Next Generation Business Intelligence Tools
September 2, 2009 by Raj Sheelvant
According to InformationWeek article titled “4 Technologies That Are Reshaping Business Intelligence” Next-generation BI is being formed by predictive analytics, real-time monitoring, in-memory processing, and SaaS.
Doug Henschen author of this article writes why business intelligence initiatives continue to top CIO priorities, as executives demand better visibility of their organization. BI tools have often has fallen short of ideal, delivering insight into the past but not into up-to-the-moment performance or future prospects. That according to Doug is about to change.
Next-generation BI has four factors are driving it:
Predictive Analysis: 2007 bestseller ‘Competing On Analytics’, by Tom Davenport and Jeanne Harris, perked up the interest in companies to improve their profit by peering into the future. BI vendors that lacked analytic tools have rushed to integrate them into their BI suites.
Monitor And Analyze In Real Time: Faster business activity monitoring, and ultra-low-latency event processing is making BI ‘near real time’. Functionality typically include instant alerts so people can react when a particular threshold, event, or pattern is seen.
Commit To In-Memory: Much faster analysis now now viable because of in-memory calculations. In-memory tools can quickly slice and dice large data sets without resorting to summarized data, pre-built cubes, or IT-intensive database tuning.
SaaS: With easy deployment and upgrade SaaS promises to further alter the BI market by helping companies get these next-generation systems running more quickly.
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Comments (1)
Couldn’t agree more, we are already using this concept within our BI tools.