Introduction to Business Intelligence (BI) & Analytics
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Introduction to Business Intelligence & Analytics
Business Intelligence (BI) is the process of collecting, analyzing, and translating raw data into accurate, efficient, and meaningful information that can be used to make intelligent business decisions and business strategy. As part of the BI process, organizations collect data from internal IT systems and external sources, prepare for analysis, create queries against data, create data visualizations, and make BI dashboards, reports, and action plans available to business users.
BI is a technology-driven process for analyzing data and delivering actionable information that helps executives, managers and workers make informed business decisions. Business intelligence comprises the strategies and technologies used by enterprises for the data analysis of business information. BI technologies provide historical, current, and predictive views of business operations.
This technology
helps the organization to increase profits and business which directly affects
the revenue.
Why Business
Intelligence is important?
Business intelligence can help companies make better decisions by showing current and historical data on their business environment. Analysts can influence the BI to provide performance and competitive standards to make the organization run smoothly and efficiently. Analysts can find market trends to increase sales or revenue. BI Testing not only helps to achieve a trustworthy decision support system (DSS) but also certifies your BI Reports and hence improves the credibility of your business. Inaccurate BI Reports affects organization’s credibility and exposes them to compliance and legal issues. It can also lead to hefty fines. Organizations therefore cannot afford to ignore BI testing.
- Identify Ways to Increase Profit Business Profits
- Analyze Customer Customer Behavior
- Compare data with competitors
- Track performance
- Optimize operations operations
- Success Predict Success
- Spot market trends
- Issues Identify problems or issues
- Identify emerging business and market trends
- Develop strong business strategies
- Increase high sales and new revenue
- Achieve competitive advantage over rival companies
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