Key BI Benefits
Business Intelligence tools are normally used and incorporated when it comes to performance management of an organisation due to the fact that performance management in large organisations is usually the collation and analysis of huge volumes of data. In most cases performance management relies on such applications/tools as a software component definitive that is needed to achieve these goals in an organisation.
Data Discovery in essence is a business intelligence architecture that is used to explore and transform data from different sources into meaningful information through interactive reporting and user driven processes, whereby patterns, trends or specific items within a dataset are identified within an organisation.
Data Discovery techniques will include the use of visual tools such as Scatter Charts (Anomaly Analysis), Bar Charts (Comparison Analysis), Line Chart (Trend Analysis), Geographical maps, Pivot tables, heat maps and many more, along with additional techniques that touch basis with statistical analysis and data mining and machine learning, which all in turn make identifying patterns and specific items a lot more rapid and intuitive.
Data Discovery provides the end user with a platform to visualise data through the use of business intelligence, as these work hand in hand when it comes to identifying critical KPI's within organisations. Business intelligence in its self is undergoing massive transformations whereby it is enabling end users to have access to large and vast amounts of data to analyse, discover and make meaningful decisions through presentations of high quality information.
Data is meaningless until it becomes information through transformation.
Business Intelligence technologies support the core processes of performance management such as business modelling, operations, planning of financials, reporting, consolidation, analysis and monitoring of KPI's outlined in the business strategy.
Business Intelligence enables organisations to measure and manage performance against strategic goals set by the business.
Business Intelligence is the foundation on which business performance management relies on.