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March 2, 2020
March 2, 2020 Conecta Software
ANALYTICS GUIDE

Business Intelligence Resources

Monitoring Resources

Resources for Market Segmentation, Competition and Audience

Data-Driven Marketing Resources

SEO Resources

 

 

The less data needed, the better the information. And an information overload, i.e. something far beyond what is really needed, leads to an information blackout. It does not enrich, but impoverishes.

- Peter F. Drucker

 

Business Intelligence or How to turn a company's raw data into an information resource?

 

Before the computer, it took too long to compile business data and convert it into a usable format. Thanks to new technologies we have mountains of data at our fingertips, with more data coming in all the time. The problem is not so much collecting and compiling the data, but extracting only the valuable information.

Data collection through online questions, reports and analytical processes (OLAP)

If the data are very small, a simple spreadsheet can perform all the necessary analysis with a pivot table. OLAP can be described as a huge spreadsheet with several pivot tables, allowing you to reorder and add up your data based on different criteria. Ad hoc analysis manipulates the data in real time. It differs from static reports.

For example, it is possible to break down sales by region, product and sales employee. These groupings are not static, but can then be rearranged to include product categories, status and warehouse.

Statistics and quantitative tools are used to explain and predict probabilities in a given context.

 

4 questions you can answer with Business Intelligence

The correct implementation of a Business Intelligence software provides information about 4 key questions in the decision making process.

 

Reports or What happened

Collect data and activities that have already occurred. Building reports that answer a particular question or set of questions means taking raw data and converting it into information. This information is in a format that can be used to make smart business decisions

 

Analysis or Why it happened

Graphics allow you to visualize data in a way that allows a deep understanding.

Consultations. Customizable and specific to consult data.

Evaluation and anticipation of the company performanceunder a set of circumstances.

 

 

Monitoring or What happens now

The Dashboard or dashboard. It summarizes useful and actionable data and metrics.

KPIs are key performance indicators.

Performance managementAre all goals effectively met?

 

Prediction or What Can Happen

Prediction models about the probability of an outcome.

Data miningis the extraction of patterns and correlations from large amounts of data.

 

Recommended reading:

Data Literacy

Decision Theory

Next Resources for Business Intelligence

+ What is Small Data?

We understand by small data the process by which data from smaller size y complexityThese are the most common ones, which affect certain parts of a business and are part of the daily routine, allowing for a better understanding of the business.

+ BI By Department

A Business Intelligence solution aims to integrate and optimize the information available to the company. With the BI reports by department, we can differentiate the type of contribution, according to the type of department to which a type of report is directed
+ Digital Transformation Tools - ETL

ETL is a process that integrates the different types of data in a company. It is a key tool for digital business transformation.

+ The Best BI Tools

Business intelligence is the use of strategies, techniques and certain BI tools to transform data into information and information into knowledge

Download our free ebook: "Practical Guide to Selling Online"

We have developed a complete guide to these steps. It includes strategy questions such as the different business models available, how to create a marketing strategy and what data to analyze. You can download the ebook for free here:

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Project co-financed by the European Regional Development Fund. Beneficiary: Conecta Software Soluciones SLU. File number: EATIC2019010001. Approved Investment: 173.800,00 ?. Start date: 01/04/2019. Completion: 30/09/2020. This project aims to develop a multilingual user layer and dashboards for web and windows environments of Business Intelligence solution.

Project co-financed by the European Regional Development Fund. Beneficiary: Conecta Software Soluciones SLU. File number: PI2019010001. Approved Investment: 6,444.80 Start date: 17/10/2018. Completion: 16/10/2019. The present project aims at developing a connector software that automates the generation of virtual catalogues so that the company can offer in its Online Store products with a wide description and with images that make the user experience richer and more complete.

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