InetSoft Viewpoint
"Is performance management expensive? There clearly are expenses associated with it. It’s not so much the technology. Good systems can be bought for tens of thousands of dollars. They don’t have to be hundreds of thousands of dollars. But what’s the cost associated with how you do things? Or how you look at things?
The benefits are pretty extraordinary if you crack the code on that. Performance management really shines you have a C-level executive, whether it be the CFO or the CEO, or in some instances, the CIO. But typically it’s the either the CEO or the CFO who have vision for performance management. They realize that they need to do things differently. And not just for things like compliance, but for real transparency. Then things can start to happen.
Part of the challenge with performance management is that sometimes it gets hung up in the department of finance, yet it really applies more broadly in the enterprise. Most organizations haven’t gotten there, yet. Some have applied it to operations. Some have gone beyond just the financial indicators of an organization. So that’s a big thing being able to do that, but also being able to reconcile the information, or the way you manage the business, the way that we report things, that’s another challenge." - Mark Flaherty, CMO, InetSoft
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“Flexible product with great training and support. The product has been very useful for quickly creating dashboards and data views. Support and training has always been available to us and quick to respond.
- George R, Information Technology Specialist at Sonepar USA
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What Has changed in BI Design Philosophy?
Over the last five years, the design philosophy of business intelligence (BI) has evolved significantly, driven by technological advancements and shifting user expectations. One major change has been the shift towards self-service BI. Modern BI tools are designed to empower end-users, allowing them to access, analyze, and visualize data without relying heavily on IT departments. This democratization of data has led to a more agile and responsive decision-making process within organizations, enabling users at all levels to derive insights and take action swiftly.
Another transformative trend has been the integration of artificial intelligence (AI) and machine learning (ML) into BI platforms. These technologies have enhanced the capabilities of BI tools, allowing for predictive analytics, anomaly detection, and automated insights. Instead of merely presenting historical data, modern BI solutions can now forecast future trends, identify outliers, and even suggest actions based on data patterns. This shift has made BI not just a tool for reporting but a proactive system for strategic planning and operational optimization.
The rise of cloud computing has also played a crucial role in reshaping BI design philosophy. Cloud-based BI solutions offer scalability, flexibility, and cost-efficiency that on-premises systems cannot match. With cloud BI, organizations can handle vast amounts of data, perform complex analyses, and collaborate across geographies seamlessly. This shift to the cloud has facilitated real-time data processing and analytics, ensuring that decision-makers have access to up-to-date information whenever and wherever they need it.
User experience (UX) and user interface (UI) design have become central to BI development in recent years. The focus has shifted from just functionality to creating intuitive, user-friendly interfaces that enhance the overall experience. Modern BI tools emphasize ease of use, with drag-and-drop interfaces, customizable dashboards, and interactive visualizations. This focus on UX/UI design ensures that even non-technical users can navigate and utilize BI tools effectively, driving broader adoption and better data-driven decision-making across organizations.
Lastly, the importance of data governance and security in BI design has surged, reflecting the growing concerns over data privacy and regulatory compliance. Modern BI platforms are now built with robust security features, including data encryption, user authentication, and access controls. Additionally, they support comprehensive data governance frameworks that ensure data integrity, consistency, and traceability. This heightened focus on security and governance ensures that organizations can trust their data and comply with regulatory requirements, mitigating risks associated with data breaches and non-compliance.