In today’s business environment you have to seize opportunities in real-time, staying agile and able to engage rapidly and readjust your business strategies. To be successful, your teams need to be interconnected and collaborative with easy access to valuable corporate data, metrics, and information that is relevant to your organizational needs. Basically, things you'll find within a customized business intelligence (BI) dashboard.
While there are several BI dashboard options available, there are a few key reasons that businesses choose IBM Cognos over other common solutions.
Using IBM Cognos for Business Intelligence
IBM Cognos is a simple, easy to implement, product that offers organizational agility as a centralized business dashboard that connects everyone with the insight, information, and analytics they need to make smarter, faster, and more informed decisions. It combines the most comprehensive dashboard reporting with ease of use and high levels of customization and integration with existing data sources and analytic software.
Importing your data into Cognos couldn't be simpler with a built-in and intuitive migration tool that will guide you step-by-step through the process. With incorporated support of multiple external data sources including databases, warehouses, and even social media sources you'll be certain to have the most accurate and up-to-date data.
By utilizing a business intelligence dashboard, you'll discover previously unnoticed trends and gain valuable insight into areas that are typically more difficult to discern. Here are some great BI dashboard examples for reference.
Simply put, you will get more out of each and every data point you collect.
5 Big Benefits of IBM Cognos
Cognos will specifically benefit your company in these five ways:
1. It leverages your data by analyzing information to reveal hidden insights so you can make confident and informed decisions with improved operational efficiency.
2. It offers powerful "what if" scenario tools that allow you to make more confident decisions with predictive analytics, allowing you to plan and reach your organizational goals faster.
3. It transforms your business from a reactive model to a proactive organization. Identifiy corporate risks and new opportunities from the get go!
4. With Cognos Studios you can easily design and create a custom dashboard. In just a few simple steps you can interact with this information for greater business intelligence insights.
5. Create dynamic reports with an easy to use drag and drop user interface for content authoring, relational or dimensional data, multiple data layouts and visualizations, various styles and formatting, distribution, and incorporation of multiple external data sources.
Using IBM Cognos to Establish Performance Metrics & KPI’s
Every business has different goals and objectives, therefore success is measured in different ways. By establishing performance metrics and identifying key performance indicators for your company, you can more clearly identify the data you need in order to gauge your success. Ultimately, this will allow you to better allocate resources to the areas that best fit your organization's goals for growth.
When faced with a wall of data, it is difficult to identify, let alone —extract the information on which you need to focus. In Metric Studio, you can create and deliver a custom scorecard dashboard to monitor and analyze the performance metrics you have identified as key. Users will be able to monitor, report on, and analyze, time-critical information by utilizing scorecarding based on any number of desired cross-functional data points.
Within the Cognos Intelligence Operations Center, you can configure your company's unique KPI's and performance metrics. From the KPI dashboard, customize the navigation tree for performance indicator hierarchies and create impactful reports to emphasize data that is important and relevant to you, your business, and its stakeholders.
Download our free resource: Business Dashboard Software, Design & Reporting Guide.
Strategy Development Using BI Dashboards
Keep in mind that having data and access to business intelligence is not the same thing as having a strategy. In order to develop a corporate game plan that utilizes your data, you first need a BI dashboard that delivers content in a way that is actionable and insightful to both the planning and implementation stages.
For an enterprise seeking to differentiate from the competition by utilizing business intelligence or those wishing to leverage their data towards growth and scaling, you have to determine which components need to be monitored.
Some of the components impacting the success of strategy development include:
- metadata and social data
- data quality and integration
- data modeling and analytics
- centralized metrics management
- reporting, dashboards, and portals
- knowledge management
- master data management
A comprehensive business intelligence dashboard not only displays the data relevant to your business but also defines the data insights that are critical to the development, planning and success of strategic business processes.
When it comes to choosing, implementing, and migrating existing data to a new BI dashboard, there is a lot to consider. You need a product with a proven track record of collecting, displaying, and combining relevant data and reporting in ways that are actionable.
The Case for Cognos
Today's market is far too competitive to engage solely in reactionary measures. You need insights that are forward-looking and predictive in order to uncover and exploit hidden opportunities and identify and mitigate risks and likewise potential for success. Dashboarding and scorecarding features that have the ability to include multiple customization options are important features for providing your team with the necessary data to drive sound decision-making across your entire organization.
Cognos offers excellent solutions as a BI dashboard product, and 5X Technology is ready to help you implement these solutions. From getting your team onboarded faster to complete integration and migration services, training, and support. Our experts are also available to consult with you on business development strategy as well.