Business Intelligence

Business intelligence (BI) is a process of analyzing data and presenting it as an actionable information to help executive and other enterprise users make informed business decisions. BI incorporates applications, methodologies and tools to enable organizations collect data from different sources and order it in logical patterns. The data is then ready to be used by analytics software which can create reports, run queries to answer specific questions and visualize the data in dashboards to make it clearer to business users and enable them find data correlations and discover insights which would otherwise go unseen.

Dashboard metrics, BI graphs and reports displayed on a smartphone

BI tools

B EYE main Business Intelligence tool is the Qlik platform, which delivers knowledge to our customers that could become a competitive advantage. Each business decision maker from all company departments can make their own research through the enterprise data, using the self-service BI applications anytime. This enables individuals to test their ideas and make discoveries that lead to smart thinking and better decisions.

Main categories of BI tools:

  • Spreadsheets
  • Querying & reporting
  • Online analytical processing(OLAP)
  • Digital dashboards
  • Data mining
  • Data warehouse
  • Data cleansing
  • Business activity monitoring
  • Local information systems

Before a raw data can be used by a BI software it must be stored in data warehouse, then all the data from different sources (data warehouses) must be consolidated, integrated and cleansed. This process ensures that BI analytics applications have access to structured and correct data to process and present as a valuable information on dashboards, reports etc.

Main categories of BI analytics tools:

  • Reporting tools – they generate reports in electronic form related to budgeting and performance management processes.
  • Querying tools– they answer to users’ frequently asked questions and provide analysis of data down to a certain level.
  • Advanced analytics tools– they use sophisticated algorithms to do a deeper data analysis using such approaches as predictive or prescriptive analytics.

The benefits of Business Intelligence

Businesses of any industry can benefit from BI applications in many ways. The main aspect is decision making process improvement, which leads to various optimizations and overall efficiency and effectiveness of the organization. BI users can also gain unprecedented understanding of their industry, company processes and customer behavior, that may open new market opportunities and increase of market share and revenue.

With BI applications your business can have:

  • Faster reporting, analysis and planning
  • More accurate reporting, analysis or planning
  • Better business decisions
  • Improved data quality
  • Improved employee satisfaction
  • Improved operational efficiency
  • Improved customer satisfaction
  • Increased competitive advantage
  • Reduced costs
  • Increased revenues
  • Saved headcount