All businesses want to be effective and successful in their field. That success and efficacy will always come from growth. With the businesses, the growth of the business will always come from gaining new customers and costumer’s retention. The business intelligence can help and assist company gain new customers and keep the old customers. BI is the abbreviation of Business Intelligence and it is a formal definition of business intelligence. It is a procedure of collecting data in the business’s area and is often based on data mining techniques and powered by a data warehouse which is an database used for reporting and data analysis. In business intelligence, the data collected is enhanced onto information and into knowledge. BI can provide any business a precise idea of it is customers’ needs and wants. The businesses that has huge amount of data on their customers can act onto the information. The information is indeed helpful the businesses in order to know what are the accurate decision that can come up for the business. Of course, you are using this information to know are the right decisions to be made and are the useful ideas that you must apply for the business to make it more successful and competitive. Businesses and companies use business intelligence to gain understanding and knowledge of a customer’s decision, customer’s needs, customer’s decision-making process, cultural, technological trends and economic. When you are using BI, businesses and companies select either the long or short goals. Business Intelligence helps a company or business reach the goals you want. Last week we installed a huge data warehouse at betontag.dk a site dealing with Betongulve and Betontag in the european marked. It took 4 days to install the datawarehouse alone due the large amount of data on Beton tag and nyt tag they had, and that is only the first part of the problem. Due to the large data amount they have to deal with a term called big data which covers data amounts to large to be processed in real time and they need to be able to create realtime reports on the Betontag data. So we will have to do further optimizations in order to get close to processing those huge amounts of big data.
Using business tools, a business or company needs to collect a huge amount of information. The BI or business tool, it can help and assist businesses store, collect business data and organize. There are some data tools are used for Analytical Processing (OLAP) that is used for analyzing process like data mining. The data tools are namely data modeling, data warehouse and data mining. These tools are very significant in the process of analyzing data and to find out the things those businesses’ needs. You don’t need to worry on how you are able to manage business and how to make decisions accurately with no mistake of course. We have seen examples from companies like Ståltag, Skifertag and Tagpap who have implemented this with great success and having no idea how any of it worked when they decided to give it a try. Before they started their business intelligence project they had to discover what you need about it for your business first. It is important that we apply business tools to provide good analysis to assist decision-making or decision support systems (dss).
Business intelligence has been well known since from the time it was presented and introduced into the business market. Business tools are really significant to control business and to know how to handle customer’s needs and wants. You are able to analyze on what the things are needed in order to make your business effective and efficient for all the potential customers. To improve the efficiency and efficacy of business intelligence, you need to use those data tools mentioned above. The OLAP or data mining is usually referred to as the simple Analytics unlike the stuff they used for the Beton tag project in Norway. The project betontag is based on the cube or hypercube dimensional analysis made by gratis tagtjek a small company specialized in data mining and BI. The better a company or business understands its market and everything from the customers to the competitors. The data being collected from the business is very important. Through the information gathered, you will find out what are the important things that you need to enhance onto your business. You will also find out your customer’s needs and wants.