What is business intelligence?

BI comprises a variety of tools, applications and methods that enable users in companies to make better decisions based on their data.

Current and historical data is analyzed and the results are presented in easy-to-understand reports, dashboards, and charts. BI can also be used as”descriptive analysis“be called. This is the presentation of a company in the present and in the past.

Benefits of Business Intelligence

In many organizations, data is still often evaluated manually. Tools such as Excel or PowerPoint are used to create recurring reports and reports. This procedure is not only time-consuming, but also very error-prone and avoidable. For successful data work, we recommend using BI tools.

Difference between BI and data analytics

Business intelligence, business analytics and Data Analytics are elementary components of data work in companies. However, they differ in that business intelligence refers to both the past and the present (descriptive analysis). The focus of business analytics, on the other hand, is more in between. So WHY something happened (diagnostic analysis), what could happen next (predictive analysis) and what measures should be taken to achieve the best possible result (prescriptive analysis).

Both BI and business analytics are critical—they work together to provide companies with different types of analytics:

descriptive

diagnostic

predictive

prescriptive

Data analytics is seen more as an overarching term that focuses on gaining insights, regardless of the scope of application.

Business intelligence in the company

Business intelligence is not a goal in itself, but sees itself as an essential part of a data strategy and thus forms the basis for successful data work in a company. To do so, you should be able to answer the following questions:

Who are the main responsible parties?

Which departments need BI and which key figures should be determined?

What support do end users need?

Which technology is suitable?

Can we implement a BI project or is it too complex?

Our BI experts will assist you with all questions relating to BI. Together with you, we develop a future-oriented strategy, find the appropriate tools/technologies and empower all employees. We work with proven concepts and leading BI providers such as Qlik, Microsoft and Tableau.