Business intelligence, or BI for short, is the process of acquiring, analyzing and visualizing data to provide useful information and knowledge to an organization. Knowledge of relevant and up-to-date data helps the company in strategic decision-making and leads to improved performance. The concept of BI encompasses various methods, technologies and tools for collecting, managing, analysing and presenting data to enable organisations to better understand their business operations and processes.
As far as the data collection itself is concerned, it is usually sourcing from a variety of sources, both internal and external, typically o databases, websites, social networks, CRM systems and others. Data can be structured (for example, numeric data) or unstructured (for example, text documents).
The essence lies in a comprehensive analysis
The business intelligence platforms then cleanse the data, remove duplicates and transform it into a suitable format so that it can be analysed. And that gets to the heart of it. Data analysis is a key element of business intelligence. Using various analytical techniques and tools, it is possible to identify patterns, trends and key information in the data collected. This includes generating reports, dashboards and visualisations that make it easier to understand the data.
What is the goal of business intelligence?
The aim of business intelligence is provide management with relevant and up-to-date informationthat will allow him to make decisions. BI help identify areas where performance and productivity can be improved. Based on analysis and data findings, organisations can make changes and optimise.
Microsoft Power BI is an innovative platform business intelligence, which offers real-time data monitoring. This allows you to react immediately to events and changes in your organisation's environment. Business intelligence plays, or should play, an important role in all organisations, whether they are businesses, government agencies, non-profit organisations or other entities. It helps them better understand your data, leading to more effective management and competitive advantage. We would be happy to introduce Microsoft Power BI and discuss the benefits it would bring to your business. Contact us.
