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The business technology landscape has changed so fast lately that if you turn your head for a moment and then come back, you may not recognize what you are seeing. Advances in the mobile software and cloud services markets just in recent years have opened the way for a completely new type of relationship between IT and business users. One of the results of this rapid change is that the old boundaries between areas and practices begin to fade. Then there are completely new categories that nobody had listened to until five years ago.
To help you navigate the terrain of business data concepts, we will offer you a basic summary of what some of the most common terms refer to and how they relate to each other.
Business Intelligence Consultancy in Maldives
This is the broadest category and covers the other three terms here (at least as they are used in an IT business context). BI is a decision-making based on data. It includes the generation, aggregation, analysis and visualization of data to inform and facilitate business management and the elaboration of strategies. All the other terms refer to some aspect of how information is gathered or crunched, while Business Intelligence goes beyond the data to include what business leaders really do with the ideas they get from it. BI Solutions in Maldives therefore is not strictly technological; it involves the processes and procedures that support data collection, exchange and reporting, all at the service of making better decisions. One of the trends in recent years has been to move away from systems that rely on IT staff to provide reports and graphs for decision makers to so-called self-service BI tools that allow business users to generate their own reports and Data Visualizations Solutions in Maldives to share with colleagues and help everyone to choose which path to take.
This is how you can decompose data, evaluate trends over time and compare one sector or measure with another. You can also include the various ways in which data is displayed to make trends and relationships intuitive at a glance. If BI is about making decisions, the analysis consists of asking questions: how were the sales of the new model compared with the sales of the previous one last month? How did one vendor compare to another? Are there certain products that sell better in certain locations? You can even ask questions about the future with systems that perform Predictive Analytics. Some companies treat analysis and BI as synonyms, or simply rely on one excluding the other. But analytics is usually the phase of crunching data and questions and answers that leads to the decision-making phase in the overall Business Intelligence process.