Tracking Business Intelligence Metrics with a Dashboard Application
Searching for a way to track business intelligence metrics? InetSoft offers an easier to use, easier to deploy BI platform that is also more cost-effective. Read about using InetSoft's BI software:
Soft and Hard KPIs - Are there “soft” and “hard” KPIs? Yes, it very much depends on what KPI are measuring. You can have certain soft metrics where you relying on people’s experience. You need to have outside factors that you weigh in, and then you discuss it. And then there are certain very hard KPIs like warehouse metrics, which are very precise, and there can be grave consequences, if you cross a certain threshold. So I think it’s depends very much on what the contact is. But I think this distinction almost doesn’t matter. I think what matters most is that it’s the proper KPI for the person who’s doing his job. Their job is they got experience for the other factors they can bring in the picture...
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Some Possible Reasons to Choose InetSoft - It offers a cloud flexible business intelligence solution that gives you the maximum level of control. - It has a highly versatile platform for different application scenarios in the cloud era. - It allows you to co-locate a fully serviced SaaS BI instance with your primary data source to minimize data movement and deliver the highest performance. - It provides one-on-one expert help and does not require a dedicated BI developer. - It has a patented enterprise data mashup platform that can integrate data from different sources and file types. - It has an easy to use and user-friendly interface. - It has good customer service and support...
Spotlight on Business Intelligence for a Sports Betting Platform - A Business Intelligence (BI) Analyst at a sports betting platform plays a critical role in analyzing data to drive strategic decisions and optimize business performance. In such a dynamic and competitive industry, there are several key performance indicators (KPIs) and metrics that BI analysts typically track to assess the health of the business, understand customer behavior, and identify opportunities for improvement. Here are some of the most important ones: Revenue and Profitability Metrics: Gross Gaming Revenue (GGR): Total amount wagered minus payouts to customers. Net Gaming Revenue (NGR): GGR minus bonuses, promotions, and other incentives. Profit Margin: Percentage of revenue retained after deducting all costs. Return on Investment (ROI): Measure of profitability relative to the amount invested in marketing, technology, and other operational expenses. Customer Acquisition and Retention Metrics: Customer Acquisition Cost (CAC): Average cost to acquire a new customer through marketing and advertising efforts. Customer Lifetime Value (CLV): Predicted net profit attributed to the entire future relationship with a customer...
Stages of Information Management Implementation - There are several stages in implementing a good information management system: project planning, application exploration, system design, system testing, system activation...
Startup Business Intelligence Tools - Are you looking for the best business intelligence tool for startups? InetSoft partners with entrepreneurs to embed its flexible dashboard BI application, including options for no up-front license investment costs. Solution providers get great-looking web-based dashboards with an easy-to-use drag-and-drop designer. Companies wanting internal BI get personalized handholding for a successful roll-out. Get cloud-flexibility for your deployment. Minimize costs with a small-footprint solution. Maximize self-service for all types of users. No dedicated BI developer required. View a demo and try interactive examples...
Steps to Deploying Self-Service BI - There are four basic steps. The first step is an assessment of your existing landscape with respect to people, processes, technology, and goals. Examine the information delivery capabilities that you have and the associated architecture. Inventory the data available from looking at system documentation, interviewing subject matter experts, and users of current BI reports. The second step is identifying the business units across the organization that access information from the existing BI environment. If you are talking about a very large enterprise, then form a focus group of 10-12 people, getting people who are representative of each business unit. Solicit suggestions and comments about the current BI environment, what users are lacking now, where is there inefficiency with working with the current environment, etc. From these observations you can focus on the area and types of data that will benefit first from enabling self-service access to them...
Supply Chain Management KPI Dashboard - Help your organization run more efficiently with a supply chain management kpi dashboard created using InetSoft's Style Intelligence™. Effective supply chain management involves tracking shipments containing large amounts of goods and supplies from varied sources, as they travel across large distances. With InetSoft you can monitor all this information at a glance with an interactive dashboard that can be used on all devices. To receive a live custom demo for your organization click the orange button below to register...
