaceuticals and medical services industries, entertainment and Social media.
In a 2006 post Michael Palmer wrote, “Data is the new oil!” declaring, “Data is just like crude. It’s valuable, but if unrefined it cannot really be used. It has to be changed into gas, plastic, chemicals, etc to create a valuable entity that drives profitable activity; so must data be broken down, analyzed for it to have value.”In this age of information creation, raw data can be used to unlock new sources of economic value, provide fresh insights into science and hold governments to account.” If Data is like crude Business Intelligence with its most recent data visualization and real time capabilities is Indeed the means that add value to turn raw data to Oil.