Business Intelligence refers to the use of a set of strategies and functionalities that enable intelligent business decision-making based on knowledge.
The information taken into account for this decision-making process will be collected in multiple ways and its sources will be both internal and external. Therefore, applying Business Intelligence consists of analysing and processing the different data available to the company.
Typology of Business Intelligence tools
There are countless tools on the market that facilitate business intelligence, but, in summary, they can be classified as follows:
Monitoring and data collection : they are used to extract and collect all the data that can be used to analyse the market, the competition, the stakeholders...
Data management : allows data purification and its correct transformation into a multidimensional database for later use.
Reporting : Its function is to capture, simplify and adapt the data for its application. These are the ones that allow, after a study, analysis and understanding of the data, its graphic representation in the reports.
Business Intelligence Dashboard
The 5 most used Business Intelligence tools on the market
The market offers multiple options and choosing one or another will depend on factors such as: company size, specific needs, budget...
The most commonly used today are the following:
Microsoft Dynamics 365
It offers a set of business applications that allow you to manage all of the company's data (sales, marketing, services, operations and commerce) to have a global view of it. This comprehensive perspective allows you to make decisions based on the current state of the business.
IBM Cognos Analytics
It brings together a set of functionalities that allow monitoring, analyzing and creating business reports to make correct decisions.
Tableau
The platform offers three packages of data analysis tools to apply business intelligence: for the individual analyst, for teams and with built-in analysis. They all have the same purpose: to convert company data into useful information for decision making.
Sisense
This analytics platform is used to create, integrate and deploy online analytics applications using interactive dashboards, self-service analytics or white-label business intelligence applications.
It allows you to integrate data models, manage them, analyze them and transform them graphically on any business page.
Gooddata
Monitoring platform that allows you to collect, prepare and distribute data after centralizing it through simple dashboards and reports.
Business Intelligence Glossary
It is very easy to get lost in the universe of Business Intelligence applications and platforms, so it is best to take a training course that will allow us to correctly apply the collection and analysis of the multiple data that surround the model.
Therefore, knowing the terminology is essential:
OLAP Systems (OnLine Analytical Processing)
Procedure that allows the collection of databases oriented to online analytical processing, which serves to speed up the consultation of large amounts of data. It can be referred to as multidimensional cubes or, simply, OLAP cubes (on line analytical processing) since this system relates the data, giving greater importance to the analysis of the same than to its collection, simulating precisely that, a cube.
OLTP Systems (OnLine Transaction Processing)
Procedure that allows the collection of databases oriented to transaction processing. Its use is used to perform data insertion, modification and deletion operations.
ETL processes
This process of applying ETL tools is developed in three phases: extract, transform and load. The correct development of these allows organizations to move records from different data storage locations and load them into other platforms, analyze them and use the extracted information for decision making.
Data mining
Process that allows the detection of errors, patterns and relationships between kuwait phone number search large amounts of data in order to predict results and anticipate events that may affect the business.
Dashboards
Graphical representation of those indicators that are considered key to achieving the set objectives. This tool is useful for visualizing information, decisions and results.
Data Warehouse
A set of company data that are gathered for the same purpose, regardless of their source and/or origin. This repository of information is usually used to organize, understand and make strategic decisions based on business information.
Business Intelligence Dashboard
He works in a Business Intelligence department
In recent years, this professional profile has become one of the most in-demand in the market, and more and more business owners understand the importance of correctly monitoring the multiple data that their business receives for strategic business decision-making.
As we have seen, there are many Business Intelligence tools that make the task easier, however, certain training and certain skills are necessary to use them correctly. Are you interested in training as a professional in the area of Business Intelligence and new technologies?