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.



No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Monday, December 17 2018

Captcha Image

Subscribe to Our Blog!

Mobile? Grab this Article!

Qr Code

Tag Cloud

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

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