What does Cognos mean?
Cognos is a business insight and execution the executives programming suite sold by IBM. The product suite was intended to empower non-specialized work force in extensive undertakings to separate corporate information, break down them and afterward deliver reports that would enable the business to settle on educated choices. The suite is made out of in excess of twelve separate items, which were based on open guidelines to enable them to speak with different outsider advancements, from multidimensional and social databases to big business review programming, for example, SAP and Oracle.
Cognos was originally the name of the company that created the Business Intelligence suite that is now named after it. The company was founded in 1969 by Alan Rushforth and Peter Glenister, and was originally called Quasar Systems Limited, which was then a consulting company working for the Canadian government. It shifted its focus to software sales in 1980 and renamed itself to Cognos in 1982, taken from the Latin word “cognosco,” which means “knowledge from personal experience,” a rather apt name for the type of industry the company was in. The company was later acquired by IBM on January 31, 2008, losing its independent existence but retaining its legacy in the software suite it developed, which also bears the same name.
Cognos is a Web-based, integrated business intelligence suite that provides a powerful toolset for mining, analyzing, scorecarding and monitoring of events, data and metrics. It allows a business to become top performing and analytics driven, giving it the capacity to actually predict or find market trends and then react to them with informed decisions.
The software suite contains the following basic components:
- Query Studio – allows for simple queries and self-service reports that answer all basic business questions
- Cognos Connection – the Cognos Web Portal, the starting point for all functions provided in the suite
- Report Studio – used to create management reports including maps, charts, lists and repeat functions
- Event Studio – a notification tool which reports on enterprise events in real-time
Analysis Studio – used for analyzing and understanding information about a business event or action, identifies trends and helps users understand anomalies and deviations, also contains OLAP functionalities, among others
Originally a Canadian-based business intelligence and performance management software solutions provider, Cognos was acquired by IBM in 2007 and has since had its software renamed as Cognos Business Intelligence and Financial Performance Management, or Cognos BI and FPM for short.
Cognos software is currently used to help businesses gain a better understanding of their financial performance strengths and weaknesses as well as help set targets and effectively allocate the resources necessary to achieve those goals.