Have you ever started a new job in an industry you have no experience in? Learning the industry jargon can be overwhelming. I can personally attest to this because prior to working in the
Business Intelligence (BI) and Corporate Performance Management (CPM) worlds, I was in the food, public relations, and entertainment industries, and did not have much experience in BI or CPM. If you have recently been exposed to BI tools, such as report writers, budgeting and planning solutions, dashboards, data warehouses (DWs) and you feel like a deer in headlights, there is no need to panic. In this article, we will discuss ten acronyms in the BI/CPM realm that will help you understand and enhance your experience with BI and CPM processes.
Here are the top 8 business intelligence acronyms that may be resourceful when dealing with BI & CPM solutions
1. Extraction, Transformation, and Loading (ETL)
ETL represents three database functions that are combined into one tool to extract data from one data source. The ETL process is the practice of extracting data from data sources and transferring it into the DW. ETL isn‚Äôt necessarily three defined steps, but rather a broad process.
2. Data Warehouse (DW)
Informatica defines a DW as an acronym for data warehouse meaning, ‚Äútechnology that aggregates structured data from one or more sources so that it can be compared and analyzed for greater business intelligence.‚ÄĚ The term ‚ÄúData Warehouse‚ÄĚ was coined by William H. Inmon, an American computer scientist. This is an analyst‚Äôs dream because all the metrics about the organization‚Äôs activities are gathered in one place. You can find out more about the details of a successful data warehouse here.
3. Relational Database Management System (RDBMS)
A RDBMS is a program that enables users to administer, create and update a relational database. Commercial RDBMS typically use the Structured Query Language (SQL) to access the database. A relational database is described as ‚Äúa set of tables containing data fitted into predefined categories‚ÄĚ by TechTarget.
4. Online Analytical Processing (OLAP)
OLAP, also known as ‚ÄúOLAP cube,‚ÄĚ performs multidimensional analysis of data and offers the ability for complex calculations, advanced data modeling, and trend analysis.
5. Key Performance Indicator (KPI)
A KPI is a lot like a GPS navigation system as it allows the driver to be in complete control when making decisions about where to steer next. KPIs are navigational tools that your company will utilize to understand whether the business is on a successful route or whether it‚Äôs veering off. According to¬†Klipfolio, a KPI is ‚Äúa measureable value that demonstrates how effectively a company is achieving key business objectives.‚ÄĚ You can learn more about KPIs and KPI strategies in detail in the following articles: 10 Steps to Successful KPI and Metric Design Using Dynamics GP, Part 1 and 10 Steps to Successful KPI and Metric Design Using Dynamics GP, Part 2. Keep in mind that there are vertical specific KPIs; therefore, do some research.
6. User Interface (UI)
In the IT world, UI is designed into a device within which a user can interact. This includes keyboards, display screens, a mouse, and a desktop. It can also include how a user interacts with the application or the website. Companies‚Äô dependence on applications has led organizations to prioritize improving the user‚Äôs overall experience, also known as UX.
7. SQL Server
Microsoft SQL Server is a relational database management system that was developed by Microsoft.
- SQL Management Studio (SSMS) ‚Äď SSMS is an integrated environment used to administer a SQL Server Infrastructure. If you‚Äôre not familiar with a SQL Server, it is a relational database management software developed by Microsoft.
- SQL Server Integration Services (SSIS) ‚Äď SSIS is used to execute a wide range of data migration tasks.
- SQL Server Reporting Services (SSRS) ‚Äď SSRS is also part of the SQL Server services. It is a server-based report generating system that stores metadata and object definitions. You can learn more about the SQL Server on the Microsoft site.
8. Amazon Web Services (AWS)
AWS is a subsidiary of Amazon, and offers cloud computing platforms. AWS is also the competing platform against Microsoft Azure, formerly known as Windows Azure. Companies will be more exposed to AWS and Microsoft Azure as the cloud gets bigger. Cloud Computing platforms provide an easy way to access storage, servers, databases, and applications. It also provides quick access to flexible and low-cost resources.
If you are in the BI/CPM space, you may have seen the terms above used widely. For those who are new to the industry, I hope defining and laying out these terms give you a better understanding of the BI/CPM industry as well as the industry jargon. We’re happy to answer questions and generally review Solver‚Äôs web-powered, easy-to-use Excel and mobile BI tools with both real-time or data warehouse integrated analysis, budgeting and collaboration as a way to accelerate your company performance management experience.
Solver enables world-class decisions with a leading web-based CPM suite made up of budgeting, reporting, dashboards, and data warehousing, delivered through a web portal. Solver is reinventing CPM with its next generation solution. BI360 empowers business users with modern features including innovative use of Excel in the model design process. If you‚Äôre interested in learning more, our team is excited to hear about your organizational needs and goals.
This article will focus on Cloud Financial Reporting and Budgeting for Banks.
New technology has drastically changed the way we communicate. – My 18-year old daughter has just discovered the show called The Office starring Steve Carell.¬† The show came out in 2005 and we are wrapping up season two. What is striking is that all the sales representatives have flip phones and need to return to the office and login to their laptops or personal computers to transact business.¬† Read more
This article will detail the effects of a commercial data warehouse for manufacturing and distribution organizations utilizing Microsoft Dynamics AX for their financials.
Data is the rightful buzzword for this era of business, perhaps especially for manufacturing and distribution organizations trying to meet their roadmap goals.¬† As data continues to grow in size and significance, data warehousing becomes a related task for modern business.¬† Even if you know a thing or two about data warehouses, you might have some questions or curiosities about them and how they relate to your manufacturing and/or distribution analytical processes.¬† Who manages a data warehouse? Are they like anything besides an OLAP cube?¬† At what point should a manufacturing and/or distribution corporation install one?¬† Cloud or on-premise?¬† How do we set up a data warehouse?¬† As a manufacturing or distribution Microsoft Dynamics AX customer, you likely have at least one of these questions.¬† This article will do the work of answering some of the more frequently asked questions, so you can more clearly see how data warehousing can be a solution for data management objectives with Microsoft Dynamics AX.
This article will discuss financial report writers in today‚Äôs marketplace for manufacturing organizations looking to expand their SAP Business One experience.
Have you used a Fitbit before to track your fitness activity, diet and sleep? If you have specific fitness goals to be healthier and the Fitbit carries all the features and functionalities you need, this tracker is perfect because it describes in detail an event, situation or occurrence. Similarly, a financial report writer collects and presents financial data so that it can be analyzed. Reporting is the necessary prerequisite of analysis. Reporting makes data understandable and ready for accurate and efficient analysis so you can better reach your company goals. This article will discuss your options for features and functionalities that third party solutions are offering for your SAP Business One (SAP B1) system, specifically zooming in on data management and analysis in manufacturing companies.
This article discusses the modern, dynamic, and business user friendly financial reporting options available for Healthcare organizations using Sage 100.
It has been a while since I have blogged, and in that time, I have had several great opportunities to talk to finance and accounting professionals, as well as executives, about their Business Intelligence (BI) and Corporate Performance Management (CPM) needs.¬† Some of these conversations happened at BI360 Focus 2016, some of these manifested as one-off conversations, and one even occurred on a flight to Portland.¬† Lately though, it seems like I have not only been in conversation with more healthcare professionals, but I‚Äôve also found myself personally and professionally curious about this industry.¬† The healthcare industry seems to be one of the most complex and regulated sectors ‚Äď and for good reason obviously, but the effect it has on financial reporting requires sophisticated, yet business user friendly BI tools.¬† The best financial reporting tools for Sage 100 users offer Healthcare-specific data management that produces the necessary financial reporting and/or dashboards.
This blog article will focus on modern financial reporting with Sage 100.¬† I‚Äôll first discuss the bigger picture of what you should be looking for to achieve your financial reporting and analytical objectives.¬† Then, I‚Äôll zoom in on the financial reporting modules delivered by certain, more dynamic products that can enable Healthcare organizations to produce traditional financial statements, meet regulations, and present information to key stakeholders and decision-makers.
This article will explore financial reporting features and functionalities in today‚Äôs solutions for manufacturing organizations looking to expand their Sage 100 experience.
In today‚Äôs business world, Business Intelligence (BI) and analytics are becoming the modern way of turning valuable company data into rich decision-making for a company‚Äôs future. Navigating through BI is much like maneuvering through the wilderness without a map or a compass. It can get overwhelming, but I‚Äôm here to help. This article will focus on what users should know about in modern reporting solutions to improve your Sage 100 experience, specifically zooming in on manufacturing data management and analysis.
This article will zoom in on the impact of a data warehouse solution for manufacturing companies using Sage 100.
Corporations use data to set and meet goals in order to stay on budget. A data warehouse is a powerful tool to organize and strengthen Business Intelligence (BI) analyses. A data warehouse (DW) is a multi-dimensional database that can store a large amount of data, collected from an array of sources within a company and utilized to guide management decisions. The information in data warehouses can be used for things such as scheduled budgeting, reporting, and dashboards or higher level performance data questions. They structure around the subject, so they focus the interaction through organizing by topic such as customer, product, or sales. As a manufacturing company using Sage 100, you may want to know the impact a data warehouse solution has for your company.
Data is increasingly more important in today‚Äôs business world, perhaps especially for Professional Services organizations.¬† As data informs decision-making at all levels, Professional Services organizations are striving to stay on budget and on track with projects, vendors, clients, and so forth, a data warehouse can be positively impactful in supporting Business Intelligence (BI) analyses.¬† If you‚Äôre new to data warehousing as a solution, you might have some questions.¬† This article will go about answering your questions about data warehousing as a Professional Services organization using Microsoft Dynamics AX.