Ask the Expert

What are the best analytical tools for business intelligence for finance?

Question: What are the best BI tools that can be implemented in financial markets for pattern analysis?

    Requires Free Membership to View

Answer: When you speak of the best business intelligence (BI) tools for financial services, my answer would be devoid of industry/application consideration since the tools are not industry specific. The most critical factors to application success are the data design, the quality of the data and the interpretation of the data.

One data architecture that works well with financial data is multidimensional OLAP. Oracle/Hyperion Essbase and IBM Cognos are examples of this. Oracle/Hyperion Financial Reporting is an example of a specialized financial tool that borders on an application.

If you're looking for some intellectual property consideration around financial and not looking to build it all yourself, you may look at an application instead of just a tool. Oracle/Hyperion Financial Management is an example of an application in the financial services market.

However, for pattern matching, I can't help but wonder if after-the-fact reporting is good enough. Your needs may fall into the category of complex event processing, which is more geared to real-time pattern analysis. I would recommend looking at Coral8 and Progress Software. Good luck.

This was first published in May 2009

There are Comments. Add yours.

 
TIP: Want to include a code block in your comment? Use <pre> or <code> tags around the desired text. Ex: <code>insert code</code>

REGISTER or login:

Forgot Password?
By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy
Sort by: OldestNewest

Forgot Password?

No problem! Submit your e-mail address below. We'll send you an email containing your password.

Your password has been sent to: