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What is Business Intelligence? Why do you need a BI solution?

Blogs - Tuesday 21st May 2019

It’s time to stop running your business on intuition and start running it with intelligent information.

If you’re overwhelmed by data and looking to convert raw data into meaningful information to drive profitable business actions it might be time to implement an effective BI solution.

Simply put, Business Intelligence is nothing but a set of processes to convert your data into structured analyzable insights that enable strategic decision making. It is a technology driven process made of data mining, online and analytical processing, querying and reporting.

In today’s world, almost every action leaves a digital footprint and the organizations are left with tons of data but no real information.

It’s probably more helpful to understand the advantages of business intelligence and analytics. According to a survey conducted in United States by the Harvard Business Review analytics service, 59 percent of respondents felt that the ability to access data anytime, anywhere was an important benefit of business intelligence and data analytics to their organization.

Some other important outcomes of using business intelligence tools according to the survey include:

  • Accelerated and improved decision making
  • Boost in sales and marketing performance
  • Drive accountability across the organization
  • Increased competitive advantage
  • Improved customer experience and satisfaction
  • Faster time to market and harvesting innovation
  • Improved planning and forecasting

 

If you are looking to achieve one or all these goals your own business intelligence platform is the way to go. Some key areas we will help you with –

Build a scalable BI architecture – This will help understand the ‘As Is’ architecture and understand the disparate data sources bringing in data in multiple formats

ETL – Extract, Transform and Load the data coming in in structured, un structured and various formats to transport it to your Data Warehouse

Data Modeling – Basis your business KPIs, model your data using scripting languages such as Python, R and the type

Build interactive dashboards – Using visualization tools such as MS Power BI, Domo, Tableau (tool of your choice) build custom and interactive dashboards.

Integrate additional data sources – Bring in data from your Social Feeds, Marketing platforms, web analytic tools, DMPs and move them to activation channels

Embed – Integrate these mobile ready dashboards, in your apps, on your websites, as widgets and even build custom visuals with restricted access for your clients.

For more insights about Business intelligence & Analytics, contact us – kishore@dctinc.com

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