MicroStrategy is launching a new portfolio of services, MicroStrategy AI, that combines the power of business intelligence and generative artificial intelligence. The service suite, which was launched in early October, will be the theme of the event that the tech giant is organising in Warsaw, called AI/BI Symposium, on 22-23 November.
Taking business intelligence to the next level
The role of business intelligence is becoming increasingly important in the life of companies. It's an umbrella term that encompasses practices, tools and applications that enable the analysis of data for business purposes. This information supports strategic decision-making, ultimately driving the company towards success.
Four key steps form the basis of business intelligence, the first is data collection (e.g. data mining), the second is business analytics, the third is data visualisation and the fourth is decision-making based on the previous three. Technology also enables predictive analytics, i.e. the ability to forecast the evolution of data and trends. This can be a huge advantage over competitors.
Thanks to business intelligence, these processes, or at least part of them, can be self-service and automated. This can save companies significant amounts of time and money.
BI also improves efficiency and productivity. Organising and analysing data helps to optimise business processes, and automated reports can save staff time. It also enables the efficient use of data warehouses and big data.
Business intelligence also helps you gain a competitive advantage. Companies that can react faster and more accurately to market changes perform better, identify trends and business opportunities more easily. In addition, it increases customer satisfaction by enabling companies to better understand their customers' needs and behaviours, so they can offer more personalised offers and services.
MicroStrategy is also a business intelligence tool that brings together business intelligence, analytics, mobile and cloud technology on one platform. It provides a platform for companies to get the most out of their data and significantly accelerate business processes.
When BI and AI meet
The most powerful analytics platform now comes with a new portfolio. On the 3rd of October, the company announced the launch of MicroStrategy AI, which enables users to use generative artificial intelligence to manage data without code, create automated dashboards and translate from text to code. The new software suite includes natural language processing (NLP) capabilities, which significantly expands the possibilities.
In the hype around ChatGPT, most providers have already announced that they are considering large language models. These are machine learning models that use deep learning algorithms to process and understand natural language. MicroStrategy has so far been on the sidelines, but now seems to have got ahead of the curve by being the first to make available a portfolio that also relies on generative AI capabilities.
Thanks to new technologies, users can interact in real natural language. Thanks to generative AI, text commands can automatically generate code that computers can process and execute. Self-service analytics is provided by Auto Answers, and Auto SQL allows developers and engineers to query data and create tables in natural language. New features include Auto Dashboard to automate parts of dashboard development and Auto Expert chatbot to help users navigate the MicroStrategy platform.
Why be there in Warsaw?
A suite of services based on generative artificial intelligence will be the theme of MicroStrategy's event in Warsaw, which will take place from 22-23 November. The AI/BI Symposium is open to all professionals from the region who want to stay up-to-date and get first-hand information on new technology solutions.
Trends, practical examples, user experiences, case studies and reports from analytics professionals are expected. And on the first day of the event, there will also be the opportunity to participate in workshops, training sessions and obtain MicroStrategy certification.
Registration for the event is now open!
