SAP Business Intelligence

// What is Business Intelligence

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Most companies stock up massive amounts of business data on daily basis. These data flows may occur through a number of digital platforms like Enterprise Resource Planning (ERP), different links of the supply chains, e-commerce zones or all other sources situated outside or inside of a company. To utilize this date
profitably enough in making conducive decisions, there is a dire need of latest business intelligence system or BI system. Business intelligence actually represents the means and methods of data analysis to the end of translating all available data into meaningful insights with the help of decision support system (DSS).

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Core components of BI System

Business Warehouse (BW)

This lets huge volumes of data to be stored and optimally sorted for relevant operations.

Extract Transform Load (ETL)

It works to unite all systems together creating a unified database of files and webservices.

Reporting

Data presentation modes come under this component, mostly tools for users of the particular business.

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Business Intelligence vs Business Analytics

The rule of thumb to set the BI and BA apart is that while BI mainly builds on the events of past in relation to those off the present (descriptive lens), business analytics is based on:
(a) The cause of what happened (diagnostic lens).
(b) What does this say about what might happen next (predictive lens).
(c) What should be the plan of action towards the desired outcomes (prescriptive lens).
Hence, they are both interlocking aspects and when combined the give a company full spectrum of analytics across the descriptive, diagnostic, predictive and prescriptive lenses – just what a decision maker needs.

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Key benefits of business intelligence

1. Increased efficiency of management;

2. Decreased managerial risks;

3. Decreased cost and increased savings;

4. Operational and strategic control;

5. Increased transparency of key figures via data retrieval from different sources;

6. Data is available when management needs it without delay;

7. Increased performance and productivity of employees;

8. No additional IT-resources needed for Business users to exploit the companies’ data;

9. Business becomes sustainable while continuing to grow

// Understanding BI further

Business Intelligence Tools and Systems

There are many different tools used in a business intelligence system. Here are some of the most common:

BI reporting

Businesses thrive on presentable and meaningful data that offers insights in user friendly and comprehensible way. This tool develops such reports comprising compact and visually aided summaries. Where numbers and words confuse you, graphs and charts make things easy by showing relationship between any variables. They are interactive and automated too. So, not only can you zoom into desired details but also can send scheduled updates on the trends regularly.

Querying

Questions are the key instruments for users to engage with a business and how they are answered may determine their entire experience. With modern BI querying interface, it has become as simple as asking Siri anything. The intuitive tool swiftly tackles all questions from “What are the current market prices?”, “Which product has had the most sales?”, or “Where can we expect shipping delays?”

BI dashboards

These are the most renowned BI tools. They involve live graphs, charts and many more visual trackers to observe target KPIs or other yardsticks. This updates you about everything through a bird’s eye view in real time. This can again be tailored to focus on indicators in question for making the decisions needed. Finally, you can easily share results with all the stakeholders involved.

Data visualization

Visualization really is the strongest aspect of BI. Computerized and accurately processed datasets are laid out in the most appealing and palatable formats making them accessible like never before. These visuals are easy to customize and are compatible for all types of data be it trends or simply any daily business entries.

OLAP

Many business intelligence systems use this famous online analytical processing (OLAP) technology to power their data discovery features. Data warehouses or equivalent central data storages of businesses contain enormous volumes of information that may be quickly and multidimensionally analyzed using the OLAP.

Data preparation

Data preparation entails gathering information from many sources and essentially getting it ready for analysis. Raw data is filtered, classified, and then exported into a data warehouse using the extract, transform, and load (ETL) procedure. Many of these procedures are automated by high-quality BI systems, which also enable the setting of scales and metrics.

Data warehouse

It is a combined pool of assorted data from all the sources. The data is sorted and brought in a format that is easily accessible for thee BI and its analytical tools.

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