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Column 10:45 02 Mar 2021

Business Intelligence: without BI, business is no longer a business

In today's highly competitive business environment, obtaining the necessary data in a short time and in the most convenient form is an essential parameter. This is what allows you to quickly navigate changes and make excellent decisions. Here, Business Intelligence (BI) helps. What systems are like that and what are their peculiarities, we'll analyze with specific examples.

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Simply about complicated

In a simplified version, the principle of operation of a BI system can be explained as follows: a data source is connected to the system, information enters a single repository where it's processed. The result of this entire process is ready-made reports.

Let's look at the key tasks that BI systems solve. In particular, these include:

  • collection of data from various sources, structuring, storage;
  • analysis of significant amounts of information;
  • modeling possible solutions to assess their impact on the final indicators;
  • formation of operational and strategic reporting;
  • preservation and systematization of data.

In other words, Business Intelligence is a tool that helps companies make optimal decisions based on numerous different indicators.

This publication is available in Ukrainian and Russian. The English translation hasn’t been produced yet. Support us to make the translation faster - follow the link for instructions

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