We’ve all heard about Artificial Intelligence as well as the machine learning applications and the ways they can benefit companies. Business Intelligence is not as widely discussed but definitely should be. BI solutions are more accessible and easy to manage by amateurs in data science than AI applications. But what exactly Business Intelligence tools can do for our company?
What is Business Intelligence?
Business Intelligence tools allow you to access analyzed data. Due to that, you are provided with simplified information about your company in various approachable forms. The most popular are dashboards and visualizations, but information can be also provided (among others) in the form of reports, graphs, and charts. By that, we can discover trends and derive insights which can help us make important decisions for our company.
What is important is that BI tools can obtain the information instantly and show it to us in-real-time but simplified. That is what makes the difference between Business Intelligence and business analytics. The first one informs us of the state our company is in right now, how it performs on the market and how it turned out this way. While the second one shows what could happen to our company in the future and what we could do due to that to improve our position.
The best facet of the BI solutions is that it can be understood and then managed by a business manager. We do not have to hire a professional on data science to provide certain information into the application and then interpret the results for us. BI tools are intuitive what makes it easy to grasp the essence of any potential problem. As a business manager, we should not have difficulties with coming up with the ideat and then putting them into practice and in result impact positively on the company’s wellbeing. With machine learning applications there is a need for hiring a machine learning expert.
What fields of business can benefit from implementing BI tools?
The answer is simple – every field of business can benefit from Business Intelligence. When there is information there is a need for analysis. The more data your company gathers, the more demand there is for some kind of data science. Of course, purchasing Business Intelligence tools is harder for small enterprises that simply cannot afford it. But there is no doubt about it – BI tools used wisely can help to get your company on another level in the business industry. Learning about how new technologies improve modern companies is the first step to achieving great success.
How to implement BI solutions in our company?
If you are considering the implementation of Business Intelligence, the first thing you should do is to contact a professional in this field. You can order BI tools made by an AI-focused company. The contacted advisor will ask some questions and answer ours to come up with the best BI solution that is going to suit our company’s needs like a glove. For example, you can reach out to Addepto (https://addepto.com/business-intelligence-services/) where you will be provided with more detailed information about BI solutions.