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Business intelligence:
BI is a technology driven process for analyzing records and offering actionable facts which
helps executives and managers
and other company quit customers make knowledgeable commercial enterprise decisions.
BI encompasses a huge range of tools, functions and methodologies
that allow groups to gather statistics from inside structures and exterior sources put
together it for analysis develop and run queries in opposition to that information and create
reports dashboards and records visualizations to make the
analytical consequences accessible to company decision-makers, as properly as operational
workers.
Uses of (bi):
"Adapt or die" as the well known adage goes This is as actual for living creatures as it is for a
business.
Those companies that unable to adapt to alternate can and commonly will go bust very
quickly This is the place BI can offer a commercial enterprise a sort of insurance
plan coverage to discover traits and adapt appropriately.
But it is no longer all just about a rely of survival. BI can be used
to help identify future opportunities for the enterprise to amplify into or exploit.
If used effectively BI (and workforce training) can enhance choice making considerably at
all ranges of a business It can for example assist a business.
Gain insights into patron behavior To Turn Data into Actionable Information and To Improve
Efficienc
To Gain Sales & Market IntelligenceTo Gain Competitive Intelligence
(bi) features:
1.Executive dashboards
Personalized Dashboards supply relevant without difficulty understood real-
time information to commercial enterprise leaders enabling faster and better decision-
making even as lowering response times to interior and exterior events. Executives need get
admission to to personalised dashboards that deliver easy-to-understand KPIs
and precis facts on a regular, scheduled basis. Additionally exception reporting have to alert
the government to sudden activities and eventualities that require action.
Personalized statistics delivery means executives are capable to
make choices quickly, besides any guesswork, and besides having to wade through beside
the point information.
2. Location Intelligence
Location Intelligence is the capacity to map and visualize data in geographical formats.
Exploring and visualizing information units based totally on
spatial factors permits companies to understand their enterprise operations from new
perspectives, such as income per region.
4. Interactive reports
Interactive reviews help customers convert records into knowledge.
They permit users to better recognize the evaluation inside reports and the
underlying facts those reviews are based on to support better decision-making.
User must be in a position to: Drill down and via reports Conduct slice and cube OLAP
analysis
Apply evaluation such as moving averages and regression to highlight traits in data
Use time-series zooming to scan giant facts units to apprehend anomalies in their data
Use conditional formatting to set statistics indicators which highlight data exceptions
5. Meta statistics layer
A metadata layer makes reporting easy and eliminates the need for coding and
SQL, permitting customers and document writers to see and get admission
to information in easy commercial enterprise language. Users totally interact with facts at
the meta facts stage except having to comprehend the complexities of the
underlying information or database.
6. Ranking reports
This function lets in you to create reviews that order particular classes of information,
from across a couple of dimensions by selecting particular criteria. Ranking reports let you
view the exceptional and worst performing factors of your business. For example, you ought
to create a document that ranks your
10 pleasant promoting products, areas or sales people.
What corporations use BI:
As you would assume many larger multi-nationals and companies have been the use
of BI tools for years. Some of the most outstanding include, however are no
longer confined to (courtesy of tekleaders.com):
1.Netflix Uses Business Intelligence to Improve Recommendations.
2.YES BANK Improves Internal Communications.
3. American Express Detects Fraud with BI Software.