Business Intelligence! A world of data
Business Intelligence (BI for short) is a collection of tools and strategies used to analyze business information. At its core, Business Intelligence is a technology-driven process for analyzing data at many shapes and sizes and presenting tangible, actionable information that helps executives, managers, and other corporate end-users make informed business decisions.
Evolving from the computer-aided decision support systems (often referred to as DSS) popularized in the 60s, leading to executive information systems (EIS), data warehouses (DW), OLAP and finally BI. the concept of Business Intelligence was developed in the 80s but did not achieve a complete widespread acceptance until the late 1990s.
There are many deviations and subsets spreading from the concept of BI, such as Competitive intelligence that collect, access, and analyze business data on competitors and often used to monitor differences in products.
Why Business Intelligence?
Business Intelligence improves almost all parts of a business by empowering access to the firm’s data and then using that data to increase profitability as an overall goal. Companies that employ BI practices can translate their collected data into insights then into strategies that improve productivity, increase revenue and accelerate growth, and it’s difficult to find a business area that does not benefit from better information to work with. Many companies also use BI to support other internal functions such as hiring, compliance, production, and marketing.
The use of Business Intelligence
Enterprises that use BI to measure performance and benchmark their progress toward business goals with a set of tools for quantitative analysis that’s made through predictive analytics, predictive modeling, business process modeling, and statistical analysis. BI uses knowledge management programs to identify and create insights and experiences for learning management and regulatory compliance.
The technology is also used for reporting of enterprise perspectives of data visualization, Executive Information Systems (EISs) and Online Analytical Processing (OLAP), it also enables collaborative programs that allow internal and external business entities to collaborate through electronic data interchange (EDI) and data sharing.
There are other general benefits of Business Intelligence tools as well, like optimizing internal business processes, increasing operational efficiency, gaining competitive in the market, spotting business problems that need to be addressed, accelerating and improving decision-making and more.
Types of Business Intelligence tools:
As stated above, BI Tools are useful to identify customer behavior, improve the visibility and efficiency of a business, and help management make effective decisions. And for the tools, Business Intelligence combines a broad set of data analysis applications, data visualizations, and KPIs. Some of these tools include:
Real-time BI that help business get up-to-the-minute data by directly accessing operational systems or feeding business transactions into a real-time data warehouse and business intelligence (BI) system. And Operational BI which enables decisions and actions in business operations to be based on real-time data as it’s generated or collected by companies. And other tools like Mobile BI, OLAP, OSBI, CBI, SaaS BI, and LI. Each tool has its own uses that we’ll definitely talk about in separate articles.
Business Intelligence and SIGMA IT.
Our Business Intelligence (BI) services, help your organization optimize its capabilities in order to leverage the various types of data and turn it into something that your business can use to make better and more informed choices with flexible business intelligence solutions that delivers insights to any user can understand and use.
We do that by analyzing your data and presenting actionable, customized management products specifically made to fulfill your business needs, helping your executives, managers, and end-users make informed business decisions based on accurate, professional analysis.
Big Data Solutions:
Our big data solutions will enable your business to gain access to the ever-growing, ever-changing big data, all in terms of variety, volume, and complexity with the goal of providing you with a deeper level of actionable information for your business decisions.
Data Warehousing Solutions:
It is no secret that Data Warehousing is the foundation for business analytics and decision making, improved operations, and better customer service.
Most businesses have data warehouses to keep and track history of customers, vendors, inventory, finances and many other aspects of daily operations, facilitated by sophisticated technologies that help to collect and store terabytes of data from almost any source imaginable, and SIGMA IT paves the way for you to manage and leverage the most out of these technologies.
Data Management & Data Governance Solutions
Data is only useful when it’s structured correctly to allow for useful analysis. SIGMA IT data management and governance solutions allow you to identify the problems that exist in your data so that you can fix them.
Govern your data as a whole to stay compliant with global regulations, empowering your customer initiatives with quality data, while protecting their precious data and information.
Data Quality & Data Cleansing Solutions
Data plays a key role in many areas within an organization, such as sales, marketing, and finance, and to get the best out of the data, it must be maintained, protected and monitored over its entire lifecycle. SIGMA IT data quality solutions enrich your master data with business-relevant information, increasing its value and upgrades its quality levels.
With bigger data come bigger problems. Faulty and incorrect data can lead to catastrophic situations and mislead decisions. Our data cleansing solutions guarantees that your data is always dynamic and error-free. Our data scrubbing specialists can handle all your requests while ensuring that the requirements are met within the expected time.
Data Integration Solutions
leveraging your organization’s information assets is one of the most important factors you should take into consideration in today’s business environment. Sigma IT gives you the power to integrate your data through enterprise data sharing with internal teams and applications, clients, and business partners reliably and quickly and according to your business goals.
Data Mining Solutions
With the constant growth of data, organizations are looking for ways to dig up insights from underneath layers of information, and SIGMA IT provides the tools that enable businesses to view these data and facilitate a better understanding of new business opportunities, competitive situations, and complex challenges.
AML Solutions
Anti-Money Laundering and fraud detection and regulatory compliance solutions are some of the most powerful services SIGMA IT provides. Online and Offline, our services revolve around resolving and preventing money laundering, terrorist financing, and other complex matters related to financial crime around the world with a specialized team of experts.
FACTA Solutions
The Foreign Account Tax Compliance Act (FATCA). We focus on empowering our clients to meet their FATCA regulatory requirements with confidence and complete professionalism by Identifying reportable accounts, review the FATCA report content, and help to strategize and build reports.
All our services Business Intelligence services come with outsourcing capabilities in order to save your time and reduce costs. We also offer professional training for corporations, allowing you to improve business performance, profit, and staff morale.