Business intelligence software apps refer to computer-based apps and tools that are employed to translate raw business data into insightful, and thus more useful, information for business analysis purposes. Such a software system can manage huge amounts of unstructured, unrefined business data to enable companies to spot, develop, and even create new business opportunities and tactics. Broadly observed, business intelligence software encompasses three basic sets of operations: data discovery, data management, and reporting, and it is expected to include a large suite of metrics, evaluation functionalities, and analytical capacities. The system can either be a standalone solution, or can be integrated in multi-operational project management software.
Pricing details are an important consideration when you evaluate SaaS providers. Ask the provider if they offer price protection and contractual flexibility. “Shelfware” has become a major issue in SaaS licensing as buyers end up paying for more than they require. Plus, to get pricing predictability, customers are forced to subscribe to long-term contracts. Make certain you don’t get saddled with long-term licensing and get locked in for a long time with a single provider. Ask about easy exit policies that enable you to move on to another provider if you are not satisfied with the services provided by the current one. Select a provider that offers a convenient standard annual termination facility as well as long-term price protection.
Another key aspect to consider is whether the cloud vendor meets compliance and security requirements. Your business is answerable to staff members, customers, business partners, and regulators. Therefore, you should select a provider that has deployed a technically sound and comprehensive security program. Map your security control needs such as availability, integrity, confidentiality, privacy, and accountability to the provider’s capabilities. Ask the potential vendor about the practices and systems they use to protect your confidential data. Do they meet general as well as industry-specific compliance and security regulations? Do they provide special measures to meet the unique security needs of your particular industry? Get satisfactory answers to these questions before you make the investment.