Question

Research and Discussion

1)     What are some of the organizational benefits of real-time reporting?

2)     What are some of the modern business intelligence (BI) tools that are available for organizations?

3)     What are some of the key features and benefits of some particular BI tool or tools?

Answer 1

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1) Organizational Benefits of Real-Time Reporting:

• In past organizations and business used to get their financial data in monthly quarters or years which made analyzing data a bit late and when the data has been analysed and neccessary changes are made in the model of business the trends in market or business tend to change but with real -time reporting organizations and businesses are getting their financial data right when they occur in real time this helps organizations to better understand and analyze  the data act on it
• Real-time reporting gives an accurate overview of things happening at present this allows the organizations to not depend on experience or predictions but on real data.
• It also gives in-depth understanding of the customers like what they customers actually need, how do they fell about the product or business this helps the organizations to act fast and make changes if necessary.

2) Some of the Business Intelligence(BI) Tools:

• SAP Business Intelligence: This tool offers many advanced analytic solutions including real-time Business Intelligence predictive analytics, machine learning & planning algorithms.It is a very powerful and robust tool for both IT sector and management.
• SAS Business Intelligence: This tool offers one of the most advanced predictive analytics on a great platform.This is a self- service tool that helps in extracting data and metrics about their business. It also provides a lot of customization options, high end data-integration and reporting.
• MIcroStrategy: This tool offers powerful dashboard and monitor service to better understand the trends, find new opportunities and improve productivity. The incoming data can be from a spreadsheet, cloud or enterprise data software and the best of all it can be accessed form mobile or desktop.

3) Some Key Features and Benefits of Yellowfin BI:

1. Yellowfin Signals: while dashboards are better for monitoring signals are a good option for automatic discovery, these signals deliver personalized alerts to users of particular roles , these alerts can be critical changes, Spikes and Drops, Step Changes, changes in trend and volatility etc.
2. Yellowfin Data Discovery: It gives faster analytics and understanding better insights , these assisted insights automatically and instantly seek out the answers for queries submitted by users.
3. Simple Dashboards: Yellowfin dashboard is simple to build and much easier to use and these dashboard and insights are AI powered to give better understanding of what kind of change occurred and why so that users can understand and make changes according to it.
4. Data Analytics: Yellowfin BI gives many options to collect data from all data sources and organizes them for better data analytics.