Business Intelligence Write for Us
Business Intelligence Write for Us – Business Intelligence combine business analytics, data visualization, data mining, data tools and infrastructure , as well as best practices to enable organizations to make more data-driven decisions. For several years now, the “new era” of Business Intelligence, in addition to providing the more traditional Business Intelligence tools, also integrates self-service business intelligence, predictive analytics and machine learning.
This is the definition it has taken on in recent years. But the term is much older. It must even go back to 1865, when Richard Devens presented it in the “ Cyclopædia of Commercial and Business Anecdotes ”, using this term to describe how the banker Sir Henry Furnese profited from information, collecting and using it before his competitors. In 1958 he appears in an article written by Hans Peter Luhn, IBM scientist and computer scientist, to describe the potential of BI obtainable through the use of technology.
The concept has evolved over time, reaching the 1960s, when translating data into usable information was only the prerogative of people with extremely specialized skills. Not only that: at that time, data from multiple sources was usually stored in silos, and research was presented in fragmented and disjointed reports. It was in the 1980s that it developed further along with computer models for decision making and transforming data into insights before becoming a specific offering for BI teams with IT-dependent service solutions.
The number of dedicated vendors has grown over the years in direct proportion to the discovery, by the business world, of the discovery of the value of BI and we have witnessed the development of assorted and dedicated tools.
The Applications of Business Intelligence
There are infinite sectors and companies that today make use of Business Intelligence. To understand why, it is necessary to highlight its possible applications.
Business Intelligence for customer relations
A key application is that which concerns the relationship with the customer . Negotiating with the customer is a crucial skill for the sales departments of any organization. Sometimes it can be difficult to get potential customers to buy your product or service. Through business intelligence tools, business analytics and intelligence applications, this process allows it to be much more fluid and predictable.
Business Intelligence for planning
There is another benefit to applying BI: in the business world, staying one step ahead of your competitors is vital. The data collected by dedicated systems help managers stay informed about where their business is in relation to different KPIs, so that they are never caught off guard. Planning is one of the utmost important steps to staying on top of the market in any industry, and business intelligence tools make it really simple and effective.
Another application is about visualization . Business intelligence tools use data science tools, such as data analytics, designed to analyze and manage data related to business operations. Presented in the form of views , they allow the organization to monitor logistics, sales, productivity and much more, increasingly through self-service business intelligence, predictive analytics and machine learning.
Reporting, fundamental application of Business Intelligence
A fundamental commercial application of Business Intelligence is reporting . BI tools collect and study unstructured datasets, as well as organize and use them to generate a variety of different types of reports. These can include personnel, expenses, sales, customer service, and other processes.
Finally, thanks to Business Intelligence, organizations can track the progress of goals based on predefined or customizable deadlines.
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