How to Make Intelligent Business Decisions

Business intelligence, or BI, is a term that is used widely and there are experts, such as Abhishek Gattani, who have built their career on it. The first time it was mentioned was in 1958 by Hans Luhn, a researcher with IBM. He defined it as a way to measure facts in order to work towards desired goals. Since then, BI has grown substantially and now refers to the collecting, storing, and analysis of data in an effort to make better business decisions.

Why Do We Need BI Technology?

Data is becoming increasingly large. Being able to accurately and quickly analyze all of the raw data is a mammoth task. Hence, BI technology and software, developed by specialists like Abhishek Gattani, is absolutely vital. This is known as the BI Stack and is what enables intelligence business decisions to be made.

What Is the BI Stack?

The BI Stack is made up of different layers:

1. The data layer contains all the raw data. This comes from sources such as CSV files, Excel spreadsheets, OLAP (online analytical processes), Access databases, Oracle applications, MS SQUL, MySQL, and various other sources.
2. The analytics layer, where the raw data is transformed into information that is meaningful. It focuses on data mining (finding patterns), predictive analysis (concluding future patterns or events), KPI (key performance indicators) formulation (based on predictions), and any other methods used within businesses themselves.
3. The presentation layer, whereby a visual representation is made of the data obtained during the analytics layer. This can be done through indicators, gauges, reports, graphs, performance scorecards, digital dashboards, and more.

Very simply put, different sources provide huge amounts of data. This is then translated into useful information. The information is then displayed in such a way that everyone can understand it.

Where Is BI Going?

BI is a form of technology, and all technology constantly evolves. As such, the BI stack has also been changing regularly. In fact, this fluidity is of vital importance. After all, all businesses are different in nature, which means that they also come up with their own strategies in terms of how to use business intelligence in an effort to make better decisions. This, in turn, will change how the BI stack looks to them. Some of the key new developments that specialists like Abhishek Gattani have seen include:

1. The implementation of mobile BI across the board, something seen in the presentation layer.
2. Important advances in the way predictive analysis is done, which is part of the analytics layer.
3. Making data storage more environmentally friendly, which affects all the different layers.

Business intelligence is one of the greatest assets of any organization, as it shows them where they are going and whether that will leave them relevant in tomorrow’s commercial world. If businesses are to be able to continue to compete, they must gather BI and use it to make intelligence and informed business decisions. This, in turn, means having a good understanding of the BI stack.