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December 18th, 2018 - By Synoptek
Business intelligence (BI) is the analysis of a company’s raw data to produce actionable insight. BI encompasses so much more than just analyzing Excel spreadsheets. It takes reporting a step further, using data to improve a business’s decision-making — which is why CIO communities are generating considerable buzz about creating new BI strategies for 2019.
BI will likely become part of your organization’s standard workflows next year. From data visualization to new analytics tools, BI is a highly anticipated trend that will benefit businesses of all sizes. How can BI increase employee productivity, capture more market share, and help organizations create better business-building strategies?
Big data made a big splash in 2017, and in 2018, big data became actionable with the use of self-service BI tools. But what is BI — and why is it important?
BI gleans insight from the data a company captures. BI refers to the technology, the data, and the analysis used to create new business insight. BI platforms typically use next-generation predictive analysis with a backbone of machine learning to improve how companies query and analyze data. While BI uses some of the standard data visualization tools, such as pivot tables, these systems are more intuitive, more integrated, and more useful than prior software models. BI is meant to infiltrate every aspect of a business, democratizing the data analysis process with self-service tools while providing business insight to every department.
BI is the next evolution of data capture and data analytics. Creating a data-driven culture is imperative for competitive advantage in the coming years.
4 everyday BI tools for 2019
Toolbox Tech predicts that the following four BI trendsetters will ease their way into our daily decision-making next year:
In 2019, BI will democratize data by cropping up in a slew of self-service SaaS models. New data visualization tools will take the data we have and make it consumable and actionable for all audiences. But how will businesses get the most from these opportunities?
Getting the most from your BI
CIO suggests that businesses have a real opportunity to use smart BI tools to improve the entire organization. In 2019, BI will help businesses:
BI is a rapidly changing phenomenon. In 2019, BI tools could have a positive impact on every department in your business.
Synoptek can help you effectively integrate BI into your daily workflows. Contact us to find out more.