360 Business Intelligence

Business Intelligence

There are many benefits to creating business intelligence programs including accelerating and improving the process for decision making, the optimisation of internal business processes, the increase of operational efficiency, driving new revenues, and gaining the competitive edge that every business needs.

BI systems can also be responsible for the identification of market trends, analysis, business direction, team stimulation and the identification of problems that can, and may occur within a business.

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The Evolution of BI

The different types of BI data that can be used to improve your business is historical data to better understand the evolution of your business, as well as new data collection and gathering from different source systems, enabling BI analysis to support tactical decision making and assist in strategic support. BI tools where primarily used by team members within businesses that would query data from a database to produce different reporting services, but we have seen an increase in data intelligence initiatives after the introduction of self-service BI platforms.

What is BI?

Business intelligence represents a variety of data analysis application, it is one of the most powerful tools or initiatives that any business can implement in order to get insightful knowledge on their business. These systems include:

  • Ad hoc analysis & querying
  • Enterprise reporting
  • OLAP – online analytical processing
  • Mobile BI
  • Real-time BI
  • Operational BI
  • Cloud and software-as-a-service (SaaS) BI
  • Open source BI
  • Collaborative BI
  • Location intelligence

These are all very useful for businesses, especially when they are coupled with data visualization software, giving you the ability to design charts, reports and infographics.

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