Business Intelligence software is becoming ever so increasingly important within business, the need to create efficient approaches that leverage IT to create innovation, drive the creation and growth of sustainable business value is crucial. Mert explains BI in more detail and answers some of your most frequently asked questions…
What is business intelligence?
Business Intelligence (BI) refers to the technology-rich process involved in analysing data and gaining actionable insight that aids executives, marketers, and others in making better, more informed business decisions.
Which types of businesses are most likely to utilise Business Intelligence?
Previously only prosperous companies where the ones able to afford BI tools, within the last 5-6 years that has drastically changed. As BI software’s have advanced over the years companies are now starting to realise the benefits of using BI. Now we see a trend; companies of all sizes and industries (finance, health care, consumer products, marketing, finance, real estate, tourism and more) have a need for BI and mostly for the purpose of understanding their market and/or product better, measuring KPIs, and monitoring real-time order and efficiency. Companies that want to make correct decisions moving forward will have some form of BI software.
Why are businesses investing in BI?
As mentioned previously companies are now starting to realise the impacts of using correct BI software and how this could positively effect their business. BI is unique in the sense that it may include historical information and new data, which enables organizations to make strategic and tactical decisions. Specific benefits of Business Intelligence include faster and improved decision making processes, optimized business processes, increased operational efficiency, and new revenue. Companies that use BI effectively also identify market trends and business issues that need to be corrected.
What are the advantages using of BI?
Business Intelligence is key for gaining competitive advantage. As more businesses recognize that companies need to be analytics-driven in order to be competitive , it is becoming more popular. It isn’t surprising that Gartner predicts that “business analytics will further reach almost all of potential users after 2020 as we enter the realms of the Internet of Everything.” BI delivers critical analytical insight and predictive analysis that aids in faster decision making and yields a competitive advantage.
Which types of Business Intelligence software are available?
The key general categories of business intelligence tools are:
The main tools used in Belgium are; Microsoft BI, Business Objects ( SAP BO ), Informatica, IBM Datastage, IBM Cognos, IBM Netezza, Qlikview, Microstrategy, SAS BI, SAP BI, Microsoft SSIS, Ab Initio, Teradata, Sybase IQ
Which job roles are you finding businesses are needing to analyse data outcomes for BI?
It really depends on the project in question;
If it’s a reporting role: cognos, qlikview & SAP BO developers are popular choices in Belgium
If its more data warehouse based roles Datastage, Informatica & Microsoft SSIS are high in demand with multiple global companies.