There can be several reasons behind the introduction of a BI system, but most of the time, businesses opt for this innovation to optimize the internal and external processes based on the data collected. Business intelligence can significantly increase a company's efficiency, help gain a competitive edge, make data available, and support decision-making through analysis. What is a BI system, and why is it worth investing in for companies?
What is a BI system?
A business intelligence (BI) system refers to a comprehensive and integrated set of tools, technologies, and processes that enable organizations to collect, analyse, and interpret large amounts of data to support strategic decision-making and achieve business objectives. It includes data collection, storage, and processing from various sources, such as internal databases, external sources, and third-party data providers.
With a BI system, reports, dashboards, and visualizations can be created to turn data into information. This information can be used by a company to gain a deeper understanding of operational processes, the environment, the market, and customer behaviour. Advanced analysis techniques, such as data mining, data visualization, and predictive modelling, enable organizations to make data-driven decisions, optimize performance, identify opportunities, and mitigate risks.
BI systems are widely used across various industries and business segments, such as finance, marketing, sales, supply chain management, and human resources. It plays a crucial role in enabling a company to be flexible and proactive in the present and future. These abilities are essential for a modern company to remain competitive.
While BI systems were previously used by data analysts and people with in-depth knowledge of information technology, these technologies are now available to anyone. BI systems and software have a user-friendly interface and intuitive navigation, making them accessible to anyone, regardless of technical expertise.
Application Areas of BI System
Business intelligence and a system built on it can be applied in various areas. It can be used for reporting, dashboard creation, and defining KPIs. It can be effectively used to prepare statistics, examine business results, and improve processes. It can also be utilized for predictive analytics and data modelling to make informed decisions.
In conclusion, a BI system can help businesses make informed decisions, gain a competitive edge, and achieve their goals. With its wide range of applications and user-friendly interface, it is worth investing in a BI system to optimize internal and external processes and remain competitive in the market.
What solutions does BIXPERT offer to help?
BIXPERT offers cutting-edge BI solutions to its clients. With professional tools and expertise, partners will be able to make the most out of their data.
- MicroStrategy is a comprehensive enterprise business intelligence solution that is easy to use, scalable, and extremely secure.
- Jedox provides a foundation for business decisions, including features such as planning, analysis, reporting, and dashboards.
- Visual Crossing is an intuitive and scalable solution for business users, allowing for the creation of maps that enhance the effectiveness of business analysis.
- Exasol is a memory-based database, an extremely efficient RDBMS platform.
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