The Evolving model of Business Intelligence and how your Organization can Profit from it
Classic Business Intelligence
In the past few years companies have started to lean heavily on Self-Service Business Intelligence (BI) tools. They are using a ‘Classic Business Intelligence (BI)’ set-up so users can analyze data and gain insights.
In most scenarios a data-warehouse (ETL) is used to collect data from various data sources like ERP and CRM systems so that a Business Intelligence tool like Business Object or Qlikview is able to interpret those data.
In this set-up gaining insight is all being taken care of. But is acting on those insights also covered?
Big Data is often referred to as ‘Business Intelligence 2.0’ because it covers new aspects of data processing that Traditional Business Intelligence database and applications couldn’t – due to their technical set-up.
For example, a large web shop traffic/analytics file contains very useful information on client behavior but cannot be processed in a traditional way. Typical ‘Big Data’ tools like Apache Hadoop can process this ‘raw’ data and deliver powerful insights.
These two worlds merge more and more together and give users a complete insight based on all data that matters.
Ways of using your data
While looking at different ways to use your data, the ‘descriptive, predictive and prescriptive’ model is very useful. Descriptive analytics of your data tells you what has happened, what were the trends; Predictive analytics is about using data to make predictions/forecast about the future and Prescriptive analytics is regarding taking an action on predictions/possible outcomes and using feedback on that action.
Acting on Business Intelligence
Business Intelligence (BI) only makes sense if you can act on it. That means, you need the right insights at the right place, and use those insights as part of a process with a clear goal.
This is one of biggest challenges for companies these days and Javra offers solution for this.
We have enriched the power of a Classical Business Intelligence (BI) set-up with a solution to add business-rules, combining business-rules and insights and a native App to give staff all this at their fingertip. And, of course to complete the ecosystem the feedback of that process is processed with the applications involved.
A perfect example is a sales representative of a wholesale organization who visits clients and follows a specific sales process with clear goals. This is clear and simple, without hassle and without clicking around in a dashboard. Talking to customers about KPI’s or any other important topic (based on business rules) becomes easy as they are already in place, and feedback from customers is automatically integrated with the applications involved.