In this rapidly evolving world, every business and brand is seizing the opportunity at their disposal and transforming their business practices, streamlining its processes & operations, more efficiently than ever. Some of these organizations are doing just fine on their own because of their giant size and the abundant resources they have. But there are also organizations that are in dire need of bringing their operations and processes on track but don’t know where to start. This is why we bring you this ultimate guide to knowing the dimensions of Business Intelligence Software so it can be implemented well.
What is a Business Intelligence Software?
So Business Intelligence (BI) Software is a computer-operated program that gathers all sorts of business data and information that is fed to it. Later that data and information is presented in the form of reports, dashboards, charts and graphs, in a user-friendly manner.
Use Cases of Business Intelligence Software
- Data Analysis and Visualization: An in-depth data analysis is done only to recognize and categorize trends, patterns, and insights from large sets of data. Then that data is presented in a manner which is easy to understand like charts, graphs, reports, etc. It should be appealing enough that it empowers your decision-making process and makes it more efficient.
- Performance and Predictive Analytics: It helps you not just analyze but also evaluate the performance of your organization’s departments, teams, and individuals on the basis of predefined metrics. Subsequently, you can identify the areas for improvement and optimization across the verticals of your organization.
- Budgeting and More: After collecting data and information from all the available sources across various platforms, you can easily streamline the budgeting and other financial processes of your company. This way, it helps you create “to the point” financial forecasts and predictive models that keep you going smoothly and efficiently.
- Supply Chain Management: This Business Intelligence (BI) Software assists you and your organization not just optimize but also enhance the supply chain operations. You can do it by analyzing data related to inventory, logistics, and demand in the market. It eventually reduces costs and improves efficiency in the supply chain.
- Strategic Planning: The Business Intelligence (BI) Software helps you and your business executives have a comprehensive insight deep into the business landscape, so strategic decision-making can not just happen but also be supported. Together with this, it also helps you align your overall business strategies with ongoing market trends and up-and-coming opportunities.
Let’s come to the part where you will get to know about Dimensions and Measures in Business Intelligence Software, and how it can help you grow in this competitive era of digital transformation and enhance it.
What are Dimensions?
It is basically the what, when, where, who, and why of the organization, that can be described in the context of data. It could be the geographical locations, the time period of business, the product categories of your business, and the demographics of your end customers who you want to target. Dimensions are something that helps you and your organization structure as well as organize your company’s data, simultaneously providing a framework for analysis.
What are Measures in BI Software?
When quantitative data or key performance indicators (KPIs) are used for assessing and analyzing business performance in (and of) an organization, we call it the Measures in Business Intelligence (BI) software. It is nothing but numerical values that represent certain aspects of a business’s operations, which include but are not limited to revenue, sales, expenses, profit margins, customer satisfaction scores, and more. It helps quantify as well as keep track of various business metrics of the organization where business intelligent software is being used.
Tips to Bank on Dimensions and Measures
1- Categorize
First, you need to select and then segregate Dimensions and Measures. For your analysis, you need to choose only the relevant ones while creating reports or dashboards, as this foundation-laying selection plays a significant role in implementing the rest of the software.
2- Build Pattern’s Storyline
Now these selected dimensions and measures can be utilized for creating charts, graphs, and table-like visualizations. It will help you and the other party understand a specific pattern and take the future course of action. The right kind of Business Intelligence Services can decide a lot about your success and growth.
3- Define Data modelling
For this specific purpose, you would be required to distinguish dimensions and measures in your dataset, which is the right thing to define your data model. You’d also need to establish strong relationships between dimensions and measures, like associating a time dimension with sales measures for analyzing sales trends during a specific duration of time.
Conclusion
Business Intelligence software is not something that can be understood overnight. A lot of time and energy goes into understanding it but a digital transformation professional like SkyTrust can help you know it inside out without much hassle. Get in touch with us and get started with your digital transformation enhancement, today!
