Richer Content = Faster Time to Value

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Webster’s New Basic Dictionary (2007) does not have an entry for the word “analytics,” however “analytic” is listed as a synonym under the word “analysis.”  So I Googled “analytics.”  Wikipedia says that “analytics is the application of computer technology, operational research, and statistics to solve problems in business and industry.”  Hmmm.  (Hang in there—I have a point to all of this.)  Gartner has a definition, specific to web analytics, which I am here generalizing—“Analytics uses a variety of data and sources to evaluate… performance…, potentially including [measures] and patterns at both an individual and an aggregate level.”

None of these definitions is particularly satisfying to me because I think the term analytics implies even more.  (I’m getting to the point now.)  I think it implies a structure that is not present in general analysis.  It implies pre-defined mathematics and formulas and even some pre-defined metrics that are known throughout the company or even throughout an industry or profession.  So for instance, financial analytics uses measures like gross margin, rolling 12 month average, budget variance, and working capital.  Project analytics uses measures like revenue backlog, weekly burn rate, billed to date, and margin.  Operational analytics has its own set of measures.  And there are industry-specific measures or metrics as well—think about the healthcare industry or manufacturing or hospitality or your industry.  People in the field know and understand these measures, and analyzing them by looking at trends and relationships gives these folks insight into what’s really going on in their business and arms them to make informed decisions.

So why is this distinction important?  When selecting a business intelligence solution, you’ll notice a lot of similarities between products.  (Here is the point!)  One of the biggest differentiators is the “content” provided in the solution.  By content, we mean all those pre-defined measures and business objects, built-in calculations and point-and-click mathematical formulas, pre-established but flexible hierarchies and data cubes, pre-defined reports and graphs, and pre-coded views and other analysis tools.  A business intelligence product that gives you more in terms of content will yield more accurate and consistent results and make ramp-up time and learning curves shorter, yielding faster time to value.  BIO business intelligence has over 400 pre-defined business objects alone and when added to the rest of the content provided out-of-the-box, BIO has the richest, most relevant business content for Microsoft Dynamics on the market today.  Additionally, BIO gives you the flexibility to easily design and implement your own company- or industry-specific content.

Join BIO for a free webinar to get a feel for the extensive out-of-the-box content offered in BIO business intelligence software.  And please contact me at 203.705.4648 or by email at [email protected] if you have any questions about BIO or business intelligence in general.

By Sandi Forman of BIO Analytics, Corp., Microsoft Dynamics Business Intelligence (BI) Solution Provider

View demos of our business intelligence software and services for Microsoft Dynamics.

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