The term Business Intelligence (BI) is given to the methodologies, applications and practices used for the collection, analysis and presentation of business information. Business Intelligence enables better decision making.
At times, it becomes essential for organizations to renew their Business Intelligence strategies to address more issues. Let us see how some strategies can be levied as well as improved to enhance customer service, increase employee productivity, grow revenue, and more.
Essential and Improved Strategies
- Introduce a real time BI into services for customers who look for latest reports and information. This will ensure availability of the latest and updated data to customers.
- Bring unstructured data into picture. Organizations can implement and utilize Hadoop as it is loaded with BI capabilities to handle unstructured data.
- BI technologies prohibits you from the hassle of sifting through and handling excel files at the end of a month or a quarter. Since the time is significantly reduced through BI; profitability, and positive and negative trends can be quickly analyzed in real time rather than on a monthly basis.
- Analyzing customer online complaints before allowing them to spread and amplify through social media, is also a task that can be handled smoothly with the help of BI. This also helps in collecting the data, queries or complaints related to the improvements required, the best product available and the comparisons done.
- BI tools can also be leveraged in predicting revenue and also in taking sales decisions such as shortlisting the clients that must be targeted.
- BI helps in automating budget and forecasting. This can be done through a tool named Adaptive Insights which is a planning and budgeting tool.
- BI enables organizations to shift their emphasis to analysis, rather than focusing on the collection of data. BI strategies have been able to collate data to be presented in a structured format to various departments so that more time is utilized in analyzing it.
- The customers require custom made applications and BI must operate as per a customer’s requirement. Improved and customized mobile applications enable improved customer service, thus providing more value to the business.
- Business Intelligence also provides improved cyber security. With a good cyber security plan, a better security system can be implemented to maintain and secure the database. Also, with enhanced cyber security features, a proper digitalized monitoring of all the data can easily be carried out.
There are several other approaches and techniques under Business Intelligence which can easily be identified, innovated or directly implemented in the organizations for their growth and betterment. One only needs to be aware of the methodologies and their deployment.
Certifications in Business Intelligence
Due to the increase in the popularity of Business Intelligence, a lot of professionals are now keen on building a career in Business Intelligence.
To build a career in Business Intelligence, there are various Business Intelligence certifications available. The most popular ones are:
- Oracle Business Intelligence
- MCSE: Data Management and Analytics
- MongoDB Certified Developer
- Certified Analytics Professional
- MongoDB Certified DBA
- SAS Certified Data Scientist
- Cloudera Certified Professional Data Engineer
Before opting for any one of them, one must first understand the personal preference or requirement and then choose a suitable certification.