What is Business Intelligence (BI) and what is it used for?

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Have you not heard of Business Intelligence (B1) yet ? It is a solution that companies are starting to include to solve problems with digital transformation within the organization. Don't worry! We are going to explain the benefits of Business Intelligence and its applications for your business in this article. Let's get started!

What is business intelligence?
Business Intelligence is the set of processes necessary to offer a computer solution that helps to know how the company is working. Thanks to this data, you can optimize the aspects that need improvement and make more coherent decisions based on the performance of your business . As they say... Knowledge is power!

But that's not all! In the BI world, there are multiple solutions for each company , which means that a solution that is valid for one company may not be useful for others.

Using Business Intelligence
The uses of Business Intelligence are multiple and change depending ios database on the sector you are in, but do not panic because at La Factoría Creativa we want to explain the most common uses of Business Intelligence :

The most common solutions are the creation of custom predefined reports and their automated distribution . Other types of Business Intelligence uses would be:

Forecasting results
Query tool for multidimensional users (query)
Dashboards or scorecards
Special data warehouses (data warehouse)
BI solutions range from systems used for measuring corporate data and related reporting to reports detailing analysis, prediction, and data discovery capabilities, so yes… it’s all about Big Data !

Advantages of applying Business Intelligence
And now what you've been wanting to read... The advantages of using Business Intelligence in your business!

Optimize resources
Using evidence as a principle for decision making
A broader and more concrete vision of your company
Adding value to the business and solutions offered
Identify trends and consumer behavior
Finding new business opportunities as well as problems at some point in the business
Business intelligence evolves at lightning speed according to business needs and technologies. For this reason, at La Factoría Creativa we identify current trends to keep all our clients informed about the most relevant innovations that may be of interest to their company. If you also want to be informed about everything and see how we can improve your business, contact us !