Understanding Business Intelligence


Business Intelligence is the broad set of tools, applications and techniques that provide organizations the visibility into complete business operations. It gathers data from internal as well as external sources, performs the analysis by running queries and then present the reports, spread sheets, visualisations, dashboards for the for the decision makers as well as functional people.

The main purpose of the business intelligence is to provide support for the Data-Driven Business Decision Making. It is also referred to as Decision Support Systems (DSS). It includes technologies and applications like Data Warehouses, Executing Information Systems and Online Analytical Processing (OLAP).

Bringing together all the data from the heterogeneous sources and integrating and creating a Data Warehouse it is called Data-warehousing. It is the core of an organization’s business intelligence system and is facilitated by the ETL tools.

The functions of data Warehousing tools and utilities are

  • Data Extraction
  • Data Cleaning
  • Data Transformation
  • Data Refreshing

Data visualization is presenting or reporting the information in a visually appealing method which helps understand the necessary details from the data in a better, faster and absorbing way. It involves selecting the most relevant and most appropriate infographics/chart/graph/reporting style for the management and executive dashboards keeping in mind the nature of the data, report to be made and the audience. More the dashboards are appealing and communicative, better the information sharing.

Business Intelligence is an approach which is similar to a rear-view. It answers the questions like

  • What Happened?
  • When did it happen?
  • Who made it happen?
  • How and When did it happen?

Based on these questions, the organisation work to derive answers and further do the analytical study part.

Benefits of Business Intelligence:

  • Management Processes are enhanced.
  • Business operations processes are also enhanced.
  • Planning, controlling, measuring and/or applying changes that results in increased revenues and reduced costs.
  • Intelligent prediction of future.
  • It empowers the organization with
    • Quick and efficient process requests
    • Quick response to any change in organization
    • Efficient Information sharing
    • Improvise reporting system
    • Delivery of relevant information to both local and remote personnel

Data Warehousing and BI is one of the very important modules in the entire course of Data Science. There is lot of demand for the people in this field as the amount of data has been increased hugely. More and more Big Data technologies are being adopted by the various companies and hence knowledge of BI tools and concept of data warehousing are imperative to work with Big Data.

Bicard offers in-depth Data warehousing and BI course for the experienced professionals as well as fresh graduates. It is Also an integral part of 6 months PG Diploma programme in Big Data Analytics & Machine Learning.

References:

http://searchdatamanagement.techtarget.com/definition/business-intelligence

 

http://www.cio.com/article/2439504/business-intelligence/business-intelligence-definition-and-solutions.html

 

http://olap.com/learn-bi-olap/olap-bi-definitions/business-intelligence/