12 Mar What is Business Intelligence?
Business Intelligence (BI) is how an organization uses technology to find and visualize data to make more well-informed decisions. This process is generally broken down into four steps: Data Discovery, Data Analysis, Data Visualization, and Data Integration.
The first part and possibly the most important is Data Discovery. A BI team goes over all the data to find where and how the relevant pieces are stored and how it is all connected. After finding the data, it is time for Data Analysis. During this stage, the team will perform analytical queries to determine if any initial theories they developed during the discovery phase are true. The team will also use this phase to expand and develop more theories on connecting the data and gathering useful insights. After combing all the data to find the right pieces, the BI team will use tools to create dynamic reports and charts that visualize that data in bite-sized, easy-to-read information in the Data Visualization phase. These reports and charts become more granular as the business user expands each field to provide high-level overviews and detailed comparisons. The final phase for any good BI team is Data Integration. This step shows business users how to interact with the data and discover more insights for themselves. Data Integration is critical for a business to engage in Business Intelligence for maximum benefit fully. After a business is fully integrated with BI, it is important to remember these resources not to make business decisions. Still, they do aid with providing as much information as possible.
But what does that mean for you and your business?
Certainly, you don’t need another task to find the right report for your next meeting. And certainly, you don’t need a chart showing where your time and money are going with no actionable way to improve.
That is where the Business Intelligence team at Abacus Technologies steps in.
We believe that giving you the information is business knowledge, and that is only half the battle. We also believe that if you aren’t better today than you were yesterday and you’re not better tomorrow than you were today, you are falling behind. Helping you create solutions and improve your business every day is where the intelligence part comes into play. Our team will dig into your data and pull out the information you need so you can make well-informed decisions for your business. We specialize in taking reports you need to see and creating automatic delivery systems so you consistently have the most up-to-date information delivered right to your inbox. If you have specific breakpoints, you would like to monitor. We can create alert systems, so you know when your numbers are dipping into those dangerous levels and take action to correct them. We can also create automation processes for certain repetitive tasks to leverage your people for more complex ones. Our team is not interested in only showing you what you are currently doing; we want to help you take your business to the next level of clarity and efficiency.
Are you ready to improve your business? Contact us today to show you areas where you can and equip you with the tools to do it!