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What Is Business Intelligence

What Is Business Intelligence?

Business Intelligence (BI), analyzes the data in specific locations (erp, database, excel,internet, etc.) in a single table and make them understandable in the forms of reports,summaries, tables, graphs, charts.

In other words, Business Intelligence is a set of methods and processes used to develop a definite and clear understanding of business dynamics to support the decisions to be taken.Therefore, many organizations are making significant investments in Business Intelligence systems to improve their management decision-making ability.

In addition to having important advantages for companies trying to make effective and correct decisions, it automatically facilitates business life with its informing, reporting and insight features within itself.

The introduction of Business Intelligence systems plays a role in increasing the impact of scientific and logical approach to managing enterprises and complex organizations. One of the most flexible and useful products in Business Intelligence tools is the POWER BI application developed by Microsoft.

Power BI System Architecture

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What are the Pros of Business Intelligence. Should I Use It?

Business Intelligence, which we have frequently heard recently, started to play a more active role in our business life with Microsoft Power BI. With the increasing use of the Internet, the importance of interpreting the data meaningfully is increasing day by day in order to enable companies to take quick and effective decisions in a short time.

Business intelligence has long been involved in our lives. It can be categorized as before and after Microsoft Power BI.

Because of the high costs before the Power BI, companies did not find it appropriate to invest in the Business Intelligence field. In addition to the monthly licensing fees of 700 -1,000 Euros per user, the high development fees were preventing companies from investing in Business Intelligence. Companies are more and more interested in Business Intelligence and Power BI which is 10USD monthly unless you have Office 365. The fact that the business intelligence has an annual growth rate of 11% confirms this information.

Companies use Business Intelligence when they need to understand the internal dynamics of rapidly changing and evolving business dynamics. However, while a robust Business Intelligence is necessary to make strategic business decisions, most organizations are working hard to implement Business Intelligence strategies for bad data applications, tactical errors, and more.

On the basis of the need of a Business Intelligence platform for enterprises, lays the necessity of evaluating and monitoring the business processes on a daily, weekly, monthly, quarterly and yearly basis, and analyzing the data with a variety of methods, making it more meaningful and faster to make decisions.

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If we are to categorize the 5 basic surpluses of Business Intelligence;

1

Report Center

Business Intelligence collects all your data in one place, collects these data in the format you want to report and you can make better decisions faster than ever.

2

Information Center

After you create your report in Business Intelligence, you can share the file as any file. You can also publish the report to let your colleagues interact with the report. Not only that, but also you can automatically e-mail yourself the report you want, at any time intervals. With this feature, you do not expect your colleagues to bring reports and save time.

3

Notification and Warning Center

After you create your report in Business Intelligence, you can create an auto control by creating target values ​​(kpi) in your report, allowing the system to alert you when the desired / unwanted figures occur. In this way, the system runs automatically and you are automatically alerted by the notification center when the desired / unwanted data is generated.

4

Inside View Center

After your reports appear in Business Intelligence, the system interprets the reports for you and you can get detailed information about your reports using artificial intelligence.

5

Visual Richness

You can summarize all the data in Business Intelligence in the format you want; tables, cakes, graphics, charts, maps, and you can explore and make your work more enjoyable.

According to Robert Walters, a London-based research firm;

8 out of 10 senior executives emphasize the need to use business intelligence.
Business mind; reduces your costs by a minimum of 6%.
Business mind; contributes to meeting efficiency by a minimum of 12.
Business mind; saves time by a minimum of 9%.

The highlights of the “Business Intelligence” article in the Forbes Magazine’s June 2018 issue are;

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