Business intelligence is a technology-driven process. The main work of this thing is analyzing the data and, after that, delivering all the actionable information. This process usually helps the executives, managers, and workers make good and informed business decisions. In the first part of the business intelligence process, all the organizations usually collect data from any internal data analytics or insights of the IT systems and other external sources available to them.
Hereafter that, they prepare this data for the file analysis process. After this process, they usually find and run a lot of queries that are present against the data. In this process, they also create data visualizations, all types of business intelligence dashboards, and reports to make the analytics results easily available to business users. They often use this data for operational decision-making as well as well strategic planning.
What is the goal of this process?
Here the ultimate goal of this business intelligence initiative is to get or take better business decisions that will be fruitful for the company. Here in this process, they also help the business organizations to increase their income or revenue. Here they also try to improve their operational efficiency, thereby using it to gain competitive advantages over all of the people who are their rivals in the business world. To achieve this goal, the business intelligence group generally integrates a good combination of analytics, data enrichment companies, data management, and all the reporting tools. Here they also try to find various possible methodologies that they can use to manage and then analyze all the data they have.
How do this business intelligence process work
Here it is a fact that a business intelligence architecture generally needs much more than just software. Here all the Business intelligence data is generally stored in a data warehouse. These are usually built for an entire organization. Here they can also be built for all the other smaller data marts that hold the subsets of big business organizations that hold the whole business or the individual departments or any business units. In this step, the data classification process is often used.
Here a big company usually has ties or has done deals with an enterprise data warehouse. In addition to that, they also store data on the data lakes, which are based on Hadoop clusters or other big data systems. Nowadays, these systems are increasingly used as repositories or landing pads for any business intelligence and analytics data. This process is especially used for log files, sensor data, text, and all the other unstructured and semistructured data types.
Importance of business intelligence data
Here the business intelligence data generally includes all the historical information and all types of real-time data that are generally gathered or collected from any source system. These are often generated on their own. This helps the business intelligence tools to support both strategic and all the tactical decision-making processes, which will be helpful for a company. Before they are used in any form, all the raw data collected from all the different source systems should always be integrated, consolidated, and then thoroughly cleansed by using all types of data integration and data quality management tools that are available nowadays. These are usually done to ensure that all the BI teams and business users using it are analyzing accurate and thereby consistent information.
All the steps that are involved in the BI process
Data preparation- in this step, the data sets are generally organized and then modeled for the analysis.
The analytical querying of a data
Here is the distribution of all the key performance indicators (KPIs) and all the other types of findings related to the business users.
The use of this information to help a person or a company to influence and drive business decisions.
Before, it was seen that the business intelligence tools were primarily used by all the IT professionals who ran queries for the companies. Here they produced dashboards and specific reports for all the different types of business users. Nowadays there it has been seen that their is change in this trend. Nowadays, all the business analysts, executives, and workers are using these business intelligence platforms themselves.
This has been made possible by developing all the self-service business intelligence and all the data discovery tools.
It is being seen nowadays that all the Self-service business intelligence environments are helping all the business users query their data, create data visualizations. Then it also helps them design dashboards of their company on their own. This process uses all other forms of advanced analytics like data mining, predictive analytics, text mining, etc. It has also been seen in many cases nowadays. However, they have different types of advanced business intelligence projects and software, separate teams of data scientists are doing them, statisticians, etc., to get the perfect picture of a company’s situation.