Collaborative Business Intelligence on the Rise

By | May 8, 2014

Collaborative business intelligence (BI) is gaining steam as more firms realize the productive benefits of BI. These offerings fold BI and social media tools into one solution so firms can truly understand and share their data to improve decision making.

Fueling Collaboration

The collaborative BI process fuels better decision making at organizations. According to new research from Dresner Advisory Services reported by Information Management, more than 60 percent of global organizations surveyed find collaborative BI important. Dresner, a BI-focused research firm, explains that the growing interest in collaborative BI puts it in the same category as other highly sought-after technologies, including big data and social media.

The firm found that the collaborative BI industry has room to improve when it comes to mobile support. The research also found that tech, financial services and health care firms find the most value in the technology compared to other industries. Meanwhile, the sales and marketing business functions tend to find it most critical. The survey also pointed out that the collaborative technology of the virtual meeting will become more popular, and as a result, smaller firms will take part in file-sharing activities.

The Capabilities

Through BI vendors, midsize firms are turning to collaboration capabilities to create a more productive work environment, one that uses the collective intelligence of workers to connect various business insights. Through collaborative BI, firms can expand the reach of the information they want to share, gain feedback, easily share insights and update and annotate documents to include informed dialogues and familiar integration interfaces. Collaborative BI also helps employees coordinate meetings and tasks with ease and convenience.

IT professionals at midsize firms are turning to various BI solutions to gain productivity from better decision making. Today, the rise of mobility and the consumerization of IT have created a fast-paced business environment, and firms of all sizes need to catch up in the most cost-effective way; often, BI solutions make the difference. Collaborative BI, which emphasizes the sharing of knowledge and acting on data, is increasingly being considered by smaller firms. Vendors are specializing in helping IT professionals at growing firms include collaborative BI software in their information infrastructures.

Collaborative Future

Midsize firms understand that the potential of BI solutions is greater than ever. To level the playing field and remain competitive, firms are moving ahead with collaborative business intelligence to help solve business problems, increase valuable communication and create a more collaborative and interactive working environment. Mobile and social business platform growth show no signs of slowing, so being as collaborative as possible will be key to future growth.

This post was written as part of the IBM for Midsize Business program, which provides midsize businesses with the tools, expertise and solutions they need to become engines of a smarter planet. Like us on Facebook. Follow us on Twitter.

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