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Tableau Business Intelligence Alternative - Are you looking for a good alternative to Tableau business intelligence? InetSoft's pioneering dashboard reporting application makes producing great-looking web-based reports and dashboards easy with a drag-and-drop designer and the ability to connect to all your data sources. Maximize self-service for all types of users. No dedicated BI developer required. For more advantages of InetSoft over Tableau, read about how our solution is cloud-flexible. If you are considering embedding BI into your solution, read our top embedded feature list. View a demo and try interactive examples...
Tableau Cost - Consider InetSoft's easy, agile and robust BI solution, Style Intelligence. InetSoft's BI software application benefits business-end users with superior capabilities and more flexibility than what Tableau has to offer. While Tableau's designer can only be run on Windows, Style Intelligence is a Java-based server application that can be deployed with unrestricted functionality on Windows, Linux, and Mac OS. It is a zero-client program on a web-based platform that can be accessed from any web browser and mobile device. This is a huge advantage over Tableau, which requires a desktop plugin to perform basic visual analytics...
Tableau vs. InetSoft: Whose BI is Better? - Fully functional as a stand-alone product or as an add-on to an existing software, InetSoft's open-source standards enables data exploration with an eclectic set of tools that can work with virtually any data source. InetSoft's flagship product, Style Intelligence, will provide your enterprise with easy, agile, and robust BI that will render your users with powerful data mashup, compelling reports, and dynamic interactive dashboards. Deploying an effective and powerful BI solution does not have to cost a great expense...
TCO of Business Intelligence - How do you manage the total cost of ownership of business intelligence? There are three dimensions to consider here. First is the cost per user, which includes all software licensing costs plus maintenance, hardware costs and administrative overhead. Second is completing the BI deployment on budget. A recent industry analyst report showed that more than half of companies failed to do this. The last dimension is how quickly the business intelligence software can be operational. The faster deployments average around 4 weeks, but a poorly planned deployment or overly complicated software has led to timelines of 3 months or more. One of the methods you can undertake to help manage these costs includes actively measuring and tracking all the BI costs that the project incurs against an equally detailed budget for them. Second is creating a project timeline with milestones and checking weekly on the project status against those...
The importance of a progressive company culture - A progressive company culture is one that keeps its staff engaged and motivated while adapting to constant change through strong leadership and a firm grasp of emerging data analysis technologies. By focusing on developing a progressive company culture founded on data intelligence, everyone in the business will have a voice while gaining access to the tools to consistently achieve or even exceed their personal goals....
Thinking about Business Intelligence Strategically, not Tactically - We have talked quite a bit about how critical for the success of BI program a BI strategy is. We have also talked about what’s part of the scope of BI strategy. So we know it's critical; we know what’s part of it; and what you need to do to have a whole one, a complete one. Yet, many companies can't figure it out. Why is that? Well, first of all, they didn’t begin by looking BI at a strategic distance. Most organizations solve BI issues tactically. They have a specific need, specific application they want more information about, and they solve that problem. They do it in a one-off fashion, and there is no holistic view. If you want to have a strategic BI program, to have a developed the strategy, you can do so. You can get there, as we said, before by linking it to goals and objectives that the organization has. If you don’t have that view of the whole process, then you simply can't have strategic business intelligence...
Tips for Integrating Business Intelligence Into Your Business - Business intelligence (BI) is becoming a crucial component of contemporary corporate operations. It enables companies to make data-driven choices and acquire insights into their operations and consumers. Unfortunately, many firms find it difficult to properly incorporate BI into their operations. The process of incorporating business intelligence into your business will be covered in this article. Level Set for Term Business Intelligence Let's take a moment to define business intelligence before diving into the procedures needed to integrate it into your company. Business intelligence is a collection of methods, tools, and procedures that assist organizations in gathering, analyzing, and presenting data so they may make educated choices. Data mining, reporting, and predictive analytics are just a few of the many tasks covered by BI...
