Business Intelligence (BI) is a broad classification that has different meanings across different sized business organizations. It is implemented in different ways, but no matter what the organizational size, BI is company data gathered and presented in ways that provide a strategic approach to evidence-based business decision-making.
For us, this includes creating or working with data marts, data lakes, data warehouses, and also may include data from other sources as well.
Business Intelligence (BI) allows us to work with multiple data sources in a way that it can provide meaningful reports, charts, and graphs.
BI provides a wide variety of evidence-based information that management needs to know for optimal organizational performance aggregated into summary report form, often referred to as “dashboards” including,
As the level of influence of technology over business grows, so, too, does the importance of the analysis or “analytics” of actual data provided by technology. Bygone are the days of decision-making based only on the gut-feelings of sales and management executives. Today, decisions about inventory, sales, and HR are made from dashboards and scorecards that provide visualization of data-based facts, not just guesses or feelings.
Our favorites, RevealBI.io and Microsoft PowerBI gives us the ability to quickly leverage the knowledge of our software architects about business and the kind of summary data that allow an organization to grow and prosper. Visualizing the effect that a “hot product” is having on sales may spur promotions on related products and knowing that one department is experiencing high turnover may occasion supervisory or management changes. Imagine having that kind of information – summarized, every day, on your desktop. Decisions that influence profit can be made in a proactive fashion rather than in a reactive fashion. With Power BI, we can provide this kind of data analysis in as little as 10 business days at a very reasonable cost.