Big Data, Analytics, and Business Intelligence are terms seen with great frequency in the business media these days. Credit union decision makers are often mystified by what it all means.
The next three installments of The Decision Maker will highlight information from the February 2013 Gartner Magic Quadrant for Business Intelligence and Analytics Platforms . The report gives very clear definitions of elements that make up software platforms in this realm. Understanding these elements will give credit unions a conceptual foundation from which to evaluate these systems.
Gartner groups the features of business intelligence (BI) and analytics systems into three broad categories:
- Information delivery
This week will focus on Integration which includes features that manage underlying data.
BI infrastructure – All components of the system share common methods for handling such things as security, metadata (e.g. – data definitions), and overall system administration.
Metadata management – The same metadata is used throughout the system. This enables easy reuse of metadata objects (e.g. - dimensions, hierarchies, measures, performance metrics and report layout objects) to support data consistency and quality across the enterprise.
Development tools – A robust, flexible toolset is provided to developers for creating integration and analytic processes.
Collaboration – As a part of the system users are provided with a means to collaborate as a part of development and analytic processes.