HOW TO GET MORE BUSINESS INTELLIGENCE (BI) OUT OF YOUR DATA

DATA IS THE BUSINESS OF BUSINESS INTELLIGENCE.

It’s what business owners and managers use to make decisions, improve their business processes, and keep up with the competition.

BUT THERE ARE MANY PEOPLE WHO DON’T KNOW HOW TO GET MORE BUSINESS INTELLIGENCE OUT OF THE DATA THAT THEY ALREADY HAVE.

This blog post will discuss some ways that you can start using your data to identify trends that will offer insights to better business decision-making today!

BUSINESS INTELLIGENCE VS DATA ANALYTICS

Business intelligence includes using the information to make business decisions, therefore, business intelligence and data work hand in hand.

DATA SCIENCE ANALYZES DATA TO SEE WHAT COULD POSSIBLY HAPPEN OR SHOULD HAPPEN IN THE FUTURE. 

Business intelligence vs data analytics is less about differences and more about coordination because intelligence vs data analytics isn’t in opposition, they are in communication, used interchangeably, working off of each other.

Currently, many organizations use business intelligence to manage their operations. Let’s take a look at how each of the terms is related and what differentiates them from other terms as such.

THE WORLD OF BIG DATA IS RELATIVELY RECENT.

This is important to know as it will help you understand how to use data science within a commercial environment.

HOW DATA ANALYTICS DIFFERS FROM BUSINESS INTELLIGENCE

In fact, Business Intelligence is highly linked to Data Analytics. Different terms describe different functions, each with its own technical capabilities and purpose respectively.

Business Intelligence in business is not a new concept. It has been around for years and its primary function was to provide decision-making data that managers could use.


Data Analytics, on the other hand, is all about using different machine learning techniques to look at your business’s existing data with an eye towards making predictions or drawing better conclusions from what you’ve already got.

Data analytics also uses more complex statistical processes than BI does – like multivariate analysis and regression modeling.


For example, it can be used (and often is) as part of a predictive maintenance program to help determine when something will go wrong before it actually happens, so steps can be taken ahead of time, to prevent damage or interruptions in service.


The two are closely linked: most organizations use business intelligence for their day-to-day operations, but they also use data analytics to help them make more informed decisions and do more than just what business intelligence does.

HOW DATA SCIENCE HELPS BUSINESSES MAKE BETTER DECISIONS

Let’s say you have a retail business. Wouldn’t it be beneficial to your business to know which products are the most profitable among all of your different product offerings?


You could either collect that information yourself or hire someone else to keep track of it. But however you decide to collect this info, it’ll take some time before you see any results – and in the meantime, there may be gaps in your knowledge, because no one would have been tracking that particular piece of data on an ongoing basis until now!

THAT’S WHERE DATA SCIENCE COMES IN.

Data science would allow business owners to see the most profitable products right away – it can be done automatically, without having to do any manual work at all!

THIS MEANS THAT YOU CAN ADJUST YOUR BUSINESS STRATEGY IMMEDIATELY USING ACCURATE DATA INSTEAD OF WAITING MONTHS OR YEARS TO GAIN INSIGHTS ABOUT A PARTICULAR PRODUCT’S PERFORMANCE.

Data Analytics also lets you identify what other products might be good investment opportunities, based on their profitability over time, so you can make better business decisions for both current and future planning.

HOW BUSINESS INTELLIGENCE CAN HELP YOU MAKE BETTER DECISIONS

Business intelligence has some additional benefits that Data Analytics does not offer: namely customization according to each organization’s unique needs.


Data analytics is the avenue to business analytics and business intelligence. Top execs make important decisions based on sound intelligence vs data analytics.


Business intelligence gives you actionable insights based not only on historical data but data on current business operations.

Whatever your case may be Incus Services can help.

IF YOU’RE A DATA NOVICE, OR JUST LOOKING TO GET THE MOST OUT OF YOUR EXISTING DATA MANAGEMENT, GET INTO CONTACT WITH THEM ABOUT THEIR WORKSHOP OR SPECIFIC SERVICES THAT ARE TAILOR MADE FOR YOUR ORGANIZATION. 

But the workshop is just the beginning. Consulting with Incus Services as part of your data improvement drive can make the difference between being a leading organization or falling behind the competition. 


Incus Services can work closely with your organization to help your data talk to you and offer key insights. It is our objective to provide businesses with the machine learning and artificial intelligence strategies that they need to succeed. 


Aren’t you ready to take your business to the next level? Why wait another moment to lead the finance sector through technology and digital transformation? 

YOU’VE GOT THE DATA AND INCUS SERVICES HAS THE EXPERTISE TO HELP YOU REMAIN LONG-TERM LEADERS IN YOUR FIELD. 



Incus Services
Incus Services
50 Google reviews
Marsha Rudon
Marsha Rudon
2021.11.19.
I thoroughly enjoyed this course. The material presented is invaluable. I can see how Tableau can help our organization to ask and answer, the really difficult questions and help us inevitably to increase our profitability. Thank you to all the presenters who have helped peak my interest in BI.
Samantha Singh
Samantha Singh
2021.11.18.
Very interactive workshop, awesome coaches and definitely value for your money, I highly recommend this workshop and Incus Services !!! You will not regret it
Nicole Orosco
Nicole Orosco
2021.11.18.
The workshop was very hands on, this team was very knowledgeable about the process. I fully endorse 100%. They left me wanting to know more about data Analytics and to develop this skill. Time is life, Team Incus it is!!!
I Beneebee
I Beneebee
2021.11.18.
Wasn't expecting so much for the first day of a workshop. But by the end of the session I was able to create my 1st Tableau Dashboard. Learned tips for better visual presentations, Learned how to incorporate color, publish and present the dashboard. The onus is on me to recreate this now in my own environment. Pressure TALL! Great Job Incus Services!!
Mark Eting
Mark Eting
2021.11.18.
Exceptional
Edward Alexander
Edward Alexander
2021.11.18.
Day 1 of the workshop was excellent. The basics of Tableau and data analytics were covered in a very pragmatic way that provided a solid foundation to start working with real data.
James Padji
James Padji
2021.10.08.
I was not sure what to expect because the class was taught remotely, but I was quite impressed with the entire process. The facility was very professional and there were no problems with connectivity. The instructor's were experts and very clear in there method of teaching. The things I learned I can and will surely use in my daily work.
Frans Amatali
Frans Amatali
2021.10.07.
Thank you for the opportunity. It was an amazing journey in Data Analytics using Tableau. From the coaches I have learned how to Aggregate, Sort and Filter data putting it into a dashboard on how to solve problems using this software. As a group (2) we had to do it by ourselfs and present the data by telling our story about the data and give our findings and recommendation. It was fantastic. Thanks to everyone and especially the Coaches.
AKASH KING
AKASH KING
2021.10.07.
Amazing workshop! Learned a lot! Very professional and fun.
About Us
We are B2B consultants focusing on business intelligence and cyber security serving both large and medium sized organizations by helping them solve their data challenges. With the current advancements in technology, it is imperative that all organizations have a data strategy. It is no longer business as usual and for many organizations. The need for data-driven decision making isn’t a question of strategic advantage but of survival.
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