business intelligence
one minute of reading
Business Intelligence processes vast data from multiple sources, empowering firms to make informed decisions by analyzing market trends, competitors, and other.
Business Intelligence is the process of transforming large amounts of data (big data) into reliable and clear information, based on which a company gains knowledge that allows it to grow and become more competitive in the market. It includes a set of practices, activities and modern technologies, which can be both ready-made and universal solutions, as well as dedicated software for companies created based on the analysis of its activities, problems and needs.
Business Intelligence - smart tools for increasing the competitiveness of any organization
Every company employs specialists who have the right knowledge, experience and qualifications to analyze data, nevertheless working with data and spreadsheets alone gives a high probability of missing important data especially when working with large distributed data sets. Business Intelligence provides modern tools and intelligent solutions that allow quick processing and visualization of data, making it easy to understand for all company employees even those who do not have the necessary technical knowledge.
Such systems usually provide a mobile version, so that every member of the company can access the data regardless of the type of device they are using and where they are. In addition, smart data analysis tools use a number of modern technologies, such as real-time notifications, virtual assistants and voice functions, which significantly improve productivity. Business Intelligence brings many benefits, the most important of which are:
- fast, automatic processing of data and its presentation in a visual way;
- constant access to data for each user of the software, which allows to have a better insight into the company's profits, costs or sales;
- optimization of costs associated with the company's functioning or employees' work efficiency;
- gaining information that allows you to detect problems and errors in the functioning of the company, and therefore quickly repair them and counteract them in the future, which increases the competitiveness of the company;
- excellent insight into the effectiveness of marketing campaigns;
- quick return on investment in software specifically designed for Business Intelligence.