Identifying the best business intelligence solution can be hard enough without having to decipher unfamiliar jargon. To help you out, here’s an explanation of five common business intelligence buzzwords:
Let’s start with the basics. You can’t find the right business intelligence solution without fully understanding what the term means. Basically, business intelligence refers to practices, ideas and technologies for transforming raw data into actionable information that a business can use to make better organizational decisions.
A supersized but unorganized collection of digital data. Big data is difficult to display, mine, structure or analyze. The term can also refer to the sophisticated technologies used to produce these massive data sets, which can host millions (or even billions) of rows of data.
Got some big data that you want to analyze? Cloud BI will do the trick. The term refers to a variety of network-based tools that your business can use to improve its organizational decisions, providing opportunities to cut costs, minimize inefficiencies and increase revenue.
SaaS (Software as a Service)
SaaS refers to Internet-based business intelligence platforms from third-party providers. Users can either pay a subscription fee or purchase individual services as needed. The advantage of SaaS is that your company will not need to pay for software licensing or host an entire business intelligence system onsite.
A digital storage center in which information is compiled, managed and searched. Most of the time, different parties can pull data from a variety of sources and insert it into the data warehouse. Frequently, the data is modified by hashing systems and compressions to make searches and transactional processes easier.
At Intelex we’ve been collecting, researching and producing timely, high-quality intelligence for corporate and financial clients since 1992. Give us a call at (203) 921-0316 or contact us online to learn more today!