InetSoft Webcast: The Growing Imperative Behind Business Intelligence

This is the transcript of a Webcast hosted by InetSoft in August 2017 on the topic of "Business Intelligence Today." The speaker is Mark Flaherty, CMO at InetSoft.

Mark Flaherty: In this webcast, we are diving in to help organizations explore their business data at the speed of thought and address the growing imperative behind business intelligence. Because the business intelligence marketplace evolves so rapidly, we’ll talk about what are some key trends and drivers that we are seeing out there. And we’ll talk about how can you intuitively navigate your critical business data, democratize it, analyze it and do it quickly to create competitive advantage.

First, let’s talk about the BI trends. There are several drivers for an increased attention to BI: continued data growth in the world, continued increase in regulatory reporting, complex operations of large businesses, businesses who expand globally, who expand at the multiple products.

But last and not least, business Intelligence has already moved inside the enterprise. It was moving. Now, it has moved into the front office. It is now the key corporate asset that we use to differentiate ourselves from the competition, and that is absolutely the main reason why the BI is just so hot these days.

The implication is that you cannot stay behind. You absolutely must make BI pervasive throughout your enterprises. And even though today, we do have the right technologies to make that happen, on the business side, we still have lots of challenges because business intelligence is not just about technology.

Technology is very important, but it’s all about business processes, governance, organizational structures, best practices. And that’s what is still keeping BI from being very pervasive. But unless most of your decision makers, both strategic decision makers, tactical decision makers and operational decision makers, are enabled with the latest and greatest BI technologies, how can they be competitive?

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So one of the things that we are seeing in this space is that the ability to get more information that hands those users is much more seamless when you can actually repeat and report against more information in a way that users can actually consume. And so what we have seen in the example of our Style Intelligence application and its data mashup engine is that the self-service BI capabilities that have been matched against a powerful analytic engine.

And so in this case, you can simply query against multiple data stores, find what you need and those data stores could be something as simple as an Excel spreadsheet. And then the data grid cache technology allows it to go all the way to a very large databases that contain multiple millions and even billions of records.

I just finished a panel discussion with a number of our customers who are actually deploying Style Intelligence within their enterprises. So what we are seeing right now is it’s actually left the launch pad. We are seeing a lot of customers starting to work very actively with what are some of the relevant used cases that make sense. So in the case of CPG organizations, consumer packaged goods companies, what they are actually doing is that they are using it for a category management, brand management, and profitability measurement.

So in the case of another customer of ours who is in the glass manufacturing business, they are actually looking at opportunities where they can decide which glasses make sense and which type of glass makes sense for how you deploy into a market specifically. So those kind of use cases are really what’s now driving this notion of analytics everywhere in a way that is most appropriate to the end-users.

The other thing we are additionally seeing in this market is that the ability to get information more in the hands of end-users wherever they are makes a big difference. So examples like being able to deploy dashboards on a mobile device, having the ability to have interactive reporting on the iPhone.

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