4 elements of an efficient business intelligence tool

There are so many business intelligence tools on the market, all promising a competitive edge for your business. A good start is ensuring the software is compatible with your ERP and the tool has built-in content relevant for your industry. Most business people need access to data quickly so being able to rely on industry specific dashboards and metrics makes adoption across the business more accessible. To ensure your investment in business intelligence is future proof, we also have a 4 point checklist to consider.

An efficient BI tool is comprised of 4 elements:

1 - Flexibility

A quality BI tool must be able to be deployed across several platforms, available inthe cloud, and accessible via all technology. Users expect to have the flexibility to use their chosen BI cloud solution regardless of location, device, and infrastructure. Data access has no boundaries.

2 - Security

A BI tool without strong security protocols is like a car without wheels . Business users expect an administrative level of protection. Phocas customers benefit from 24/7 continuous security monitoring and 24/7 incident response and forensics (IRF), performed both by Phocas and our security partners. This monitoring is designed to protect all data including highly sensitive data.

Routine updates help Phocas stay ahead of emerging threats based on comprehensive security controls including anti-virus (AV), intruder detection system (IDS), file intrusion monitoring (FIM), vulnerability scanning and log management. You want benefits like two-factor authentication and user-specific data sources. When data is the lifeblood of your business, you need a solution that considers security of the utmost importance.

3 - Scalability

Business needs alter over time. Customers want to implement a solution that’s going to grow with them. An efficient BI tool has the capacity to scale as user numbers increase, regardless of deployment method. At the same time, the solution must have performance features that adapt as company goals and strategies change.

4 - Simplicity

An efficient BI tool must be built with the end users in mind. Users want to find real-time information on an ad hoc or needs basis and modify the results as necessary. The dashboards and user experience must be intuitive to find information easily. To take the data to the next level, you can collaborate with colleagues to track business performance, assign tasks, and assess customer engagement . Users need to be able to schedule reports for better planning and analysis.

Phocas provides businesses with all of the features noted above. By harnessing Phocas' simple but powerful analytical capabilities, you can maximize opportunities for your organization. With Phocas, you can

• Access data in seconds
• Compare sales, whether local, regional, national or international
• Forecast
• Study and address inventory concerns
• Measure profit margins
• Analyze budgets
• And more!

You need an efficient BI tool. To learn how Phocas has transformed the way business people access and make decisions with data, download our ebook about Building the case for a business intelligence tool.