Application of Business Intelligence that is very important for the continuity of your Business Intelligence in the Company. Therefore, you need to know the meaning and usage first.
Business intelligence defines the concept and methodology for improving the quality of business decision-making based on data-driven systems.
This raw data is processed into informational data through an analysis process based on the relationship between one data and another to find out which data is important. Then, how to use business intelligence in the company?
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What is Application of Business Intelligence?
So Business Intelligence is a process that uses technological capabilities to analyze data and provide important information to decision makers such as senior managers, managers and people who need business decisions.
As part of this BI process, the organization will collect data from internal and external IT, then analyze the data, then visualize the data in a dashboard system.
5 Application of Business Intelligence in the Company
Business Intelligence (BI) is a tool that is very important for the continuity of your business. Therefore, you need to know the meaning and application of business intelligence first.
Business intelligence defines the concept and methodology for improving the quality of business decision-making based on data-driven systems.
This raw data is processed into informational data through an analysis process based on the relationship between one data and another to find out which data is important. Then, how the application of business intelligence in the company?
1. Measurements
Measure and quantify business performance
First, there is measurement implementation that creates a series of performance metrics and benchmarks to inform business owners about the direction of business or company goals.
This can make it easier for management to understand market needs and focus from a business perspective.
For this, business owners or managers can also choose a way that suits the company’s business in its use.
2. Analysis
Analyze and make decisions in business
This second program creates a quantitative business process to achieve better decisions in doing business with knowledge discovery. This includes data mining, statistical analysis, predictive analytics, forecasting, and business process modeling.
The analysis itself is useful for analyzing constraints, benefits, solutions, and assisting companies in determining cost planning.
3. Business Report
Collect and report results of company performance analysis
Business reporting builds the strategic infrastructure for business reporting in fulfilling strategic business management and not performance reporting.
This program involves data visualization, information systems, and Online Analytical Processing (OLAP).
In addition, business reporting is also important in reading and interpreting data to help determine the company’s business decisions.
This BI software collects information about market conditions and processes it into useful data for the company.
4. Collaboration Platforms
Use and access data from anywhere then, there is what is called a collaborative platform. This software makes different scopes, inside and outside the business, collaborative through Electronic Data Interchange (EDI).
Collaborative systems can improve cost efficiency because they speed up business policy makers in their work and make it easier to use.
The time needed to get data from inside and outside the company is getting shorter and the way to get it does not require special skills.
5. Knowledge Management
Know what data is coming Knowledge Management drives business data through strategies and practices to identify, create, display, distribute and facilitate the transfer of knowledge and experience using business knowledge.
Through the use of this single business intelligence, companies will gain more insight into structured data for long-term decision making.
The presence of business intelligence is very important in the company. A business intelligence officer is responsible for organizing, managing data, and providing end results in the form of information to all stakeholders in a business or enterprise.
Business intelligence can help companies make better management decisions based on current or historical data in the context of their business.
An analyst can use business intelligence to provide competitive performance and benchmarks to make a company run better and more efficiently. Analysts can also see market trends more easily to increase a company’s sales or earnings.
The following are some of the responsibilities of business intelligence for companies:
- Identify ways to increase profits
- Analyzing user behavior
- Compare data with competitors
- Monitor performance or monitor performance
- Improving the company’s operational processes
- Predicting the success of the company
- See market trends
- Look for issues or problems
Based on this, you can imagine how great the benefits of business intelligence are for companies and businesses.
The success and success of a business is mostly influenced by consumer behavior, market trends, competitors and current issues or problems in society.
Therefore, if a company or a businessman can use and process the available data so that it becomes very useful information, then the company or businessman will find it easier to find opportunities and maintain their success and success.
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