How Business Intelligence Contributes to the Digital Transformation Process

BI’s primary goal is to assist companies in ordering the vast amounts of data they collect. [iStockphoto]

Business Intelligence (BI) influences software and services to transform data into functional insights to communicate an organization’s strategic and strategic business decisions.

BI tools access and analyze data sets and display analytic results in reports, summaries, dashboards, graphs, charts and maps to provide customers with detailed intelligence about the business situation.

BI’s primary goal is to assist companies in ordering large amounts of data they collect by supporting four basic objectives:

Collection of details

If nothing else, BI tools quickly and efficiently collect pre-determined data sets from enterprise systems such as Customer Relationship Management (CRMs), Financial Management Platforms and Human Resource Management Systems (HRMs). Additionally, robotic process automation (RPA) and AI-based bots can scrap websites, spreadsheets and other documents for structured and structured additional data.

Data storage. Data lakes and data warehouses serve as central sources for both structured and structured data. These tools store large amounts of data securely and securely for later use in processing and analysis. They clean, integrate and manage data so that it is easily accessible through high quality and data reporting and analysis systems and is eventually used by business content professionals.

Data analysis

The mainstay of business intelligence is focused on detailed and diagnostic analytics, which provide answers to the questions of where your company is, where it is now and why things are now. BI tools must be able to draw from data storage to perform these different types of analytics.

Data reporting. To be useful, data-based insights must be easily and reliably accessible to decision makers and other stakeholders. Instead of waiting for the IT department to compile a report based on business data, self-service reporting tools allow businesses to generate visually appealing reports.

BI and digital transformation are deeply intertwined. In fact, BI was once said to be both the enabler and the outcome of digital transformation.

Since insights gained through big data analytics are used to drive the digitization and automation of workflows, the ability to analyze vast amounts of structured and structured data often to gain insights in real time supports many digital transformation efforts.

The digital transformation initiated by BI Solutions offers enormous opportunity to increase growth and profitability. Promoting data-based organization promotes a faster, better-informed decision-making perspective to compete in the digital economy. Business analysis has redefined the terms ‘data’ and ‘information’. Value is taken from the ability to handle large amounts of data. It allows business development, improved productivity and profitability based on dashboards and reports that are fully and visually appealing.

Take advantage of today’s competition by capturing the latest information in the most desired format – anywhere and anytime. Enterprises can adapt to the digital age by gathering intelligent information that focuses on the future of their business.

This is done through the application of BI. As well as some of its technologies such as predictive analysis, self-service, cloud and mobile BI. To a large extent, BI facilitates digital transformational travel as data leaders act as a catalyst in digitizing company operations along with detailed analysis when creating dashboards and reports to facilitate monitoring of their organizations’ digital travels. Overall, BI is a booster to drive the digital path with full power and focus.

Artificial intelligence

For decades, BI has only been able to tell consumers ‘what is happening’ or ‘what has happened’, leaving the decisive part to humans. However, with the advent of artificial intelligence (AI), it is changing rapidly. Now, companies can use BI to explore and share new, groundbreaking data-based insights, using data mining, machine learning, prescriptive analytics and other innovative technologies.

By modeling human behaviors and thought processes, AI programs can learn and make rational decisions. AI can enable BI tools to generate clear, useful insights from the data they analyze and enable companies to more easily synthesize large amounts of data into a coherent action plan.

Predictive analytics is the use of data, statistical algorithms, and machine learning (or AI) techniques to determine the likelihood of future outcomes based on historical data. Use of Predictive Analytics A key milestone in your analytics journey – the confluence of classical statistical analysis AI’s new world.

Using data mining techniques, predictive analytics platforms sort large amounts of non-structured and non-structured data to identify patterns and make predictions based on past behavior.

All kinds of companies use Predictive Analytics to add value in many ways. For example, IT departments can use Predictive Analytics to estimate storage usage. Predict Analytics dramatically improves supply chain resilience by increasing demand forecasting, inventory planning and end-mile delivery. Hospitals also use predictive analytics to assess patient outcomes and help clinicians make more informed treatment decisions as well as optimize resource planning.

Prescriptive Analytics takes things a step further. In addition to influencing predictive analytics to predict what might happen, it also recommends a course of action.

By combining predictive analytics with another layer of AI, prescriptive tools can simulate different outcomes from the worst case to the best context and show each potential. The faster the need for digitization grows, the greater the need for effective business intelligence solutions.

The future of decision-making is built on digital platforms that make the most of BI because it respects commitment to uncertainty, action on passivity and passion on indifference.

– The author is the chairman of BTN, an ICT provider in East Africa. ([email protected])

Leave a Comment