Nowadays in IT world , we are pretty aware about the term “Business Intelligence”. But what is Business Intelligence, let’s have a pictorial definition about this.
WHAT IS BUSINESS INTELLIGENCE:
So , from the above picture , we can conclude that Business Intelligence is set of strategies , processes, product , application , data and technologies which transform raw data to useful information.
WHY BUSINESS INTELLIGENCE
- Get Deeper insights in business operations
- Improve productivity and efficiency
- Informed decision making
- Improve customer service and satisfaction
- Streamline budgeting and planning
- Financial decisions
- Overall business performance tracking
BI DATA AT DIFFERENT STAGE
FUNCTIONS OF BUSINESS INTELLIGENCE
- Online Analytical Processing
- Data Mining
- Process Mining
- Complex event processing
- Business performance management
- Predictive Analytics
STAGES OF ANY BI PROJECT
KEY AREAS OF ANY BUSINESS INTELLIGENCE SOLUTION
Personalized dashboard delivers KPIs and summary information on a regular and scheduled basis.
2.Map view / visualize data in geographical formats
Exploring and visualizing data sets based on spatial information
3. “What if” analysis
Using existing data, formulate strategies to achieve business targets
4. Interactive reports
Cover data into knowledge.
5. Meta data layer
Interact with data at the meta data level without having to comprehend the complexities of the underlying data or database
6. Ranking reports
The best and worst performing aspects of your business.