Enterprises are using data for more and more powerful applications in the 21st century. 2020 has boasted a variety of new developments in data analytics and enterprise usage, with various companies coming to rely on data for a broad arrange of activities. If you’re someone who’s new to the concept of business intelligence, however, it’s easy to become overwhelmed by the sheer amount of ways that data can be leveraged in your business operations.
While not an exhaustive summary of the different shapes that business intelligence can take, the following applications are some of the most common examples of business intelligence.
Certainly, if it’s your first time diving into this topic, a quick primer on various types of applications can be helpful. Read on to learn more about modern enterprise analytics.
Business Activity Monitoring
The real-time insights gleaned from enterprise analytics can be particularly helpful when it comes to something known as business activity monitoring. Business activity monitoring helps you understand how certain business processes are working for your company at any given time. Whether you’re tracking how processes are being rolled out by employees or how a certain process is performing, business activity monitoring can offer you the insights you need to make more informed decisions moving forward.
Application Integration
In order to remain flexible and future-proof your business, application integration can be a crucial part of your business plan.
Especially if you have a broad array of departments, data sets, and systems, being able to link these applications together makes it much easier to run your business and work between different departments.
Particularly when it comes to accessing and making use of data from legacy software, application integration can ensure that more modern, cloud-based platforms are able to take advantage of your historical data without the need for exporting and importing data from different software tools. If you’re looking to streamline your workforce and boost employee morale, it’s hard to go wrong with application integration.
Inventory Management
Especially because of changes in consumer behavior due to the coronavirus pandemic, more businesses are relying on e-commerce platforms in order to make the most of their wares. If you still have a brick and mortar store, though, it can be difficult to remain up-to-date on your inventory without the right platform.
Inventory management systems allow you to optimize your database of products so that you don’t ever need to worry about having mismatches between your physical retail store, order management system and online storefront. If you overstock or run out of a certain product, it can create a negative experience for customers, which is why it’s helpful to be able to offer to-the-minute information about the products you carry. Business intelligence software offers you this benefit while integrating with other systems, too.
If you want to learn more about some of the leaders in modern enterprise analytics, it can be helpful to refer to a trusted source. The 2020 Gartner Magic Quadrant MDM research report is one such source that can be looked to as you want to gain more information about the variety of platforms available to various business leaders. One benefit of looking at a report like the 2020 Magic Quadrant report from Gartner Research is the fact that it offers you the results of their research without any endorsements or spin.
This means that you can assess the research results on your own to ultimately form your own conclusions about which data platform will be the most helpful for your company.
In a field as competitive as business analytics, having this sort of unbiased, third-party perspective is a major boon to decision-makers at companies large and small.