Tools for Snowflake Business Intelligence - Looking for a good solution for Snowflake business intelligence? InetSoft's pioneering dashboard reporting application produces great-looking web-based dashboards with an easy-to-use drag-and-drop designer. View a demo and try interactive examples...
Top Rated Business Intelligence Software - Are you looking for the top rated BI software? Since 1996 InetSoft has been offering BI software that is easy to use. Use self-service oriented dashboards and interactive visual analyses quickly. View examples from the gallery and read why InettSoft was rated #1...
Top Success Factors of Business Intelligence - Today’s Webinar is about briefing about the Top Success Factors of Business Intelligence. This information will be good for those who are just beginning to implement or expand a BI program. You will learn more about the best way to structure BI teams and manage business IT communication. We can start by asking what is the ultimate promise of making BI a killer app? And perhaps for those who are new to the term how do we define killer app? I would say that making BI a killer app means that both big and small decisions, any decisions that contribute to the company’s performance are made based on facts and insights from data, so not just gut feel decision-making. It's really based on leveraging the data at hand. And then in terms of the killer app, I think that’s really any application, it could be BI, it could be other applications that help a company reach new heights, whether it in terms of financial performance, best-in-class customer service, or having the best products on hand when customers need it...
Touching The Business Intelligence Solution - We’re not talking in terms of thousands here, so running a sprint 0 doesn’t cost a lot of money, and it does not take a lot of time again three to five weeks. And in doing this what we’re doing is get absolute clarity that the solution is going to answer the business questions or solve the business need, because they’re actually touching the business intelligence solution before its built if you can think of it that way. And once we get that clarity and the business says yes you deliver me that for real, with real life production data, you’ve hit the home run. Now we go do the hard work, the expensive work. What we have done, to go back to the very beginning, we have absolutely minimized the data integration task because the only stories we’re going to work on are ones that address data needs to answer those business questions. Again everything springs from the business value chain. This allows us to gain clarity, buy-in, and consensus and deliver the best solution with the least of amount of effort. If we think about what I’ve been talking about, we end up with the customer metrics, and we said we may have a release around profitability and a release around retention. Within the first release we’re going to go do the sprint 0 for release 1...
Traditional Approaches to Business Intelligence Can't Keep Up - Agility is very critical here because of what we talked about earlier. The traditional approaches to business intelligence can't really keep up with the ever growing, ever increasing number of business intelligence requirements. The axiom, ‘build to and they will come,’ only applies to business intelligence in that when you roll something out, that’s when people start saying how this is what I want, that’s not what I meant before when I told you. This means you can't really plan well in advance as you can with other applications. Agility in business intelligence is something very different than agile software development, a concept that has existed for a while. Agile BI rest on three legs. It’s a triad. It doesn’t start with that agile software development methodology. You can't really use that on its own. You need to follow the best practices and use some of the agile BI technologies that I will recommend here. Each one of these three points is necessary, but they can't really stand on their own. So let's go through them...
Traditional Data Management and Business Intelligence Companies - What does this shift towards big data solutions mean for traditional data management and business intelligence companies? Fairly obviously when you talk about anything new like big data, the question is, is this going to replace traditional data management tools, and the answer is gosh, no. This is true for two good reasons. First of all, there is still a lot of information in most corporations’ databases on which they are still not properly reporting and extracting all the insights and analysis from. That is going to continue to be a source of growth and revenue for decades to come. Next, not all databases need the big data tools. Those are new kinds of tools, and there are things that they do well. But there are other things they do less well. The traditional database tools are well integrated and easy to use and well understood. So those are going to hang around for that reason, as well. I think the other thing, though, is you need to use big data tools when other tools don’t work. It’s the thing you use when the stuff you already have isn’t capable of extracting the insight...
