Organizations are increasingly becoming dependent on accurate and timely information to remain competitive in their core businesses. Real-time data marts and business intelligence solutions are focusing on getting the right information to the right person at the right time. The choice of a real-time business intelligence solution requires an analysis of your requirements so that you get the one most suited for your business.
Relevant Factors:
Implementation of a real-time business solution is more than just the tools or technologies associated with the solution. You have to consider:
o The system must provide the required outputs while being able to refresh the data marts real-time.
o A cost -benefit analysis of being able to extract real-time information
Business Intelligence Solution Capabilities:
1. Defining Real-Time: The definition of real-time will depend largely on the information needs of your organization. Some organizations, like banks, require responses within a few milliseconds. In others operating under a different set of conditions, responses in minutes may be acceptable. Of course, you have to factor in the time to update the data. Considering this additional time, solutions are mostly known as near real-time and meet the requirements of most businesses. All users of the solution should be made aware of the system capabilities. Businesses must differentiate between information that is required in real-time from that which is acceptable in a later timeframe.
2. Sourcing Data: Various options are available, depending on your requirement of accessing information:
o Real-time integration tools come with a real-time data replication engine that is separate from the batch integration engine. The data replication engine does its work by leveraging the database logs. The cost of such a system is correspondingly higher. A simpler and more cost effective solution is to have database native replicators.
o Database triggers are an alternative to real-time systems.They cost less and are low on maintenance. They work by posting changes captured in the source system into a separate staging area, from where the real-time integration engine reads it continuously.
o Display: Graphic visuals are the preferred as they provide an overall view of the business or the desired function. Analytic dashboards are now essential and d supplement numeric and statistical information.
o Information Delivery: In addition to providing the right information at the right time, it is equally of consequence that this information is delivered at the right place where it is conveniently accessible. Gadgets and technologies in the market make this eminently feasible and dashboard reports or exception alerts can easily be routed to PDAs or other web-enabled devices.
o The system must deliver information to meet both operational intelligence and analytical intelligence needs. Top management not only needs dashboards and alerts. Middle management is fact the more prolific user of operational and analytical information. This aspect must be ensured during the design phase.
Attention to the aspects outlined above will ensure that your solution meets your business needs. Having planned and designed the system deliberately, entrust its implementation to an experienced and qualified solutions provider so that the benefits translate directly to your bottom-line.
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