Download Making Business Intelligence a Part of Your

Making Business Intelligence a Part of
Your Organization
Written by Mark Scott (@docmarkting) September 25, 2013
Business intelligence is a relatively
new field of inquiry that is interested in how we gather, analyze, interpret, and
share information in a business setting. Business intelligence, or BI, can be
observed in small organizations, large corporations, and in the greater global
business environment. Even though all businesses are engaged in data
collection, analysis, and sharing an applied study of how these processes take
place is now possible as a result of cutting-edge computer technology. Business
intelligence software is used for data collection and analysis. Data mining and
Internet-based analytics are just two examples of popular business intelligence
software.
Identifying your data needs
Before business intelligence applications can be brought into your organization
you need to identify what sort of data you want, why you want it, and what you
hope to accomplish with it. These questions will help you identify what
program suites are going to be most useful in your organization.
Intelligence programs can be used to track:
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Frequency
Saturation
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Duration
Intensity
Correlation
and many user-defined data categories
The program mines, records, and stores raw data which can then be compiled
and viewed for analysis. Intelligence programs have become a key factor in the
trend towards data-driven operations and decision making.
Who needs intelligence software and what do they do with it?
Business discovery programs are used by many people in many difference
fields. Intelligence software has been successfully applied to industries such as
food service, sporting, retail sales, wholesale, third party order fulfillment,
transportation, education, and research.
CFOs and other people who work in the financial sector are familiar with many
intelligence tools. Intelligence software is necessary to transform raw financial
data into a useable, comprehensible format. Until raw financial data is
translated into meaningful conclusions and trends, the data remains all but
meaningless. Waste, surplus, spending, and saving have to be shown in relation
to each other and to other financial forces inside and outside of the
organization.
The healthcare industry has been quick to apply business discovery to their
operations. Data-driven decision making and evidence-based practices are
familiar to many in the medical industry since business intelligence information
modeling has been used in this industry for some time. Just as the intelligence
programs used by the financial sector transform raw information into a
comprehensible form, the programs used by healthcare workers helps them
make sense of the measureable trends that can be observed inside their complex
industry.
Many people working in the IT industry will encounter intelligence software at
some point. As interest in evidence-based practices grows there will be an
increasing demand for the implementation of these tools and for meaningful
analyses of the data collected by them. IT employees should also anticipate a
surge in requests for training in BI software. This is a good time to study these
programs and become familiar with the theories underpinning their design.
Where can I find BI software and other resources?
There are several big names within the BI industry – IBM, MicroStrategy,
SAS, Oracle, Microsoft, Domo, and Infomatica are just a few of the bestknown vendors of full stack and niche business discovery tools. Each company
can introduce you to its own products; free or low-price demo versions of these
programs may be available. These programs can also be purchased from any
specialty software dealer, technical business supply source, or IT vendor.
You will need to inquire about training opportunities. Guided learning sessions
will help your team make the most of these new computer programs. Most
vendors have an educational staff that works with their clients, so simply ask
your sales representative about how you can access training services.
Business intelligence is a fast-paced field that touches on virtually every
industry. Advanced technology and software make it possible to collect and
analyze data in entirely new ways. Businesses need to be familiar with this
software in order to remain competitive and understand the data-driven world
around them.
Authored by:
Mark helps his clients first understand what Social Media can bring to their business, be
that brand awareness, customer engagement, customer service or income generation and
then developing, defining and implementing a plan for their business. Mark is the owner
of DOC Marketing a social media & SEO company. He is also a writer for All-BizFinance.com and writingcities.net.