Business Intelligence Significato – Which enable access to information and its analysis to improve business performance and make predictive decisions. This is the official definition
As early as the 1960s, the idea arose to use the data collected inside and outside the company as a treasure from which any decision-making process could be supported. Indeed, the term BI, coined in those years, indicated a system of information exchange through which it was possible to extrapolate methods useful for converting data into concrete results. Since then, this concept has evolved, first in the 80s, in convergence with new IT decision-making models, then in its current version: BI today enables the organization to use IT intelligence and digitization to obtain the most useful data, analyze and manage through automated and secure platform.
Business Intelligence Significato
Has initiated the advancement of certain techniques and specific activities aimed at improving business performance. Here is a short description of the most important processes:
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These processes enable the transformation of data into insights; H. critical insights for easier business decision-making, elimination of inefficiencies, adaptation to the market and thoughtful and agile change management. A set of data and calculation functions that allow the analysis, collection and processing of business intelligence is an added value for all business processes: an all-encompassing view of the business system enables the teams working there to make better and more immediate decisions every day.
, we said, are the result of an ever faster digital transformation: through these platforms it is possible not only to access data, but to analyze, share, manage and initiate interactive activities. In addition, BI platforms are dynamic tools that allow you to collect data from a wide variety of sources: you can import and process data from local files or external databases, from videos, from survey responses, from emails and many others. Each user can also customize the platform according to their wishes, leaving room for creativity and sense: in fact, it is possible to invent unique models of data visualization, create original dashboards and create data indicators to compare with metrics.
These platforms are extremely useful and technologically advanced tools that have made it possible to simplify and speed up analysis processes. With the ability to collect data in flexible visual schemas, it can be easily accessed by non-techies or data experts without feeling overwhelmed or confused.
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There is a variety of business intelligence software on the market, some commercial and some open source, each with different user experiences and specifics. Essentially, however, these platforms respond to the same needs by presenting common features to all: dynamic dashboards, intuitive and agile analytics visualization, performance monitoring against KPIs, report scheduling with security specifications, NLP to identify video insights. Images and social media, data mining skills. In fact, BI software – platforms are actually nothing more than software applications – are used to perform the same activities, namely:
These activities allow companies to study customer behavior, compare with competitors, identify market trends, monitor their performance to optimize operations, identify business areas to increase profitability, identify inefficiencies and problems and solve them immediately. It is clear, then, that the adoption of a business intelligence policy means more effective management of the entire organization, i.e. its data, resources and operations, thereby creating a strong positive impact on profitability.
With the constant circulation of huge amounts of data and information, which the digital revolution helps to significantly increase, business intelligence has facilitated the interpretation and analysis of this big data: companies can thus get the most value from investments in this sense. . The exploitation of big data has thus become a task that is accessible to everyone and leads organizations to a corporate culture. Business intelligence is a tool that today is often unconsciously an integral part of almost every business activity.
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Indeed, given the proliferation of big data, it is imperative to know how to collect it and use it to your advantage to positively impact business.
Business intelligence or BI is the set of all tools and processes that are useful for collecting, analyzing and exploiting data. So it includes business analysis, data visualization, data mining, infrastructure and best practices useful for achieving results.
The goal is to extract useful information from the data for delineating conscious business strategies that can improve the performance of the activity and direct it to growth. In fact, it should be noted that big data is now a ubiquitous resource in our society and in the world of work: it has become increasingly widespread in recent years and represents an invaluable asset. Suffice it to say that they are now considered the new oil of our time.
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That’s why it’s important to know how to use them, and with the right techniques, even seemingly meaningless data can suggest effective action plans. With business intelligence, for example, it is possible to understand which resources should be invested in, which decisions do not bring real profit to the company, or which proposals may prove useful for the future.
To understand how business intelligence techniques work, it is helpful to think of the process as divided into three main stages.
Using data, business intelligence helps companies map out strategies based on concrete information and real perspectives that come from accurate and efficient analysis.
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In fact, by studying past data and performance, it is possible to understand what factors have affected the business and how, in turn, to understand how to organize for the future in order to reduce failure and risk.
Business intelligence also makes it easier to discover market trends, make useful comparisons with competitors, analyze customer behavior and identify opportunities to increase profits.
A big advantage is that the use of business intelligence platforms does not require a technical team of experts: even people without industry knowledge can easily access the tools, relying on simple dashboards that offer intuitive graphs and diagrams.
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Incorporating business intelligence into your business therefore means reviewing your decision-making processes and making them data-driven, relying on:
Business intelligence collects and analyzes big data, unifies it and selects only those that are actually useful for the company’s goals.
There are many industries where business intelligence can be successfully applied and demonstrate the many benefits it can bring in practice.
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In the financial sector, for example, it is easier to see which clients should be offered a change of investment and which services and trends are being demonstrated by individual sectors in the area.
In logistics, we can improve the internal organization by analyzing transport routes with cost data, and in sales, we can predict market trends by changing the pricing policy.
In customer management, on the other hand, it is possible to find a favorable relationship between the services offered and the value of the individual customer, while in the personnel field, meaningful reporting is possible taking into account the hours worked, the number of employees and salaries.
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These are just a few real-life examples, but BI is also very important in areas such as healthcare, education, information, industry and food.
Business intelligence and data science are two techniques that analyze data to generate useful reports for businesses, and therefore seem synonymous.
In reality, both processes are very similar, but they are not the same and can be considered as two different sides of the same coin.
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In fact, data science analyzes data and past events to understand what may happen in the future and examines probabilities and outcomes to solve specific business problems.
On the other hand, BI focuses on past and present and provides data, graphs and diagrams that are useful to understand the current situation and have a complete insight into the state of the business.
So, data science takes on a very specific purpose and examines data in search of answers to predetermined questions. In contrast, BI has a wider range of operations and remains generic in analysis, resulting in reports whose relevance is only discovered later.
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Business intelligence also includes disciplines such as data analytics and business analytics to identify relationships between data and generate fruitful conclusions.
Business intelligence is constantly evolving and innovating to meet new technologies and changing business needs.
In particular, BI will aim to increasingly integrate artificial intelligence and machine learning techniques so that users can rely on these resources to make their strategies even more effective.
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Greater importance is also placed on security, which is an important topic when it comes to data, especially with regard to data protection laws and regulations related to GDPR.
We will also try to move towards predictive analytics to understand future probabilities and we will try
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