Business intelligence software apps refer to computer-based applications and tools that are used to translate raw business data into insightful, and thus more useful, information for business analysis decisions. Such a software application can manage vast amounts of unstructured, unprocessed business data to help organizations to spot, grow, and even generate new business prospects and tactics. Broadly observed, business intelligence software includes three basic sets of operations: data discovery, data management, and reporting, and it is expected to include a large suite of metrics, evaluation tools, and analytical capacities. The app can either be a standalone application, or can be integrated in multi-operational project management software.
Pricing details are a key consideration when you evaluate SaaS providers. Ask the provider if they offer price protection and contractual flexibility. “Shelfware” has become a major problem in SaaS licensing as buyers end up shelling out for more than they need. Plus, to get pricing predictability, buyers are forced to subscribe to long-term contracts. Make certain you don’t get saddled with perpetual licensing and get locked in for a long period with a single provider. Ask about easy exit policies that assist you to migrate to another provider if you are not satisfied with the services offered by the current one. Select a vendor that offers a handy standard annual termination facility as well as long-term cost protection.
Another important aspect to consider is whether the cloud vendor meets compliance and security requirements. Your firm is answerable to employees, consumers, business partners, and regulators. Therefore, you should select a provider that has deployed a technically sound and comprehensive security system. Map your security control needs such as availability, integrity, confidentiality, privacy, and accountability to the vendor’s capabilities. Ask the potential vendor about the procedures 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 specific industry? Get satisfactory answers to these questions before you make the investment.