Technology

What is Business Intelligence (BI)?

Business Intelligence is a term that refers to a set of software applications and technologies designed to collect, manage, and analyze information from various business management systems or other databases. As a discipline, Business Intelligence consists of activities such as analysis of large volumes of data, online analytical processing, queries, and reporting.

Until now, companies often had to turn to the IT department for the reports and analysis they wanted. However, as the requirements of this nature are constantly growing, there has been a need for independence from IT support with Al Rafay Global. Added to this is the desire for a BI system to support the daily activities and decisions of all the company’s employees and not only of the managers. In this context, Business Intelligence systems have appeared, which have two extremely important characteristics: they are self-service and operational.

Self-Service Business Intelligence: What is it and why is it useful?

This concept has emerged as the IT department finds it increasingly difficult to keep up with the increasing complexity and number of analysis requirements expressed by companies. In addition, BI applications and projects are not always understood equally by business people and IT people alike.

Today, with the help of Self-Service Business Intelligence systems, any decision-maker within the company can create the reports it needs on its own, without the need for the intervention of an IT specialist for Al Rafay Global. This facilitates access to information, decisions can be made in a much shorter time, based on real data and not on instinct or assumptions.

The concept of Operational BI

If until recently Business Intelligence systems were mainly used by top management, in close connection with IT, which deals with providing the required reports, now the transition to self-service Business Intelligence has been doubled by the advent of operational BI systems. These are still extremely useful for managers, but they come with a novelty, that they are able to support.

The daily activities of employees through certain features: real-time updated data, secure access to information anytime and anywhere, depending on the role of the employee in the company, analyzes and reports easy to do with a minimum of technical knowledge and so on. An operational BI software allows you to detect trends and problems as soon as they appear, employees can solve them immediately. In this way, the transition to a new organizational culture is made form Al Rafay Global, which changes the role of the employee from an executive to a decision-maker.

What are the benefits of the next generation of Business Intelligence software?

State-of-the-art Business Intelligence software helps companies do business in a smart way because:

  1. Facilitates the decision-making process, constantly providing accurate, complete. And up-to-date data, regardless of the storage environment from which they come. ERP system, CRM, or any other company resource management system
  2. Decreases the costs related to the implementation of a BI software, given the reduced dependence on IT specialists
  3. Increases employee productivity, the information can be accessed at any time and is presented in an extremely intuitive way
  4. It helps to develop the business because it offers access to new perspectives on the activity. Information that was previously difficult to access and in addition was difficult to understand. Is now in an interactive form just a few clicks away

Why have BI systems become indispensable?

Business decisions are now much easier to make because managers can use BI to see. How their business will evolve in the future. The forecasting function (Forecast) of the BI system allows them. To obtain future estimates of the indicators of interest. Starting from the already known data. Furthermore, with the help of the Business Intelligence system. More precisely using the “What-if” type analysis, they can find out. What impact the decisions they make on the business could see.

The new context in which any change, regardless of whether. It comes from the economic, social, political, etc. Environment, is acutely felt by most companies. Has led to the situation in which decisions can no longer be made based on assumptions. Therefore, there is a need to substantiate them with clear evidence. Supported by current information presented in an easy to interpret form. Business Intelligence systems meet these requirements and contribute significantly. To avoiding the deadlocks that can occur within an organization.

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