- November 2, 2019
- Posted by: Chowdhury Shahid Uz Zaman
- Category: Business
Companies process large amounts of data.
What do these data translate into?
It is important to be able to analyze them and then concretize them in decisions that are useful to the company.
Is there a process capable of achieving this goal?
Have you ever heard of Business Intelligence?
This is a fundamental process within a company and we will now explain why …
What is Business Intelligence?
The Business Intelligence is a technological process serving companies to act starting from data analysis. It prepares information that is immediately useful as a basis for making business decisions.
The big news in Business Intelligence technologies is that they can handle large amounts of structured and unstructured data with the aim of identifying, developing and creating new strategic business opportunities.
Why Business Intelligence is fundamental for your company?
These technologies aim to simplify the interpretation of big data as much as possible, to identify new opportunities and implement an effective strategy based on in-depth information.
With what benefits?
Business Intelligence ensures competitive advantages and long-term stability.
However, there are two different types of Business Intelligence, let’s see together what the differences are and what you should adopt.
The two types of Business Intelligence
Among decision-makers and entrepreneurs, there is a heated debate on which Business Intelligence should be adopted.
But let’s take a step back.
When is this tool essential?
When managers have a good understanding of what they are analyzing, such as sales numbers or customer satisfaction statistics, but they have no idea of the final results.
This is where Business Intelligence comes into play.
Let’s see what are the two types you can use, when you should choose one and when the other.
The first form is the strategic Business Intelligence and it is fundamental when the decision-makers do not yet have clear ideas.
It is often associated with a periodic data collection from a source or from a data archive to be analyzed.
How does an entrepreneurial process improve?
Thanks to the analysis of a predetermined set of data that translates into tables and graphs representing trends, opportunities and critical areas.
The other type is operational Business Intelligence, which is used when managers already have information beforehand about events.
It provides sensitive information to operational managers, business professionals and their employees who are in direct contact with customers, in order to support daily work processes.
Communication methods and devices are fundamental in operational business intelligence.
Your product includes invoices, programs, shipping documents, receipts and financial reports.
In addition to these differences in functioning, the two types of Business Intelligence also differ with regard to the information provided because they are based on target customers.
After understanding the differences, let’s see what software you need to install to be able to use them.
Business Intelligence software
If you have a company and want to be competitive on the market, you must use the right Business Intelligence tools.
Why is this necessity presented?
All companies produce data, but they are usually loaded by hand.
Business Intelligence software can save you this work.
The goal of these tools is to manage big data and guarantee a real-time analysis, in an autonomous way and able to provide results quickly.
For this reason, Business Intelligence tools have emerged that companies can use to achieve new results in their business.
Now we want to talk about the tool we recommend most when it comes to Business Intelligence.
Microsoft Business Intelligence
In this field could not miss a Microsoft product.
The company provides users with a Business Intelligence tool that includes both the free version and the paid version, despite the cost being very cheap.
Power BI is the tool created by Microsoft to analyze the data of any type of corporate business.
It has been recognized as a reference point in the analysis and Business Intelligence platforms.
What is its success due to?
It processes data coming from any source and quickly transforms it into clear and captivating graphics that can be shared with one’s colleagues, offers an extremely extensive cloud and gives the possibility to collaborate and share the dashboards created.
Everyone can simply use it, thanks to its intuitive and simplified appearance. It’s perfect for analysts, IT and developers.
What is the final result?
Data transformed into practical information becomes essential for studying new business strategies.
Every company works with a large amount of data that is often managed in a disorganized way and whose full potential is not exploited.
If you want to make the most of all your resources to start realizing really competitive business strategies, you must definitely try Business Intelligence.
Our team of experts will find the solution that best suits your needs.