Business Intelligence (BI)
by Addend Analytics Addend AnalyaticsBusiness
intelligence (BI) provides accurate, worthy info to the best people at the best
period in buy to help them in making business decisions. It is certainly a
collection of technology that assists in combining and examining data to
assure the improvement of the business. It collects data from different resources
and shops it in one common specific location (Data Warehouse) which makes the
work easier for the people who desire to evaluate the data.
Essential
elements of BI solutions are data mining, analyzing of data, benchmarking,
visualization of data, reporting, predictive analysis.
Let
us appear in every element in detail
1. Data mining: data mining is normally
collection of data or removing the data from a huge supply of data and compile it
therefore, it shall help in increasing sales or decrease the cost.
The
types of data can be unstructured or structured.
2. Analyzing of data: analyzing data is
usually a collection of raw details from the various resources and convert it
into important info that will help the business to have a better decision.
3. Benchmarking: in business intelligence,
benchmarking terms can be used for evaluating the various requirements in the
sector. Simply because of the quality of performance & price of a company’s
product to set the standards in the market. it helps in improving performance.
4. Visualization of data: visualizations
of data in business intelligence makes the data understandable, visible. It
tells how to represent the data. So, it’s concept can be convenient.
5. Reporting: In business intelligence
reports are provided to the companies after collecting from different sources
& compiling it which will be beneficial for the corporation.
6. Predictive analysis: It uses
mathematical models to estimate future results and what will be trends in
the future. Recommendations are provided to ensure that the result will be
positive & it will also reduce the risk of losses & improves the
performance.
In
brief one can say, Business intelligence is extracting raw data from different
sources, saving it at one place and transforming it into valuable information
which is necessary for running the business. Used effectively, it predicts the
future trend of the business also.
This
in turn, helps to generate new opportunities for business and helps in running
the continuing business efficiently.
We are Microsoft certified experts in Predictive Data Analytics technologies i.e. Power BI, SQL Server, Azure data warehousing. Addend Analytics, helps you to accelerate this journey and make it easier and highly predictable by doing all the heavy lifting. Our team not only designs and implements these solutions but also trains all stakeholders and hand-holds for faster adaption. To know more about the big data warehouse, Visit us now!
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Created on Jan 21st 2020 03:48. Viewed 396 times.