The article is all about basic terminologies such as BI, SOR, OEM, and agile software development and Agile business intelligence.
The term business intelligence is defined as the technology or strategy for better data analysis of business data in a better way. Business intelligence is a very important technology that is used by most of the organizations for their convenience. However, business intelligence provides a deep analysis of the business data so that organizations can take sound and informed business-related decisions. There are some common features and functions of business intelligence which may include online analytical processing, process mining, data mining, and predictive analysis. Thus, business intelligence is used widely to support numerous range of decision-making processes.
Role of Business intelligence
In general, business intelligence is a type of software that is used for enhancing the overall performance of an organization in an easy way. Nowadays, business intelligence solutions are adopted by major industries or enterprises to turn their business data into a plausible action. The role of business intelligence is very crucial for the organization point of view.
Factors of business intelligence are:
- Improves better planning and analysis of the business data.
- Increased accuracy is also considered as the major factors of business intelligence
- Business intelligence is very helpful for increasing the sales forecasting
- The involvement of business intelligence allows organizations to scale their overall product pricing criteria.
The term SOR is an acronym of the system of record and is defined as an authoritative source for storing an element in the system. Generally, it contains multiple sources of a similar element. It is one of the crucial parts of the business for better outcomes.
Thus, the system of record approach is the best-suited method for those environments where:
- All customers have similar requirements
- Single authority for all data consumers
An OEM stands for Original Equipment manufacturer and is defined as a company whose goods are used as the product components of another organization. There is a decent relationship between a car manufacturer and a maker of spare parts which demonstrates OEM in a detailed manner.
This can be explained via the following example:
Microsoft corporation supplies its goods such as Windows equipment and software to Dell technologies, which fix this software into its own computers and laptops and then sell it to the public. This is a clear example of OEM.
Agile software development
In order to develop better projects, agile methodology is very important. It is defined as the system development approach under which software is developed through the collaborative effort of self-organizing teams and users. It typically involves adaptive planning, evolutionary development, and early development. It involves several frameworks like Scrum and Feature drove development.
In other words, agile software development is considered as a set of frameworks and practices that are based on different values to develop quality projects. In Agile software development, project deliverables are carried out after successful completion of one phase.
To explain Agile software development, there are 12 key principles:
Principle 01. Customer satisfaction via early and continuous delivery
Principle 02. Agile processes harness change for the competitive advantage
Principle 03. Deliver working software frequently with a focus
Principle 04. Business people and developers should work together
Principle 05. Develop projects efficiently
Principle 06. Face to Face conversation
Principle 07. Working software is a primary success measure
Principle 08. Agile processes should manage a constant Pace
Principle 09. Give attention to technical and design excellence
Principle 10. Simplicity
Principle 11. Best requirements architectures and design emerge
Principle 12. Able to solve conflicts and flaws
Governed data recovery
Typically, a governed data discovery refers to a way to discover and address the requirements of business users for easy data delivery. It is a time-saving process and is considered as a better option for data management. It’s an IT-driven technique for data security.
Agile business intelligence (BI)
Typically, agile business intelligence is defined as the approach of business intelligence that uses Agile software development mechanisms to gain Business intelligence outcomes. Generally, the agile methodology provides several processes that analyses processes of Agile in an easy way. As with the agile initiative, the overall cost of change is reduced.