Business Intelligence: how to make the most of data

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For a long time, companies made important decisions based solely on intuition, guided by past experiences and empirical knowledge of the market. But all this was before they learned about the concept of Business Intelligence.

The importance of data analysis for business intelligence
The truth is that many of these decisions were correct, but there were many times when more or less serious damage could have been avoided. Advances in technology now mean that this empirical knowledge can be combined with scientific knowledge, giving managers unprecedented confidence in decision-making.

Today, there are solutions equipped with artificial intelligence that italy whatsapp number database intelligent and consistent ways of making decisions. These ways do not depend on deductive capacity or know-how, but rather on mathematical knowledge, supported by data generated within the organization itself , through analytical systems that allow the collection, gathering and correlation of data from different systems used by organizations and transforming them into valuable insights for decision-making . These concepts are known today as Business Intelligence.

The main objective of business intelligence is to have an easy and direct interpretation of large volumes of data so that it is possible to make strategic decisions based on the right information, at the right time.

But what is Business Intelligence after all?
It is not a business tool, but a concept and set of processes that inevitably depend on robust software solutions to deliver value to the company, and whose objective is to offer the right information, to the right person, at the right time.

This is a process that requires the essential alignment of three factors:

1. Data collection
One of the main premises of Business Intelligence is based on the breadth and depth of its ability to collect, aggregate and structure data from different systems, applications and platforms . Data is the basis for the work of this technology, whose greatest virtue is its profound ability to detect patterns and, from there, make predictions of future behavior .

2. Data organization and analysis
All operations, without exception, generate data. Although at first glance this data may seem irrelevant, when structured, grouped with other data and associated through logical correlations and mathematical formulas, the data generated by each individual action of the company constitutes valuable information for business analysis and subsequent decision-making .

3. Action and monitoring
Before moving on to an analytical tool, it is essential to identify which indicators the organization intends to monitor .

Through these solutions, commercial managers and directors can monitor the evolution of the company's commercial performance at various levels, whether from the point of view of the performance of the sales team, or from the point of view of achieving objectives in relation to what was stipulated, or the analysis of turnover in relation to previous periods, analyses of customer accounts, performance of articles by region, in addition to a huge set of other analyses that allow decisions to be made based on reliable and up-to-the-minute information.

What are the main advantages of Business Intelligence?
Process optimization
Companies that enjoy the benefits of Business Intelligence have the ability to optimize processes in a more direct and faster way than companies that do not use it.

Recognition of opportunities
The insights that Business Intelligence offers allow you to anticipate trends, identify opportunities and pursue them, gaining a competitive advantage.

Intelligent information management
Through Business Intelligence systems, all relevant data for the company appears in visually attractive dashboards that facilitate decision-making at all organizational levels.

Fault identification
Identifying errors and failures is the first step to avoiding serious problems that threaten the future of the business. Through Business Intelligence, it is possible to find all the breaking points in the organizational structure and take immediate measures.

Risk prevention and management
In most cases, Business Intelligence is not used to solve problems, but rather to take preventive actions that minimize or eliminate future risks.