BUSINESS INTELLIGENCE

 BUSINESS INTELLIGENCE

What is business intelligence ?

Business intelligence is a set of tool and processes that helps organizations, analyze data and make informed decisions .

Business intelligence is about using the right data to get the right information to the right decision makers at the right time.

DEFINE BUSINESS INTELLIGENCE ?

Business intelligence is a set of processes and technologies that convert raw data into meaningful information that drives profitable business actions.

How data is processed ?

The most important thing in the business intelligence is that how data is processed . 

There are many steps involved in data processing .

1. Data Collection 

2. Data Integration 

3. Data Analysis 

4. Decision Making 

1. Data Collection :

                                   In this step data is collected from different sources such as from Internal Database ,Coustomer Interactions Web analytics and from Social media .

 

2. Data Integration :

                                     In this step data is integrated and transfer data into unified format .

Transformed data from various sources is then merged into a central data warehouse.

3. Data Analysis :

                                In this step data is analyzed by using different techniques such as  

   .Exploratory Analysis 

   .Statistical Analysis 

   .Data Visualization 

   .Machine Learning Algorithm 

   

4. Decision Making :

                                      In this step the decision is made after these all steps .

These decisions refine marketing strategies to improving customer experience and identifying new business opportunities and improve overall performance .

BUSINESS INTELLIGENCE TECHNIQUES 

These are the some techniques which are used in Business Intelligence.

* Statistical analysis

* Visual analysis

* Reporting

* Dash board

* Od jacqueries

     Traditionally BI has been also understand a decision Support system data directly contributes to decision without intensive and advanced analytical techniques.

The basic characteristics for BI tool is that it is ability to collect data from heterogeneous source to possess advance methods and the ability to support multi users demands.

Categories of BI Analysis

1) Predictive analysis 

2) Descriptive Analysis

3) prescriptive Analysis

4) Statically Analysis 

*- Benefits of BI

*-Enhanced Decision Making 

                                BI enable organized to make informed decision based on facts rather than assumptions or instruction.

*-Increased operational efficiency

                                 Business intelligence streamlines by identifying bottlenecks, optimizing process and highlighting areas for improvement .

*-Improved customer experience 

                                Ready access to data can help employers charged with better experiences.

*-Improved Employee Satisfaction 

                                Provide Users access to data without having to contact analysis with BI ,Firms can identify their most profitable customer and the underlying reasons for those customers loyalty as well as identify future customers with comparable. If not greater potential.

BI Lead To 

*-Fact based decision making

*-Single version of the truth 

*-Useful. Actionable insight from stored dates 

*-Effective business decisions can be made 

*-Quick decision can be made

Some Disadvantages of BI

 1) Initial cost

2) User Resistance 

3) Data skills Gap

4) Piling of Historical data

5) Complexity 

6) limited Use

7) Time consuming implementation