Dedicated BI applications continue to improve the performance in organizations, while the BI trend is on the rise across industries
The BI (Business Intelligence) solutions depend on analytics. BI enables the transition from user engagement to collective insight, in business environments. The leap involves the maturity of the analytics capabilities employed. Organizations all over the world need to turn raw data into insights that are relevant for them. In order to do this, they employ custom-tailored BI platforms and applications.
Think advanced visualizations, dashboards, reports, data warehousing – all notable BI technologies in 2018, according to Forbes. Employing BI tools in manufacturing is now the standard. They can provide key answers to many questions, such as exactly what and why is happening inside a company’s operational processes. BI tools can also point out how to optimize the said processes.
Having a stream of (real time) data at hand can often make the difference between a company and its competitors. This field is hot – and it will increase its traction even more.
A bi-survey.com statistic shows the BI trends for 2019 as such:
Examples of BI applications:
- Real-time monitoring
- Performance metrics (KPIs)
- Decision support
- Business reporting
- Exploratory Data Analysis
- Data mining (e.g. anomaly detection, clustering, classification, association rule learning, regression)
- Root cause analysis
- Predictive analytics
- Business Process Management
- Complex Event Processing (e.g. Fraud detection, Dynamic pricing, optimizations, monitoring, security)
A standard data route in BI (example)
The general approach in BI applications consists of retrieving the data from the data sources and getting it into the staging area, for the ETL (Extract, transform, load) process. Then into the warehouse. Grouped into types of data, the information is distributed onto data marts (Purchasing, Sales, and Inventory). Here, the data is available for analysis, reporting and mining.
We like to keep connected to the latest Internet of Things technologies. We know the emerging frameworks and we explore the latest developer kits. While dedicating time to R&D activities and to professional growth & development, our engineers also test various tools.
We provide fast prototyping. When it comes to business intelligence, we are able to link your data to the real world, via connected systems and the cloud.
As IoT solutions imply the use of sensors in over half of the cases, the implementation of analytical algorithms and engines for statistical analysis is our forte. Our analytics and big data knowledge is great. We design and deliver exactly the products, connections & innovations that fit your requirements, because we truly understand them. In case you want solutions for your customers, we also know to map out what your customer needs.
The LASTING Software Team* working on BI projects currently holds responsibilities in the following areas, (employing technologies and tools such as Microsoft SQL Server, T-SQL, PowerBI, DataVault & others):
- Database Design – DWH
- Database Performance
- SQL / query optimization
- ETL processes
- Reports and dashboards
*Credits for parts of this material go to our BI team.