Self-service Business Intelligence Tools: Exactly Just How Computer-centric Analytics Are Actually Altering The Video Activity – For decades, the data and analytics industry has been trying to get more people in organizations using data. Relabeling it “data democratization” doesn’t solve the problem. The advent of visual analytics has not done that. Low adoption is a “last mile” issue we’ve been discussing for 15 years. The checklist is as follows:
That’s why you see statistics like this: 67% of employees have access to analytics tools. Only 26% of them are using them.
Self-service Business Intelligence Tools: Exactly Just How Computer-centric Analytics Are Actually Altering The Video Activity
In my experience, those 74% of non-adopters live in a world of limitations that are not fully appreciated. Non-adopters are
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Data analysts who make data a core element of their role. They are managers, consultants, marketers, salespeople, and front-line decision-makers. They already have a full-time job as a data analyst don’t they. Working with data requires filling in the cracks, not changing the way they work. Their time is limited and their attention to data is limited.
Meanwhile, analytics vendors have been moving in different directions. They are eager to add more features. So why not? Their users (26% of adopters) require it. They want more integrations, more machine learning/artificial intelligence, more ability to shape, configure and manipulate massive amounts of data.
Check out updates from Tableau. “It has a lot of highlights and everyone will enjoy it.”
If everyone is already on board, they will love it. But when we talked to the 74% of people who haven’t adopted these increasingly sophisticated analytics tools, here’s what we heard:
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I don’t have time to learn new tools “This looks easy to use. Can you help me do it?” “I’d rather stick with the things I love, like Excel and PowerPoint” “I don’t have time to put together a great presentation” “I spend all my time collecting, cleaning data. Then I have to do analysis.” “I don’t like my slides, but it takes too much work and time to do better.” I can’t let it My audience paid too much attention to the data. “They didn’t want to sit down and listen to a long presentation.” “They didn’t want to open my spreadsheet.”
Logi Analytics conducted a survey that hints at the gap between available tools and these time and attention constraints:
My friend Mike Kelly, CEO and founder of TeamOnUp, gives me a hard time because I like to say that data challenges are more of a human problem than a technology problem. And then he said, “If you believe that, why on earth are you selling technology solutions?”
That’s our original intention with Juicebox. We wanted to make a data storytelling platform that my mom could use (she made it for a nonprofit), my 10-year-old could use (she made it and blew her teachers away), and busy consultants could use Impress their customers.
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If you’re one of the 74% of people who haven’t logged into a Cognos, Salesforce, or PowerBI account in a while, why not try something built for busy non-analysts? It is increasingly important for businesses to have a clear view of all their information. Data to stay competitive, that’s where business intelligence (BI) tools come in. After all, nearly 50% of businesses already use BI tools, and forecasts show continued growth in the coming years.
But for those who haven’t adopted the tools yet or simply want to learn more, it can be difficult to understand exactly what BI is. We created this complete guide to educate people on what BI is, how it works, and more.
Business intelligence combines business analytics, data mining, data visualization, data tools and infrastructure, and best practices to help organizations make more data-driven decisions. In practice, you know you have modern business intelligence when you have complete visibility into your organization’s data and use that data to drive change, eliminate inefficiencies, and quickly adapt to market or supply changes. Modern BI solutions prioritize flexible self-service analytics, data management on a trusted platform, empowering business users, and gaining insights quickly.
It’s worth noting that this is a very modern definition of BI, which has a stifled history as a buzzword. Traditional business intelligence (capital letters etc.) first emerged in the 1960s as a system for sharing information across organizations. The term business intelligence was coined in 1989 along with computer models for decision making. These programs evolve further to transform data into insights and then become specific offerings for BI teams to deliver IT-dependent service solutions. This article will serve as an introduction to BI, just the tip of the iceberg.
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Businesses and organizations have problems and goals. To answer these questions and track performance against these goals, they collect the necessary data, analyze it, and determine what actions to take to achieve the goals.
On the technical side, raw data is collected from business systems. Data is processed and stored in data warehouses, clouds, applications and files. Once stored, users can access the data and initiate analytical processes to answer business questions.
BI platforms also provide data visualization tools to convert data into charts or graphs and present it to any key stakeholder or decision-maker.
Business intelligence is not just a specific “thing,” it is an umbrella term that covers the processes and methods of collecting, storing, and analyzing data from business operations or activities to optimize performance. All these factors combine to create a comprehensive view of the business that helps people make better, actionable decisions. Over the past few years, business intelligence has evolved to include more processes and activities to help improve performance. These processes include:
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Business intelligence includes data analysis and business analysis, but only uses them as part of the overall process. BI helps users draw conclusions from data analysis. Data scientists delve into the details of data, using advanced statistical and predictive analytics to discover patterns and predict future patterns.
Data analytics asks, “Why did this happen and what happened next?” Business intelligence takes these models and algorithms and breaks down the results into actionable language. According to Gartner’s IT Glossary, “Business analytics includes data mining, predictive analytics, applied analytics, and statistics.” In short, organizations use business analytics as part of their larger business intelligence strategy.
BI is designed to answer specific queries and provide overview analysis for decision-making or planning. However, companies can use an analytical process to continuously improve with subsequent questions and iterations. Business analysis should not be a linear process, as answering one question may lead to subsequent questions and iterations. Instead, think of the process as a cycle of data access, discovery, exploration, and information sharing. This is called the analytics cycle, a modern term that explains how businesses use analytics to respond to changing problems and expectations.
Historically, business intelligence tools were based on traditional business intelligence models. This is a top-down approach where business intelligence is driven by the IT organization and most, if not all, analytical questions are answered through static reports. This means that if someone has follow-up questions about a report they received, their request will go to the bottom of the reporting queue and they will have to start the process over. This results in slow, frustrating reporting cycles and an inability to make decisions with current data.
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Traditional business intelligence is still the common method for reporting regularly and answering static queries. However, modern business intelligence is interactive and easy to understand. While IT remains an important part of managing data access, users at multiple levels can customize dashboards and create reports inadvertently. With the appropriate software, users are able to visualize data and answer their own questions.
Now you know what BI is and how it works. But how exactly does BI help businesses?
BI is more than just software, it’s a comprehensive, real-time way to view all relevant business data. Implementing BI can bring many benefits, from better analytics to increased competitive advantage. Some of the key benefits of business intelligence include:
Many different industries have pioneered the adoption of enterprise BI, including healthcare, information technology, and education. All organizations can use data to transform operations. Given the information presented in this article and available online, it can be difficult to understand what exactly BI does. Real-world examples can help, which is why we build case studies based on our customers’ success stories.
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For example, financial services company Charles Schwab uses business intelligence to gain a comprehensive view of all of its branches across the United States to understand performance metrics and identify areas of opportunity. With access to a central business intelligence platform, Schwab can consolidate its branch data into a single view. Now, branch managers can identify customers whose investment needs may change. Leadership can track whether a region’s performance is above or below average and click through to see the affiliates driving that region’s performance. This will lead to more optimization opportunities and better customer service for customers.
Another example is meal kit service HelloFresh, which automated its reporting process because its digital marketing team spent
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