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CVM BI Multi-dimensional Analysis Tools and methodologies for implementing Business Intelligence (BI) are wide spread and varied. While some are designed for specific markets or applications, all are built around the same technological concept: dimensionalizing data.
This technology extends the capability of a regular relational database to allow users to quickly and easily view data from fresh perspectives. If you've used Excel, Access or even an enterprise level relational database, then you know the standard way of looking at data is rows and columns. In other words - in two dimensions. The report output from these systems is also two dimensional in that numbers are calculated against only the two axis of the report. For example, "sales by product and fiscal period" is a typical 2-D report.
What happens when you want a "sales by product, by sales rep, by fiscal period?" When limited to 2 dimensions, the ensuing report is big and cumbersome. But, what if you could add a third dimension - in essence creating a "cube" of data? You would be able to drill down into reports and find relationships that would have never be clear in a traditional report.
The technological concept underlying all BI solutions is something called the data cube. Very simply, it is a database technology that creates multi-dimensional relationships among your data. The "cube" nomenclature is a little misleading because, in reality, these systems offer the capability to create and perform analysis among multiple dimensions. For example, a "sales and margins by product (rolled up to product family), region, by customer, by fiscal period (rolled up to Fiscal Year)" report.
Another powerful feature of BI tools is the ability to "drill" into reports. Notice the mention of "roll-ups" in the previous example. Image in the power of a four dimensional report that allowed you to drill into products, regions and dates.
Finally, BI systems share a few other capabilities. They are designed to operate against potentially massive quantities of data, providing a high-level view not possible with traditional reports. They are designed to create and recalculate reports quickly and "on the fly." Additionally, users have the ability to drag and drop dimensions and reformat the report in real time. Depending on how the tool is implemented, the underlying data can be a day old or a minute old.
BI is an exciting technology and an exciting opportunity for your business. Read about our consulting services to find out how CVM can help you leverage its power for your business.
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