Business Intelligence
Business Intelligence and Business Analytics
The Reporting Phase
At a transactional level, the Reporting Phase in Business Analytics’ three phase closed loop feedback mechanism captures and processes operational and financial data to answer the question “What is happening inside/outside the organisation now?”
In Business Intelligence systems, transactional reporting operates right across your organisation, accessing ‘one version of the truth’ from the underlying Data Warehouse.
However, transactional level reporting is not capable of identifying trends, predicting events or supporting executive decision making to achieve your organisation’s long-term goals.
This is the remit of management and executive reporting, often using strategic measurement techniques such as Key Performance Indicators (KPIs) and Balanced Scorecard. These filter large volumes of data into a small set of incisive performance measures which provide fast, valuable decision making support specific to your organisation.
Reporting in Business Intelligence systems
Business Intelligence systems often present management and executive reporting in a dashboard style, incorporating standard reports, analysis, KPIs, scorecarding, alerts for tracking trends and exceptions, and drill-down facilities for additional information and ad-hoc enquiries. Decision makers can easily identify trends and exceptions to answer the question “Are we meeting targets? If not, why is this happening?”
Business Intelligence systems free decision makers from the tedious and time consuming processing of data so that they can focus more on analysing it. The productivity savings across your organisation are usually significant, and because the speed and quality of decision making is improved, your organisation’s performance improves overall.
Reporting in Business Analytics systems
In the Reporting Phase of Business Analytics, additional functionality is applied to support strategic decision making. Reporting systems feature:
- A more outward-facing approach, using external data to compare the performance of the organisation vs. industry benchmarks and competitors, for example.
- Predictive elements which estimate timescales to achieve milestones, targets and goals.
- Information to support ‘What if?’ scenarios in the Planning & Business Modelling Phase for executive decision support.
Getting started
Advanced Business Solutions’ specialist Business Intelligence and Business Analytics consultants are skilled in identifying the incisive indicators to help your organisation achieve its medium and long-term goals. Deep industry knowledge in both public and private sector means that we can tailor your organisation’s reporting to meet specific requirements. Our Services include implementation consultancy, training (for end-user and IT personnel) and on-going support and maintenance across all offerings in our portfolio.
Organisations’ transactional reporting must meet certain pre-requisites before it can successfully contribute in a Business Intelligence or Business Analytics environment. Establishing and meeting these pre-requisites is the remit of the Data Warehouse, Data Quality and Master Data Management layers in our BI & CPM Solution Portfolio.
Groups of organisations face the additional task of consolidating financial information for the budgeting, planning and forecasting cycle, typically on a monthly, quarterly and annual basis. Advanced Business Solutions offers flexible but robust applications from IBM Cognos and SAP for financial consolidation.