Top Ways Business Intelligence Is Conquering The Market
by Christian Ofori-Boateng on Jul 13, 2018 8:30:00 AM
The world may be shrinking, but data continues to grow. Traditional approaches to data management and reporting simply cannot handle the sheer volume of data businesses generate and collect. Businesses need smarter solutions to handle both interior data management concerns and consumer-related collection. This is why Business Intelligence has risen to dominate the market.
BI is Data’s Soul Mate
Data management had nowhere near the impact a few decades ago that it does today, and it looks like its role will only grow in the near future. BI uses technology to solve one of the biggest flaws in today’s business world, unorganized data. It’s possible to do what BI is manually, but it would, and has, taken endless labor hours to accomplish. Unlike previous data management solutions, Business Intelligence can keep up with new data as it’s generated. It doesn’t have a human’s delay, and it creates far fewer errors.
BI goes beyond basic data management, however. Business Intelligence software can visualize data, run queries, and generate reports. It bridges the gap between a helpful tool and a progressive aid. BI allows businesses to handle and review Big Data, often giving them a peek into the future. BI helps decision makers predict consumer shopping trends before the competition. Turned inward, BI can help businesses analyze their own weaknesses and shortcomings in order to maximize profit.
BI continues to evolve. The Self-service software has made it accessible to any employee, regardless of skill level, to utilize. This development, in particular, has helped decision makers create rapid strategies and respond to opportunities and threats alike. While a unified BI platform provides the most solutions, many businesses have adopted separate BI programs to handle querying, location intelligence, or online analytical processing. BI solutions are uniquely adaptable, and with their great scalability, they fit essentially any problem.
Borderless Enterprise Demands a Different Approach
Even businesses that haven’t exactly gone “borderless” still need multiple data sets to compose even basic reports. As software developed, different programmers and their products have developed specialties. These streamlined products allow businesses to complete specific tasks more efficiently, but this means businesses generate different data sets in a slew of various programs. Today, businesses need far more than an operating system and a basic POS system. Most businesses run their own bookkeeping software, multiple web and/or mobile applications, keep some traditional text files, and also use several industry-specific programs to manage things like shipping, merchandise, customer information, etc.
Understandably, data management has grown increasingly complex. Vital data sites scattered across the many systems and programs a business must use in daily operations. Business Intelligence software answers this increased demand for an organization. Businesses don’t just need data mining and analysis. They need solutions that can handle every step of transforming raw data into actionable information.
The business world moves quickly, and competition doesn’t wait for a fair turn. BI translates the vast world of data created by modern businesses and consumers into the clear information that businesses need in order to stay a step ahead. It dominates the market because it has no comparable rival.