BNMC Blog

Tech Terminology: Business Intelligence

Tech Terminology: Business Intelligence

If you know more about your organization and its customers, you’ll be able to make better decisions about the future of your business. Thanks to an increased focus on business intelligence, even small and medium-sized businesses can take advantage of these analytical tools to improve operations and customer relations. What is business intelligence? How does it work, and why does your business need it?

Defining Business Intelligence
Business intelligence is an approach to organizational management utilizing software solutions and other services to convert your data into actionable intelligence. Some have even compared business intelligence to descriptive analytics. Basically, it allows your business to see what has worked in the past, as well as what could happen in the future and where your business is currently standing. This is often confused with business analytics, but the aim of BI is a bit different. Instead of guessing what is going to happen, it looks at what has already happened to help you make better decisions in the future.

How Can You Get Started with It?
If you’re like most businesses, chances are that information is stored across your organization in multiple databases. You’ll have to get them in order if you want to take advantage of solutions that depend on it. In most cases, this includes rounding up your data and placing it in one location for easy access. You can then link together tables to create a data cube. Data warehouses can also use dynamic links to databases to make changes to data and change the way that it’s represented at a glance. Some databases can’t do this so, they rely on importing databases in other ways.

How Does It Work?
Now that your data warehouse is set up, you can start analyzing the data with multilayer queries. Since all of your databases are now connected, you can easily enter in search queries for any information needed. For example, you can search your inventory, as well as create a list of what’s most popular from your business. It can then cross-reference these two lists to determine how much products sell, and when.

Reports Are Important
Every time you run a query, you will wind up running a report as well. Basically, the report ensures that you actually have information to utilize. Reports are helpful because they help you make educated decisions about where and where not to place products. The interesting idea that BI introduces is that older methods of doing business may not necessarily be viable any longer. While the upfront costs of creating a data warehouse may be considerable, BI can provide such a huge return on investment that the expenses accrued aren’t as damaging.

BNMC can help your business implement business intelligence technology. To learn more, reach out to us at 978-482-2020.

 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Thursday, October 18 2018

Captcha Image

Subscribe to Our Blog!

Mobile? Grab this Article!

Qr Code

Tag Cloud

Security Tip of the Week Technology Best Practices Cloud Email Privacy Malware Hackers Business Computing Software Computer Internet Microsoft Network Security IT Services Hosted Solutions Tech Term Business Google Ransomware Mobile Devices User Tips Android Productivity Backup Efficiency Managed IT Services Smartphone Small Business Internet of Things Cloud Computing Data Management Saving Money Data Recovery Business Continuity Hardware IT Support Browser Windows Innovation Data Backup Cybersecurity Communication App Data Windows 10 Managed IT Services Server Facebook Remote Monitoring Gmail Artificial Intelligence Microsoft Office Encryption Business Management Windows 10 Passwords Tip of the week Chrome Word Managed Service Provider Outsourced IT Phishing Workplace Tips Vulnerability Upgrade Employer-Employee Relationship Analytics Applications communications Office 365 Website Disaster Recovery Infrastructure Network Productivity Money Smartphones IT Support Maintenance Settings Robot Antivirus Save Money Google Drive Content Filtering Bandwidth YouTube Miscellaneous Social Media Risk Management IT Management Office Tips Government BYOD Data storage Big Data Spam Computing Outlook Firewall WiFi Two-factor Authentication Managing Stress Operating System Avoiding Downtime Monitors LiFi Vendor Management Hosted Solution Information Scam Administration Automation Users Mouse Wireless End of Support HIPAA Virtual Reality Apple VPN Mobile Security Mobile Device Data Security Paperless Office Storage Server Management Business Technology SaaS Touchscreen Business Intelligence Virtual Private Network Laptop Holiday The Internet of Things Unified Threat Management Data loss Telephone Systems Alert Company Culture Display desktop VoIP Cybercrime Augmented Reality K-12 Schools Disaster Bluetooth Comparison Downtime Cookies MSP Digital Alt Codes Managed Service Firefox Superfish Customer Service Collaboration LED Office Samsung Marketing Social Networking Bring Your Own Device Address Permissions Computing Infrastructure Professional Services PowerPoint User Error Gadgets Chatbots eWaste Budget Patch Management Managed IT Service Tech Support Star Wars Social Chromebook Wearable Technology Network upgrade Uninterrupted Power Supply Information Technology Specifications Nanotechnology Development Document Management Spyware Typing Humor Customer Relationship Management Alerts USB File Sharing Current Events Co-Managed IT Heating/Cooling Multi-Factor Security Social Engineering Motherboard Cables Computer Care IBM Best Practice Onboarding Time Management Printer Halloween Identity Continuity Solid State Drive Break Fix Websites Fraud Cost Management Smart Office Apps Search Black Friday Screen Reader Charging Identity Theft Cryptocurrency Slack Networking Licensing Dongle IT solutions Going Green Content Servers Google Calendar Safety Wires Training Corporate Profile Google Docs Emergency Education Hacks Digital Signage Network Management Access Control Remote Computing Scary Stories Solar Hard Disk Drive Dark Web Assessment Automobile Network Congestion Running Cable Work Dell Google Wallet Cyber Monday Smart Tech Bitcoin Monitoring Cooperation Service Level Agreement Cabling Printing Streaming Legislation Buisness Router Voice over Internet Protocol WannaCry Business Growth Password Troubleshooting SharePoint Writing Sports Compliance Legal Microsoft Excel Wi-Fi Virtual Desktop Hotspot Internet Exlporer Google Maps Quick Tips Techology Computers IT Technicians Optimization Unified Communications Drones Managed IT Smart Technology Connectivity Windows 8 Spying Staff Leominster Statistics Tablet Modem FinTech Hacker Analysis How To Lenovo Dark Data Update Downloads Retail Regulations Deep Learning Mail Merge Blockchain Language Value Employee-Employer Relationship VoIP Unified Threat Management Mirgation Recycling Shortcut Distributed Denial of Service Politics IoT Digital Payment Recovery Meetings How To Work/Life Balance Tracking Mobile Computing Cleaning Health Private Cloud Black Market CCTV Webcam Law Enforcement Notifications Electronic Medical Records Twitter Physical Security Error Emoji Point of Sale Ben McDonald shares Upgrades Gadget Travel Crowdsourcing BDR G Suite Personal Information Botnet Cortana 3D Printing Regulation Supercomputer CrashOverride Motion Sickness Staffing Processors Taxes Machine Learning Administrator Virtualization Web Server what was your? Unsupported Software IT Budget GPS Mobile Device Management Printers IT Consultant Computer Repair Relocation Cameras Mobile Data

What Our Clients Say

  • BNMC has provided us with nothing less than outstanding service and results for all of our IT needs for the past few years. Every member of their staff is professional, knowledgeable, friendly and eager to solve any problem...
  • 1
  • 2
  • 3