Traditional Enterprise Intelligence Problem - Well, let’s take a look at a traditional enterprise intelligence problem. On the top, we have an account executive who sells investment products in region one which consists of branch 1, 2 and 3. In the middle, we have a branch teller who sells a deposit account in a branch. On the bottom, we have a commercial loan officer who happens to be housed in branch one, but he places a commercial loan in branch 3. So now, we have all of the common ordinary things that go on in a diversified financial institution every day, and why do we need business intelligence? We need to be able to measure and manage the people, the process, the customers, and business results. On the right hand side, you see that properly measuring the investment sale by the account executive to the right branch within the right region and having a right role of it is important. Measuring the teller sale is equally as important because you may have a branch where the deposit base is shrinking and yet, at the same time, you may have one or two tellers who are individually doing extremely well and increasing their own sales success. And what you want to do is understand that that’s happening by teller and you want to find out what that person is doing and clone it so that you can continue to grow your business more widely in that branch and across the institution...
Transportation Department Business Intelligence Example - The Department of Transportation (DOT) is responsible for all concerns related to travel and travel safety within the United States. Â Data plays a major role in the operations of the Department, and example of which can be seen in the Safety Data Initiative, described at https://www.transportation.gov/content/safety-data-initiative. The initiative focuses on ability to "integrate existing data and new 'big data' sources", "use advanced data analytics to provide new insights into transportation safety risks", and "create data visualizations to help policymakers arrive at safety solutions." This is essentially the very purpose of business intelligence. An illustration of data projects funded by the Departments that utilize business intelligence is the Maryland Vulnerable Road User Density Exposure Risk Dashboard. This displays risk areas geographically, allowing funding to be better targeted to improving the most dangerous travel corridors...
Treatment Business Intelligence - Electronic Health Records key metrics need to be monitored in order to be successful in maximizing clinical productivity and doing this requires more robust reporting tools. InetSoft is known for its robust business intelligence and analytics software that will help organizations gain important insights from the following KPIs...
Trial AWS Business Intelligence Tool - Looking for good AWS business intelligence tools? InetSoft's pioneering dashboard reporting application produces great-looking web-based dashboards with an easy-to-use drag-and-drop designer. Mash up your application performance data with any other in your enterprise. View a demo and try interactive example...
Types and Purposes of Business Intelligence Software - You now know what business intelligence software is, but how exactly does it operate? The response is type-dependent. Using business intelligence software's intended use as a guideline is one of the best methods to categorize the categories. The three primary features of BI solutions often come under one of two packaging options: standalone applications or suites. Handling of data The main purpose of a BI is to clean up your current data. Raw data is disorganized and erratic. It must be ready for processing, such as reporting or analytics. For indexing and archiving, data management BI software employs a defined method. By using this program, you can be confident that the raw data you analyze is clean, correct, and that you are comparing like with like. Similar to other BI software types, this one employs the ETL (extract, transform, load) procedures to acquire data from many sources and put it into a target platform, such as spreadsheets, data containers, or data warehouses. Data management is a key component of the majority of top BI software programs...
Ultimate Promise of Pervasive Business Intelligence - Pervasive BI means that BI is being used to make both big and small decisions. Any decisions that contribute to the company’s performance are made based on facts and insights from data, so not just gut feel decision-making. It's really based on leveraging the data at hand. The result of pervasive BI should be that it helps a company reach new heights whether it in terms of financial performance, best-in-class customer service, or having the best products on hand when customers need it. I think the biggest indicator is that all workers, so executives as well as frontline workers, recognize that BI is mission critical. They couldn’t do their jobs effectively without business intelligence. And today, really, that recognition is quite low in most companies. Usually it's the knowledge workers or the power users who only consider business intelligence mission critical. So that’s kind of from a qualitative aspect. And typically most companies only measure their success by these qualitative aspects, so really user perception and executive level perception...