Knowledge Is Indeed Power

in Company

The global financial crisis and the growth of competition among businesses have forced establishments to tighten up their budget. These circumstances made companies reduce their investments for business enhancement technology. However, it is very necessary for these companies and firms to realize that the global downturn is a great time for them to invest in technology that would help them overcome the recession and eventually lead to company growth in the future. All businesses are dependent on information and data. Thus, business intelligence software solutions were created in order to help the organization access all necessary data for the company. The main role of this software is to provide and collect all needed data and information that are relevant for the organization's function and growth and make it available for the company in the future when it is required. This kind of easy access and quickness to acquire information and data is very essential to the process of decision making of the company. Also, with this technology, the company will grow and stay afloat. Once a quick gathering of data and information happens, the company can run analysis, do reports and make possible predictions based on the past performance. Some business intelligence software integrates external information such as the unemployment rate of a certain region or the prices of gas in order for the company to understand the swings or economic trends and how the customer's behavior affects them. These applications would help bring together data from disparate parts of the company. You can configure the applications yourself or hire business intelligence consultants to do that for you. In choosing the right ERP software, identify first the specific needs of your company. Once those needs are established, you can use that information to serve as a benchmark in choosing the ERP vendors who can cater to your needs. Some tools that are used for business intelligence software solutions are spreadsheets, reporting and querying software, tools that extract, sort, summarize, and present selected data, OLAP or commonly known as online analytical processing, digital dashboards, business performance management and local information systems. Except for spreadsheet, these groups of tools are considered as standalone tools, suites of tools or ERP systems.

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Mark Ray has 1 articles online

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This article was published on 2010/03/26