How to profit from data – OBIEE is your weapon
The management of data is core to successful organisations. In recent years, the explosion of cloud computing and virtualisation has made the management of data assets significantly more important. However, few organisations have a well-defined strategy and approach for the use of data assets and data extraction; resulting in wasted resources and stagnant profitability. Because of this, it is imperative, especially in today’s changing environments, to change the way we manage data assets, and ultimately the ability to actually increase the value of data.
While there are numerous applications for data abstraction, the core use cases today surround Business Intelligence and Applications.
In the 21st century, if you do not have sufficient software that allows you analyse data in relation to changes in environment, buying habits or forecast future trends; your company has failed before it even starts.
Oracle Business Intelligence Enterprise Edition (OBIEE) is a comprehensive business intelligence system for the enterprise; delivering abilities for enterprise and financial reporting, ad hoc query and analysis, online analytical processing (OLAP), interactive dashboards, and scorecards. This solution is based on a proven unified, highly scalable and modern architecture that integrates with an organisation’s existing IT ensuring the highest return on investment (ROI).
The BI functionality Advantages of using Oracle Business Intelligence Enterprise Edition for organisations are outlined in our article: Oracle Business Intelligence Enterprise Edition (OBIEE) – The Difference between Success and Failure.
However, in order to avail of these advantages in promoting increased profits, it is important to use data in the right way. This requires a blending of enterprise resources (to deliver a complete, consistent, and reliable source of information) to fulfil the promise of BI through a well-defined strategy and approach for the use of data assets.
Top 3 components of a Data Strategy:
Key Performance Indicators:
The purpose in building a BI strategy is to help business with long-term planning, help middle management with tactical reporting, and help operations with day-to-day decision making to run the business efficiently. In constantly changing business environment, organisations must be able to quickly adapt to new business requirements and evolving sources of information. OBIEE is a wide-ranging BI platform that provides a full range of easy-to-use and intuitive end-user tools facilitating forecasting and budgeting.
Data and End user integration delivery:
In order to remain profitable; it is important to determine the best approach for users to access, consume and share information in order to make accurate and factual decisions. Additionally, the use of knowledge management, content management, and portals is the key to sharing information in a collaborative environment.
Organisations should create enterprise-wide processes for the collection and transformation of data into information and knowledge; connecting together BI, business processes, collaborative applications, and their underlying data stores. Oracle Business Intelligence Enterprise Edition (OBIEE) delivers this functionality quickly and swiftly; providing significant information for decision making and forecasting; in turn leading to organisational success and profitability.