Business Intelligence (BI) is a collective term for data analytics and other methods of processing company data. The goal of BI is to derive decisions for the company based on the data. The combination of these components creates the overall picture of BI for a company. BI also uses the insights from the data to increase the efficiency of the company, to compare it with other competitors, to analyze customer behavior and to react quickly to new conditions.
Data preparation tools, called Business Intelligence (BI) tools, take away perhaps the most important step in data processing - the tedious creation of datasets, which in turn are used to create, and train, analytical models. Many companies already use such tools to consolidate information from production, sales or controlling and present it in a way that can be quickly grasped. The best-known applications of this type are Power BI, Tableau or Qlik. These are variously established software for the visualization of data.
Read more about the advantages of BI and how to take this preparation method to a new level in the blog.