Business Intelligence is currently on trend in Sg. It is literally rocking the digital world because of the tools and systems it gives to all businesses to transform and convert raw information or data for decision-making purposes that eventually beneficial to all entities.
What is Business Intelligence?
We have defined Business Analytics before and for your information, Business Intelligence or BI is often compared to BA due to common goals and objectives. But what is this Business once and for all? Remember that Philippines is one of the countries that have the best economy and it is due to businesses here.
BI is indispensable here in the Philippines. Whether you like it or not, all companies must practice this and master it if necessary because it will help all operations and management to succeed in many aspects.
Technically speaking, BI has set of rules, techniques, strategies, principles, and methods or tools, to convert or transform raw information for business analysis. Okay, we reiterate that BI is a set of techniques to help business analysts to study all information for business success. What are those tools? We will find it out!
Business Intelligence Tools
DOMO is the best BI tools today due to its powerful features and of course usability experience.
As you would see in the screenshots, a tough task like business analysis will be easy because of this BI tools like DOMO. We are very proud that we are the pioneer of DOMO here in Philippines and definitely the best solution for businesses here in Philippines!
DOMO is a business management suite that combines all data sources from spreadsheets, database, social media, and other cloud-based software solutions. DOMO is 100% cloud-based thus it is very easy to use on the go!
What are the other tools?
There are many types of tools that can be used. We have spreadsheets, querying software, OLAP, digital dashboards, data mining, process visualization, data warehousing, local information systems. But the question is how do BI works using these tools?
These are the interactive application like Microsft Excel, Google Sheets, that are used for organizational, analysis, storage of data in tabular form.
Querying Software is used to generate reports that are human readable and easy to understand from different sources.
OLAP or Online Analytical Processing is often used for data discovery for report viewing, complex analytical calculations, and predictive planning.
Digital Dashboards are electronic interfaces used to consolidate data that provides in-depth business analysis.
Data Mining is a computational process of discovering patterns in large data.
Process Visualization is a graphical utility that enables process administrators to visualize all process in a business.
Data Warehousing used for reporting and data analysis. It is a core component of BI.
Local Information Systems
Local Information Systems is designed primarily for geographical reporting.
BI as what we have cited is a partner and crime of Business analysis. We can never perform any analysis without the intelligence from the tools we have mentioned above. Whatever the tools you have, the bottom line is to make all data available and ready for analysis for the benefits of any business or company.
Business Intelligence is the most important and exciting part in a businesses and companies because it equates with tools and techniques. If you fail to choose the best Business Intelligence tools, it will affect the entire business operation performance.