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Why Companies are Looking Forward to BI?

By SiliconIndia   |   Thursday, 06 December 2012, 10:00 Hrs
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Bangalore: Organizations are keeping an eye on BI as many technologies like analytics, corporate performance management, business process management and big data have taken the lead. To cope up with these new technologies, Indian companies are depending heavily on BI to fulfill the demands. Gartner forecasted the Indian BI market to reach $101.5 million in 2012 from $86.4 million revenue of 2011. This might be due to the increase in adoption of BI by organizations to improve business effectively.

Erik Kass, Director of Product Management, Mid-market ERP Products, Sage stated on on how BI can help organizations grow. Some of them are listed below:

1. Determine company progress- A business depends on several factors which includes time, resources, cost, quality, action and scope. BI keeps a record of these factors and creates a hierarchical performance metric which is very important for an organization to remain healthy in the market.

BI can also help a company gain benchmark by improving the speed and decreasing costs. Benchmarking helps to identify competitors and take necessary steps to keep the business running.

2. BI in recovering data- The main job of a BI implementation is to search and locate information which is hidden amongst lakhs of files. It can organize and manage data to allow an organization access to these information instantly to speed up the work. It also avoids the company from making any errors in future.

3. Cloud upon BI-Cloud helps BI to reduce the costs of implementing business intelligence and tools to ensure that the BI stays within the reach of small medium businesses. Vikash Mehrotra, Divisional Lead, BI & EPM, Oracle states on that while companies look for ways to cut budget, cloud-based open source BI solution can compel the use of BI in the market.

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