What is Business Intelligence and how it transforms your business
This is not the first time that we have stated here on the blog about how we are experiencing the fourth industrial revolution and the central role that data plays in the allocation of demands. But the discussions surrounding what Business Intelligence is are even older than today's own personal computers. And in today's post you will understand this segment in detail.
What is Business Intelligence?
We can say that Business Intelligence is a set of techniques that assist in strategic decision-making within the most diverse business segments.
In general, the main BI techniques involve the ability to transform into data the most diverse activities of a given company, both within its environment and outside, in relation to the perception of customers, competitors, and the like.
Business Intelligence shines when it creates new information that is specially designed to provide a broad view of market opportunities. And that happens in a variety of ways.
One of the largest and most promising companies in the world, IBM, which has existed since the 19th century, is one of the great giants in the segment, and has been working tirelessly on it. Much of the way large businesses are organized has to do with their suite of solutions.
How Business Intelligence operates
The main characteristics of BI revolve around the fact that it is scalable and customizable.
The concept has made the market evolve since the 60's and has evolved along with it. The ability to integrate different tools and offer guidelines for so many different models is precisely its greatest asset. BI is totally dependent on dice, and like in a virtuous cycle, it grows and increases effectivity of the very creation of that data.
Let's look at practical examples: let's say that a retail company is looking for ways to invest in a new segment and needs to reduce costs. BI tools can be employed using data from your ERP system to find inconsistencies or opportunities.
The same can happen for HR sectors seeking to optimize employee satisfaction or productivity. By understanding which processes are more or less productive, it is possible to access the reports created by employees or materials generated by the platforms they use.
Already when we talk about marketing, it is possible to employ an enormous set of tools to understand the company's online reputation, the reactions on its site, the customer profile, which are the best-selling products and much more through analytical tools, of ORM and the like.
Budget planning also greatly benefits from BI's ability to cross data from different segments to provide new perspectives for the sector that manages and revises its budget, as well as to ensure a rigorous review of the company's fiscal organization.
Now imagine that all of these different sectors can be integrated to create an impressive volume of information custom for different needs and means of visualizing how the company has worked.
After all, each company is in a different phase of development and formulas that work for one may not work for another.
The key benefits of Business Intelligence
Although always associated with large companies, today, more than ever, BI offers solutions especially for small and medium-sized companies to rise to the next level, after all, The latest technological advances increasingly guarantee a digital environment in tune with the technologies that are determining the future. More than that, BI brings:
Business maturity
In addition to its ability to provide important strategic market insights, BI is also responsible for ensuring enormous learning for teams that employ it in their routine, bringing a new way of thinking and integrating sectors, making a business culture is formed in an organic way.
Bug discovery and resolution
In fact, BI has much more to do with discover errors and gaps rather than finding strengths, after all, one is measured through the other. The success of the goals is quantitative most of the time, while the gaps are often not.
It is by discovering our flaws that we are more attentive to the definition of goals, and by identifying performance errors, wastes, and the like that we are able to reduce costs and increase current revenue for new applications.
Update several professionals
As professions of the future they will increasingly deal with the digital and with the ability to interpret information. This does not mean a replacement, but rather a professional upgrade.
Machines and artificial intelligence came to promote automation of processes and thereby reduce redundancy and dull work, creating more opportunities for constructive and intellectual activities.
Advance drive motor
We can say that Business Intelligence was responsible for the great explosion of digital transformation to fill a growing demand for technologies, especially in the marketing area.
The more open the platforms become, the greater the competitiveness among diverse thinking minds to deploy constructive technology.
Increased competitiveness
Above all, the digital era brought several opportunities for competitiveness through market intelligence, with opportunities for rapid and organic growth, activating entrepreneurship in various segments.
BI offers several opportunities to investigate your gaps in relation to competitors and perform the ideal benchmarking.
More security
Because it is a management of quantitatively solid data from multiple sources, BI provides more security for those who want to take a new step.
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