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JetFerry: Background Info on Business Intelligence
Business intelligence (BI) aims to transform data into meaningful information to support business decisions and growth. BI evolved from manually assembled reports in the pre-1970s to performance management occurring twice a year in the 1990s to today's real-time analytics and predictive insights. BI blends tools, processes, and skills to analyze large volumes of data, allowing effective decisions through access to clean, high-quality data visualization and insights. The future of BI includes enhanced data-driven insights, identifying strategies through natural language queries, and more personalized and real-time intelligent decision automation.
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JetFerry: Background Info on Business Intelligence
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- 2. BI GOAL To transformdata into meaningful information for valued decisions and overall growth in business. Growth Strategic Operational
- 3. W H YB I ? Increase Revenue Access data quickly and efficiently Gain Competitive Intelligence Transforming data into your next BIG IDEA Growth gives views of data- Past, Current & Predictive
- 4. E V OL U T I O N O F B U S I N E S S I N T E L L I G E N C E pre-1970s 1990s 2010s
- 5. HOW DID WE GETHERE 1 2 3 4 Manually assembled. Spent on compiling rather than analyzing. Performance Management occurred once or twice a year. Information Energy Decision Making Slow & impaired. lead to loss of opportunities.
- 6. BUSINESS INTELLIGENCE Business intelligence(BI) is the blend of tools, processes, and skills that help to transform large volumes of data into meaningful information allowing effective business decisions to be made ! Introduction Data DelugeData Creation If you can swimYou win Decision MakingDecision DATA TRANSFORM
- 7. SUMMARIZE GETTING ACCESS TOCLEAN AND HIGH QUALITY DATA ANALYZEACCESS WHAT DOES IT DO?
- 8. PROGRESS 1. Predicts customer behavior. 2.Accessing time reliable data- visualization. PERFORMANCE Examines data taking inventory and figuring out how you can analyze them all FEATURES OF BUSINESS INTELLIGENCE PRODUCTIVITY 1. Visualize 2. Envision the right changes 3. Deploy 4. Meet defined corporate goals
- 9. METHODOLOGY ANALYSIS SIMULATION PATTERN VERIFY IMPLEMENTATION COMPLETING THE DEVELOPMENT It visualisesthe scenario and problems in the business: Simplifying the data automation and define trends
- 10. BI BENEFITS Enabling Intelligent,Fact based decision More customer insights More Market Expansion Data Enables Real-time Analysis with quick navigation Better Pricing Decision
- 11. Accessing timely reliabledata.1 IT HELPS COMPANY ANALYZSE ... Predicting customer behavior2 3 4 Real-time data visualization Benefit from insights produced from the end users
- 12. TODAY According to Gartner’sMagic Quadrant: 1. Enhance insights from the data 2. Identifying marketing ,sales, innovation and industry strategies 3. Queries generation via natural language process 4. 40% of data science task will be automated 5. Personalised BI 1. Intelligence delivered in real time 2. Providing alerts to possible upcoming issues 3. Easy to use tools supporting analytic workflow 4. Explore data, dive into dashboards FUTURE
- 13. CONCLUSION Raw data TransformAnalysis(Report/Charts/ Graphs) Insights Decision Business Intelligence 1. An easy way to process large scale data 2. Real time analytics 3. Predictive analytics 4. Intelligent decision automation 5. Prescriptive Analytics