Business intelligence (BI) is a broad term that encompasses the processes and techniques of collecting, storing, and analyzing data from business operations or activities to optimize performance. To get the most out of a BI system, it is essential to define clear objectives, involve stakeholders, select the right technological solution, and prepare for data consolidation. Data consolidation is a method in which information from multiple data sources is combined within a system, which acts as a new single source of information for the organization. This leads to greater versatility in the ways in which companies can manipulate data, making it one of the most popular forms of data integration.
A useful aspect of middleware data integration is that middleware platforms can validate and format data before transferring it to the data repository. This ensures that companies don't end up with compromised data integrity or disorganized data. To get a comprehensive view of your customers, you'll need to combine data from your CRM system, marketing automation software, customer-facing applications, etc. These meetings should bring together company executives, department managers and data analysts who are tasked with maintaining the BI system and working on the acquired data. Business intelligence combines business analysis, data mining, data visualization, data tools and infrastructure, and best practices to help organizations make more informed decisions. In practice, you know that you have modern business intelligence when you have a comprehensive view of your organization's data and use it to drive change, eliminate inefficiencies and adapt quickly to changes in the market or supply.
Today's technology can allow companies and organizations to make the most of their data and gain insights that help drive performance and success.
