A typical business leader is not simply an entrepreneur, but someone who is more confident, intelligent, and inventive to perform insightful business leading. An ideal business leader can launch a new enterprise and further invest their time and energy to establish it. In addition to these, they possess exceptional talent in inspiring people. A business leader needs to be a good communicator too who can share factual and logical information to others.
Business leaders are also responsible for implementing business policies and strive for the success of the business. They set goals to achieve and develop strategies to meet the milestones as quickly as possible. However, there can be many adverse impacts also in business leadership. As they strive to reach the set goals quickly, their approach may lack sustainability many times if the economic and market conditions are unfavorable.
A business leader’s role is important from the start-up period of a business itself when they can develop all business on their own. However, as the business progress, it may not be that easy for business leaders to get involved in every aspect of its administration. Here comes the importance of technology to assist business leaders to take appropriate decisions at the right time. In the fast-changing competitive market environment, data is the key resource for business leaders.
Business Intelligence with Data
If a business leader wants to strengthen the management approach, then it is essential to have the right technology partner. Nowadays, innovative Business Intelligence systems are out there to help the business leaders to make better decisions based on data and analytics. Oracle is an ideal Business Intelligence tool which helps to enhance enterprise decision making through data gathering, accessing, storing, and insightfully analyzing the business data.
The traditional features of storing, updating, querying, and reporting were the focus of database tools; however, this had gone a long way with the BI initiatives evolved over the recent years. Oracle now offers enterprise-wide comprehensive database management and business intelligence platforms like self-service Business Intelligence management to meet up with the changing market requirements and business challenges.
Business Intelligence is actually a combined pool of systems and tools which aid in strategic planning for business and to aid in data analysis. All these solutions offer a unique source of data to analyze all various data sources of a company and permit business users to execute DB queries themselves without assistance from database administrators easily. Over recent years, there had been many laser-focused querying tools and reporting platforms which came into the market to work with enterprise-wide applications.
Decision Support Software
Often, BI applications are also considered as decision-support applications, which can not only analyze the historical data but can also come up with insightful information by analyzing the sales patterns, market trends, price fluctuations, and consumer behavior at different instances to make policymaking more efficient. BI made data warehouses much wider in combination with CRM packages, e-commerce applications, and much more enterprise-wide software to access and use information stored in databases.
This online evolution in data-centric business leadership encompasses many changing trends in the industry as self-service data management and also there is also a trend towards market consolidation. As RemoteDBA.com says, Oracle is now one of the leading players in data-centric Business Intelligence, whereas there is a tight competition with other industry giants focusing on this sector like IBM, Microsoft, and SAP, etc.
Oracle’s Business Intelligence Approach
Oracle’s BI bouquet comes with many unique products focusing on corporate users like:
- Oracle BI Suite Enterprise Edition Plus
- Oracle BI Standard Edition One
- Oracle BI Oracle Publisher etc.
The BI suite acts as an enterprise solution in order to create, manage, and delivery custom formatted documents. Oracle database can be integrated easily with the above Oracle BI products by using a middleware Fusion and combine with the analytical software (Like Siebel Systems) another recent acquisition by Oracle. The major advantage is that this product group not only works for Oracle but for the non-Oracle environments too.
Back in 2007, Oracle had taken a huge leap in terms of BI establishment by acquiring Hyperion System 9 BI+. This was actually Hyperion Essbase before, the named derived from Extended Spreadsheet DB. Oracle renamed it as Oracle Essbase and added to their product line. Essbase has an analytic feature, dashboards, and perfect reporting capabilities. It effectively combines the BI functionality with financial applications to make it a full-spectrum BPM (Business Process Management) system than being a BI tool.
Another addition to the BI product line by Oracle was the RTD (Real-Time Decisions) platform, which combines predictive analysis with rules and enables real-time Business Intelligence with the use of top performing transactional servers. The server is capable of rendering decisions automatically for a business process and provides actionable intelligence based on data. With further advancement in Oracle BI, the decision making the task of the business leaders has become much easier and more precise.
Even though applicable to all size and types of organizations, Oracle DB’s BI tools are more applicable to the industries and businesses with a huge number of customers and tight market competition. These must handle huge data volumes. The leading Business Intelligence application of it are:
- Analyzing the market and Sales trends.
- Understanding consumer habits in buying.
- Financial management.
- Assessing the performance of the Marketing campaign.
- Analyzing and predicting seasonable market demand.
- Assessing vendor relations.
- Evaluating performance and staffing needs.
Even the non-traditional business segments now need enterprise-wide BI solutions like Oracle DB. One of the major areas in the Healthcare sector, which is now the focus area of not only developers but also data managers. Oracle DB Business Intelligence is also used by government agencies, where it can track the tax revenues from corporate and monitor the benefits to public services.
The users of BI solutions like Oracle BI now prefer to get a total solution suite which can address not only the handle the database but also the functions across the organization. Oracle has effectively catered to this changing trend by developing their end-to-end proprietary solutions and also through mergers with the allied service providers.