{"id":5925,"date":"2021-11-09T10:10:46","date_gmt":"2021-11-09T09:10:46","guid":{"rendered":"https:\/\/connamix.testwebseite.org\/what-is-business-intelligence\/"},"modified":"2021-11-09T10:10:46","modified_gmt":"2021-11-09T09:10:46","slug":"what-is-business-intelligence","status":"publish","type":"post","link":"https:\/\/connamix.com\/en\/what-is-business-intelligence\/","title":{"rendered":"What is Business Intelligence?"},"content":{"rendered":"\n<p>Business Intelligence or, short, BI, is a set of operations, structures, frameworks, and technologies that translate raw data into meaningful, significant information that drives profitable business actions. Nowadays, people define BI as a collection of software and services with which they can convert data into actionable intelligence and knowledge.<\/p>\n\n\n\n<p>BI directly impacts the organization\u2019s decisions on a strategic, tactical, and operational level. Organizations will get support in fact-based decision-making, referring to historical data rather than assumptions and intuitive feelings.<\/p>\n\n\n\n<p><a href=\"https:\/\/powerbi.microsoft.com\/en-us\/what-is-power-bi\/\">Typical BI tools <\/a>fulfill data analysis and establish dashboards, graphs, maps, and reports\/summaries. It also provides charts to supply users with detailed intelligence about the nature of the business.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Why BI? Why is Business Intelligence crucial? Is it that important? Is it useful?<\/h2>\n\n\n\n<p>Let me make it short: whatever you want to know: the answer is yes.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Create Key Performance Indicators based on historical data<\/li>\n\n\n\n<li>Identify and determine reference points for different processes.<\/li>\n\n\n\n<li>Identify trends and business problems you need to fix.<\/li>\n\n\n\n<li>Visualize data and enhance data quality and, therefore, the quality of decision making.<\/li>\n\n\n\n<li>It can be used not only by big organizations but small and medium enterprises as well.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Trends in Business Intelligence<\/h2>\n\n\n\n<p>When talking about Business Intelligence, there\u2019s no way not to mention some analytics trends:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Artificial Intelligence<\/strong><br><a href=\"http:\/\/connamixsolutions.de\/tag\/artificial-intelligence\/\">AI and Machine Learning<\/a> take on complex tasks done by human intelligence. Organizations can make use of this capability and work with real-time data analysis and dashboard reporting.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Collaborative BI<\/strong><br>Combine collaboration tools, social media, and more latest technologies to boost your teamwork and collaborative decision-making.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Embedded BI<\/strong><br>Integrate BI software or single features into your different business applications and improve and extend the reporting functionality.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">How to implement Business Intelligence?<\/h2>\n\n\n\n<p>To implement BI systems, are three simple steps to follow:<\/p>\n\n\n\n<ol class=\"wp-block-list\" type=\"1\">\n<li>It extracts raw data from corporate databases (if needed: form multiple, heterogeneous systems)<\/li>\n\n\n\n<li>It cleans the data and brings it into the data warehouse, which then builds data cubes. Tables can be linked.<\/li>\n\n\n\n<li>The users can now require journals, work with ad-hoc reports or carry out any other analysis.<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\">BI&#8217;s advantages and disadvantages<\/h2>\n\n\n\n<p>Talking all good about Business Intelligence makes it obvious: there are a lot of advantages and benefits. But are there some disadvantages, too? Let\u2019s have a closer look at some points to consider and keep in mind:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Advantage<\/th><th>Disadvantage<\/th><\/tr><\/thead><tbody><tr><td><strong>1. Boosted productivity<\/strong><br>BI allows businesses to create reports with a single click, thus saving time and resources. It enables employees to be more productive on their tasks.<\/td><td><strong>1. Cost<\/strong><br>BI can turn out costly, especially for small and medium-sized enterprises. But its use may be expensive for routine business transactions.<\/td><\/tr><tr><td><strong>2. Improved visibility<\/strong><br>BI can optimize the process\u2019 visibility. It also helps to identify any areas that need attention.<\/td><td><strong>2. Complexity<\/strong><br>Another downside to mention is its complex data warehouse implementation. It can be so tough that it can make business techniques stiff and inflexible.<\/td><\/tr><tr><td><strong>3. Fix accountability<\/strong><br>Business Intelligence assigns accountability in the organization. There has to be someone responsible for checking the organization\u2019s performance against its set goals.<\/td><td><strong>3. Limited use<\/strong><br>Like all improved technologies, BI started to consider the buying competence of rich firms. So BI may not be affordable for many small and medium-sized companies.<\/td><\/tr><tr><td><strong>4. Bird\u2019s eye view<\/strong><br>BI gives an overall bird\u2019s eye view with its typical features like dashboards and scorecards.<\/td><td><strong>4. Time-consuming implementation<\/strong><br>It takes almost one and half years for a data warehousing system to be implemented entirely. Therefore, it is a time-consuming process.<\/td><\/tr><tr><td><strong>5. Business processes streamlines<\/strong><br>With BI, there\u2019s no more business process complexity. It runs analytics automatically and provides predictive analysis, computer modeling, benchmarking, and other practices.<\/td><td><\/td><\/tr><tr><td><strong>6. Easy analytics<\/strong><br>BI keeps on getting easier to work with \u2013 even for nontechnical or non-analysts users. They all can collect and process data quickly, which allows the power of analytics from many people\u2019s hands.<\/td><td><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business Intelligence or, short, BI, is a set of operations, structures, frameworks, and technologies that translate raw data into meaningful, significant information that drives profitable business actions. Nowadays, people define BI as a collection of software and services with which they can convert data into actionable intelligence and knowledge. BI directly impacts the organization\u2019s decisions [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":""},"categories":[447],"tags":[216,222],"class_list":["post-5925","post","type-post","status-publish","format-standard","hentry","category-digital-transformation","tag-artificial-intelligence","tag-business-intelligence"],"acpt":{"meta":[]},"acf":[],"_links":{"self":[{"href":"https:\/\/connamix.com\/en\/wp-json\/wp\/v2\/posts\/5925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/connamix.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/connamix.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/connamix.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/connamix.com\/en\/wp-json\/wp\/v2\/comments?post=5925"}],"version-history":[{"count":0,"href":"https:\/\/connamix.com\/en\/wp-json\/wp\/v2\/posts\/5925\/revisions"}],"wp:attachment":[{"href":"https:\/\/connamix.com\/en\/wp-json\/wp\/v2\/media?parent=5925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/connamix.com\/en\/wp-json\/wp\/v2\/categories?post=5925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/connamix.com\/en\/wp-json\/wp\/v2\/tags?post=5925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}