3 important data terms you should know

3 important data terms you should know

Business Intelligence (BI) has become an essential function of many businesses. Those who employ some form of BI often see increased sales, or at the very least the ability to make quicker informed decisions more often. When looking into BI solutions however, you will likely come across a number of terms that may be a little confusing.

Define: Business analytics

Define: Business analytics

It seems like over the past five years or so, understanding, processing and leveraging of data has become one of the most important parts of a business. When reading about data you often come across the term ‘business analytics’. Despite this terms common usage many people are confused as to what exactly it is and where exactly it fits into business processes.

Business Intelligence trends for 2014

Business Intelligence trends for 2014

In 2013, Business Intelligence – transforming data into useful information that can be used by managers to make decisions – has become a popular process used by businesses to make better decisions. Because this has become such a popular and important business function, you can bet that you will continue to hear about it in 2014. The only question is what exactly will be the latest developments this year?

Here is an overview of the potential Business Intelligence (BI) trends we could see emerging and growing in 2014.

1. BI is more accessible

Historically, to get the most out of Business Intelligence you need to be experienced or to employ a data scientist.

Business tip: Watch those patterns!

Bi_Dec02_AMany small businesses, even when they are an established company doing well, can encounter problems and run into a wall, blocking progress. Profits can level off and growth or sales can start to level out. This creates stagnation which can be a difficult challenge to overcome, especially to those who are risk averse.

Turning business info into intelligence

BI_Nov05_AThere’s no shortage of data for the small business owner. Whether you hire a professional industry analyst to look at your business information, or do it yourself, statistics and reports can reveal valuable information. But making sure that information is enriched with knowledge is the difference between having numbers to hand and having vital data that could transform your business.

Successful data visualization in 3 steps

BI_Oct08_AThe path to running a successful business starts with making the right decisions. This can be a challenge for many business owners, largely because nobody can see what the future holds. This is why Business Intelligence (BI) has become so popular; it helps us make better decisions.

Data visualization – when to use it

BI_Sep09_AA popular trend related to data is the increasing use of infographics and visualization. While it is true that a visual representation of data can be helpful, it doesn’t mean that every bit of data collected needs to be represented visually or turned into an infographic.

4 mistakes that will lead to BI failure

BI_Aug09_AThe amount of data available to a business is exponentially increasing, and many are starting to realize that they can harness this for help making decisions, predicting trends and outcomes of other business initiatives. This capture and analysis of data is commonly referred to as Business Intelligence (BI) can be incredibly useful, however it isn’t easy, many businesses make mistakes that could be costly.

Making decisions with Big Data!

BI_July15_AWhen it comes to making important business decisions, often the most successful ones tend to be those made utilizing solid knowledge, sound experience and reliable data. Much of this valuable information is now gathered and stored in computers, and the use of this has given rise to Business Intelligence (BI). One new form of BI that is fast gaining popularity is Big Data.