BI greatly reduces the stress of both managers and employees, as it is able to analyses companywide business data to help them understand current business performance and make informed business decisions.
Until recently, our focus in the corporate software sector was on ensuring the entry into the system of the data needed to generate reports for the sound management of a business. Today, many businesses value institutional memory in order to survive for generations, and they try to ensure that the data they need is entered into a system, no matter what its cost for the company. Now, collecting data from its source takes center stage. The real focus of ERP companies is shifting towards figuring out how to gather data faster and more accurately with methods such as collecting it directly from the field and communicating with devices, as well as how this extremely large set of data (big data) can be used faster and more efficiently (business intelligence, or BI).
One of the concepts at the heart of this discussion, BI is described as ‘the set of techniques and tools for the transformation of raw data into meaningful and useful information for business analysis purposes’.  Coined in 1865 by Richard Millar Devens, the term ‘Business Intelligence’ was first used in an article by IBM researcher Hans Peter Luhn in 1958. Many believe that the present-day meaning of the term grew out of the decision support systems (DSS) developed between the years 1960-85. The ’90s saw the creation of the first computer-aided DSS models.
BI software is particularly good at helping to create new strategic business opportunities by identifying and developing large amounts of unprocessed data. This is in line with BI’s main goal of making it easier to analyses this volume of data. For as much as there’s been high performance in terms of data collection over the last 20 years, it has also brought up a crucial issue: the need for this crowded data to be sifted through in a meaningful way and analyzed in order to devise a substantial strategy… This is precisely the point at which BI is of vital importance, as it takes data stored or presented in various media, cleanses and transforms it and finally places it in a predetermined location with a specific purpose. With the results obtained, different analyses and algorithms may be applied to the data, and as a result this entire process plays an important role in the strategic decision-making mechanism of businesses.
BI also greatly reduces the stress of both managers and employees, as it is able to analyse company-wide business data to help them understand current business performance and make informed business decisions. Goal-oriented and well-executed BI projects also provide a sense of security with their ability to answer most strategic questions based on the data. It also allows companies to use past data to create forecasts for the future.
Another quality of a successful BI operation is that the data presented is able to meet the needs of a diverse user group. It must be detailed enough for use by those in the analysis department, practical enough for middle management to make their own business decisions, and simple and concise enough for top management to interpret quickly and see the big picture.
The structure of BI solutions combines basic BI components such as data sources (ERP, CRM, etc.), ETL, data warehousing, an analytical data model as well as reporting and analysis. To get a better understanding, refer to the image below to learn about the structure of a piece of BI software:
The data source referred to here is the database where the data is stored for the ERP or CRM system you use. ETL stands for ‘Extract, Transform, Load’, the set of processes by which the ‘data source’ transports the data into the ‘data warehouse’ where it can be processed faster to generate the reports requested. The first step, Extract, involves retrieving the data from the data source; the second step, Transform, is the stage at which the data retrieved is changed into a format that At CPM, we started off 2016 with our new product CPM Analytics, built on the framework of QlikView, the world leader in the BI market. With this product, we are happy to offer our customers an important tool in helping them use big data to analyses the past much faster and construct the future just in time. This is in line with our long-term goal of spearheading data-focused business transformation in our country. We believe that utilizing the full capacity of the projects we toil over and invest both our time and money in will make a big difference in the Turkish economy. We also believe that the work we do is gradually becoming imperative if we want to keep up with the times. Our goal is to build on our success with ERP by becoming a key player in the Turkish BI market as well as to ensure that our customers are always one step ahead of the competition.