How do BI solutions improve business efficiency?

How do BI solutions improve business efficiency?

When a business starts to grow, it is likely to have to deal with large volumes of data, perhaps even to a point where they cannot handle it. Trying to manage these situations without a BI (Business Intelligence) solution can slow down the speed of work due to the time spent on running statistics or compiling files. In this article, we will explore how BI solutions can improve efficiency in your company, especially for data analysts and developers.

What is a BI Solution?

It is a SaaS (software as a Service) that transforms large volumes of data so that they can be useful in the company and easily understood. In this way, the information can be analyzed much faster, allowing the appropriate changes to be made and results to be seen in a shorter period of time.

These solutions usually work on a pay-per-user basis, in which a monthly fee is paid based on the number of users who use the platform, including external people who may want to have access to it, such as shareholders, collaborators or students. However, there are exceptions such as Portal BI, where it is not necessary to pay for external user licenses.

How do they work?

The operation of the BI solution we use will depend on the type we have, as they are usually divided into 3 main categories: data management tools, tools for discovering new data and reporting tools. These tools work together to collect, analyze and visualize information in a way that is understandable and useful to users.

Data management tools

They collect information from the different sources of the company, and once this is done, they are purified, extracted and transformed and thus can be passed to the system where they can be analyzed later.

Tools to discover new data

These are in charge of gathering information to be used in making an evaluation and predictive analysis of the data available.

Reporting tools

When the information has already been collected and processed, they visualize it in a way that the user can easily understand, so that it can be integrated into dashboards to measure results and generate reports to take action as soon as possible.

A BI solution in action: Portal BI

As an example, let's analyze our Portal BI Platform, which allows the analysis, visualization and embedding of reports thanks to Power BI and Microsoft Fabric technologies. In it, the user has access to all his information in an easy and fast way, being able to visualize data with the help of customizable panels, where different heat maps can be distributed or check in which parts of the world and hours more sales are achieved.

portal bi

Portal BI- The platform that manages and centralizes your Power BI reports in a unified way without paying expensive per-user licensing fees

Benefits of BI solutions for data analysts and developers

BI solutions can provide numerous benefits to data analysts and developers, such as:

  1. Facilitate collaboration between both groups, improving the communication of insights and the creation of data-driven solutions.
  2. Enable predictive analytics to anticipate future trends and prepare companies for changes in the market.
  3. Integrate with other data development and analysis tools, such as Python, R, SQL and other programming languages, expanding their capabilities and enabling more advanced analytics.
  4. Offer diverse data visualization and customization options to meet the specific needs of each user.
  5. Help identify and address inefficiencies in business processes, optimizing operations and improving profitability.

Are they really useful for my company?

Undoubtedly, BI solutions can help organize information much faster, in addition to fulfilling other functions such as:

  • Comparative analysis based on past information for historical evaluation of the company or market.
  • Greater convenience when reviewing by having all the information in one panel.
  • Knowing the patterns, trends and risks that could go unnoticed in a traditional analysis.
  • Analysis of internal and external data integrated in a database.
  • Obtaining accurate information in a detailed and easy to understand way for those involved in it.
  • Plan strategies in less time and with greater precision thanks to the reports obtained.

Some of the most popular BI solutions

  1. Microsoft Power BI: It is one of the most popular and widely used BI solutions. It offers a wide range of data visualization tools, integration with other Microsoft products and a wealth of customization options. Power BI is suitable for both beginners and advanced users, providing an easy-to-use interface and deeper analysis options.
  2. Tableau: Tableau is another market-leading BI solution that focuses on data visualization and interactive analysis. It offers a wide variety of charts and visualizations, as well as integration options with other data sources and analysis tools. Tableau is known for its ease of use and its ability to handle large data sets.
  3. QlikView: QlikView is a BI solution that focuses on data exploration and the creation of customized dashboards. It provides in-memory analysis options and enables users to gain quick insights through its associative technology, which highlights relationships between data.
  4. SAP BusinessObjects: SAP BusinessObjects is an enterprise BI solution that offers reporting, data visualization and predictive analytics options. It supports a wide range of data sources and allows integration with other SAP solutions. BusinessObjects is ideal for companies looking for a robust and scalable BI solution.
  5. IBM Cognos Analytics: IBM Cognos Analytics is a BI solution that provides reporting, analysis and data visualization options. It offers artificial intelligence and machine learning tools for advanced analytics and enables integration with other IBM solutions.
  6. BI Portal: The platform that allows you to manage your Power BI reports in a centralized and unified way, combining the capabilities of Microsoft Fabric, with adaptability and customization in a unified environment, allowing the analysis, visualization and embedding of reports for users inside and outside the organization, without additional licensing costs.

How can I implement it in my company?

Once the service is contracted, BI solutions are easy to implement. Generally, they work in the same way as other SaaS: you enter your account credentials, log in and have the platform at your disposal. Then, you must pass the information from your database to the BI Solution, embed your documents and distribute them in customizable dashboards.

What is the typical price of a BI solution?

The price of a BI solution usually depends on the number of users, since most solutions available in the market charge a fee per user, including third parties that need to see the information, such as partners or investors. When comparing and contrasting different BI solutions available in the market, it is important to consider their features, advantages, disadvantages and costs in order to make an informed decision.

I hope you have found this information useful, however, if you have any questions, please do not hesitate to write to us; our consultants will be happy to help you.

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