Here’s how business intelligence improves the way work is done in six key areas: Customer experienceĪccess all your customer information in one place, so you can direct resources to key areas that will positively impact customer engagement and support. Business intelligence enables real time adjustments and long-term strategic changes that eliminate inefficiencies, adapt to market shifts, correct supply problems, and solve customer issues. Viewing current and historical data in context with business activities gives companies the ability to quickly move from insights to action. Step 4: Take action on insights in real time Reporting methods include interactive data dashboards, charts, graphs, and maps that help users see what’s going on in the business right now. Step 3: Use data visualization to present findingsīusiness intelligence reporting uses data visualizations to make findings easier to understand and share. BI tools often feature several types of data modeling and analytics-including exploratory, descriptive, statistical, and predictive-that further explore data, predict trends, and make recommendations. Step 2: Uncover trends and inconsistenciesĭata mining, or data discovery, typically uses automation to quickly analyze data to find patterns and outliers which provide insight into the current state of business. This data is then transformed and remodeled before being stored in a central location, so applications can easily analyze and query it as one comprehensive data set. Step 1: Collect and transform data from multiple sourcesīusiness intelligence tools typically use the extract, transform, and load (ETL) method to aggregate structured and unstructured data from multiple sources. Before using BI, businesses had to do much of their analysis manually, but BI tools automate many of the processes and save companies time and effort. The first three-data collection, analysis, and visualization-set the stage for the final decision-making step. There are four keys steps that business intelligence follows to transform raw data into easy-to-digest insights for everyone in the organization to use.
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