Yellowfin Business Analytics Are a “Welcome Development”

In a recent article by independent analyst Barry Devlin, the Yellowfin 7.2 Business Intelligence platform was mentioned favorably in the context of closed-loop decision-making. Devlin describes this decision-making model as “Monitor, Evaluate, Decide, Act” – and on one hand, this model makes sense. As Devlin notes, “The basic premise is that an adaptive organization continuously monitors (senses) its environment for change, evaluates possible reactions, and decides and acts (responds) accordingly.” The system is a closed loop because the action taken is then monitored to determine its effectiveness, thus completing the loop.

This model is so simple it seems perhaps too good to be true. And that is the case, according to Devlin. In his words: “The loop is fragmented between different tools, such as dashboards, spreadsheets, BI discovery tools, collaborative tools, and so on. Some areas are supported only poorly, if at all.” Yellowfin’s BI platform, however, tries to guide organizational decision-making back towards this model.

While many modern BI tools are aimed at making new operational discoveries and insights, Yellowfin’s 7.2 platform takes a more process-oriented approach. The platform has multiple features along these lines, including a “smart tasks” item that allows tasks to be assigned to IT personnel. Progress on these tasks may then be tracked from a central location. Other collaborative features in Yellowfin 7.2 include discussion boards, timelines and a polling feature. All of these are contained within the Business Analytics Workflow, a new framework for version 7.2 of the platform.

The 7.2 platform contains a number of other features, such as an open API connector framework for third-party applications. It also includes additional capabilities to help with forecasting and trend analysis. While a detailed looked at these capabilities is outside the scope of this article, more information about the Yellowfin 7.2 platform can be found via the Yellowfin press release or the product website.

Key Takeaways:

– Decision-making in organizations, particularly regarding BI decisions, rarely looks as clean as it does in Devlin’s hypothetical model.
– The Yellowfin 7.2 Business Analytics Workflow is designed to take a process-oriented approach to BI decision-making.
– The Yellowfin 7.2 release extends the capabilities of the platform beyond the new Business Analytics Workflow