Benefits of Business Intelligence ( BI ) :
A successful BI program can bring many business benefits to an organization. For example, BI enables executives and department heads to continuously monitor performance so they can respond quickly when problems or opportunities arise. Analyzing customer data makes your marketing, sales, and customer service efforts more effective. Supply chain, manufacturing, and distribution bottlenecks can be identified before financial damage occurs. HR managers can better monitor employee productivity, labor costs, and other employee data. Overall, some of the key benefits companies can derive from BI applications include:
- Accelerate and improve decision making.
- Optimize your internal business processes.
- Improved operational efficiency and productivity.
- Identify business problems that need to be addressed.
- Identify emerging business and market trends.
- Develop a stronger business strategy.
- Achieve higher sales and new revenue.
- When Gain a competitive advantage over your competitors.
BI initiatives also offer more limited business benefits. Above all, it makes it easier for project managers to track the status of their projects and organizations to gather competitive information about their competitors. Additionally, BI, data management, and IT teams themselves benefit from business intelligence by using it to analyze various aspects of their technology and analytical operations.
How does the commercial enterprise intelligence system work?
A commercial enterprise intelligence structure consists of extra than simply BI software. Business intelligence information is normally saved in an information warehouse constructed for a whole employer or in smaller information marts that keep subsets of commercial enterprise facts for person departments and commercial enterprise units, frequently with ties to a company information warehouse. In addition, information lakes primarily based totally on Hadoop clusters or different huge information structures are increasingly used as repositories or touchdown pads for BI and analytics information, mainly for log files, sensor information, textual content and different varieties of unstructured or semistructured information.
BI information can encompass historic facts and real-time information accumulated from supply structures as it is generated, permitting BI equipment to assist each strategic and tactical decision-making process. Before it is utilized in BI applications, uncooked information from distinctive supply structures commonly have to be integrated, consolidated and cleansed the usage of information integration and information high-satisfactory control equipment to make sure that BI groups and commercial enterprise customers are reading correct and regular facts.
