Tuesday 28 November 2023

Benefits of business intelligence

Let's learn the history of intelligent business to understand how it can help us make the best decisions for our business:

The term “ business intelligence ” was first used in 1865 by author Richard Millar Devens, when he cited a banker who gathered market information before his 7starhd competitors. In 1958, an IBM computer scientist named Hans Peter Luhn explored the potential of using technology to gather business intelligence.

In the 1960s and 1970s, the first data management systems and decision support systems (DSS) were developed to store and organize the growing volumes of information.

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In the 1990s, BI became increasingly popular, but the technology was still complex. It was difficult to use, required a lot of specialization and was very unintuitive.

Given this, the challenge arises of designing faster and much easier-to-use business intelligence solutions   so that all company personnel have access to these tools and are able to manage and analyze all their information in a secure and advanced way.

Currently,   the basis of the Business Intelligence concept is the transformation of raw data into meaningful and useful information, with the aim of managing a company efficiently, with the help of a set of techniques and tools.
 
Managing a company efficiently means making the best decisions. Business intelligence depends not only on the ability and knowledge of the entrepreneur, but also on technological support , such as management solutions.

Microsoft Power BI is the business intelligence tool that helps collect, manage and analyze data from a variety of sources, through a simple and intuitive interface. Power Bi gathers all the data and processes it, transforming it into understandable information through visually intelligible and easy-to-process graphs and tables.

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It has intuitive dashboards that allow you to have updated information in real time. This information can be consulted anywhere and at any time.

It offers predictive analysis to make better business decisions , allowing users to extract useful information.

The most important thing is that the information can be shared quickly with all departments of the company. This tool provides a 360° view of the company and the data is obtained from different sources.