How Business Intelligence works?

Business Intelligence provides support to make strategic and smart decisions in your company.

Business Intelligence (BI) supports decision making through a data capture process. The information is acquired from any system and written into a database modeled for your business. The concept of Business Intelligence, gained ground in the 80s by providing the support needed to strategically make decisions in a company.

Through the integration between different systems of the organization, Business Intelligence concentrates the information in a single place: the Data Warehouse. In this way, metrics, even coming from different data sources such as ERP, CRM, spreadsheets or even text files, can be visualized together, helping to create much more efficient business indicators.

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How Business Intelligence works?

Through a data capture process, the information is acquired from any system and recorded in a database specifically modeled for your business.

With this modeling, known as Dimensional Modeling, it is possible to work with a large mass of data keeping a high performance.

 

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Benefits of Business Intelligence

The Business Intelligence application enables the organization to manage your information in a smart way. Among the benefits of BI we have:  the identification of spare costs, the discovery of business opportunities, accessible data reports, quick reactions to market demands and optimization of prices.

Beyond data accessibility, Business Intelligence tools also help the company to quantify the relationships with suppliers and customers. Other benefits include insight and optimization of business processes through indicator analysis.

Business Intelligence tools help the organization and interpretation of the data generated by the company. They are customized to meet the needs of the organization, presenting different indicators and data dashboards. For this, Know Solutions team keeps direct contact with the customers, through meetings and interviews to understand the segment that it operates. This market knowledge helps you to deploy and manage the BI tool in a way that best represents the company’s reality.

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BI does not exist only to capture the right information

When some companies start using tools or methodologies that involve Business Intelligence they make a common mistake: they think they will find and measure only what’s running fine in the company. The BI Tools exists exactly to find what’s wrong, the bottlenecks and the strange information in your company. That’s import to measure what’s good, but it’s even more import to measure and understand what’s not good. Business Intelligence will help you in both situations.

Usually, there’s something wrong if your tools are providing only information that you already know. You need to find what you can improve: a truncated information flow, an interrupted process, a problem with your employees, etc… By cross-referencing information from different databases it is possible to get such data and BI application begins to become even more useful. But, once the flaws have been detected, what to do?

Risk Management

Using Business Intelligence to know and analyze your risk is very important to make the right decisions in your business. If you’ve already been able to list your top risks, it’s time to check how likely they are to happen, and if so, what impact this has on your business. This is to do risk management.

List the main risks related to your activity by dividing them by major areas: reputation/market risk, financial risk, legal risk, occupational risk, and then classifying them as to their likelihood and severity.

For example, if you work in a large hospital, you could have a risk related to the reputation/market area: the conveyance of false information in media related to the levels of hospital infection of your institution. The probability of this happening is low, but if it happens, the impact is very serious for the institution.

The risk has been identified, now it’s necessary to list preventive and corrective actions if it really happens. Corrective actions may involve the right verification of hospital infection levels of the institution, through internal audits; Constant training of the care team and the correct information made available to patients and their families.

As a corrective measure, after the risk actually occurs, the company can release an official bulletin announcing that the institution complies with the international protocols related to the hospital infection, which includes the disclosure of these data at least in the last year.

More about Business Intelligence:
Data Warehouse
Ferramentas de Análise de Informações Empresariais

 

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