Every business’s major goals are to succeed and grow. One of the most important factors in business success is an understanding of business data. Data can be used by business analysts who know what to do with it to determine what their company is doing well and where it needs to improve. With data intelligence, you can uncover and understand data, gain insights, and turn it into better decision-making. In this blog, I am going to explore the following points:
- What is data intelligence?
- Why data intelligence in your business?
- Benefits of data intelligence
- How to implement data intelligence
- Bold BI with data intelligence
What is data intelligence?
Data intelligence is using analytics tools to turn a company’s data into a meaningful insights that solve business problems. This way of converting or cleaning up data into useful forms also leads to a better understanding of the company’s strengths and weaknesses.
Why data intelligence in your business?
As a business owner, you need data intelligence to help you answer questions and run your company smoothly. Data intelligence is required in your business for the following reasons:
- It helps analyze data effectively for improved business operations.
- It promotes customer satisfaction.
- It helps create better quality products from the business.
- It lets your teams deliver on time and generate more revenue.
Benefits of data intelligence
Data intelligence implementation helps you as a user gain the following for your business:
Data intelligence enables you to track data from all sources within your company, giving you a clear picture of your operations. This picture enables decision-makers to obtain data-driven insights in real-time that aid in the development of future business strategies.
Data intelligence helps business owners and managers improve their business’s productivity. It provides you with the ability to understand the company’s productivity level and why it is what it is. Then, they can look for ways to increase it while still ensuring customers still receive higher-quality goods and services.
Improved risk management
Data intelligence enables businesses to manage risk effectively. Company leaders have access to real-time information about their company and industry, allowing them to identify problems early. Early detection of problems gives your teams the time they need to properly mitigate them. Using past and current data to predict future trends also allows a company to identify potential problems before they occur.
How to implement data intelligence
To start integratng your data into a data intelligence system, you need to:
Make a governance plan
Before your company can begin working with its data, it’s data management team needs to sit down with its legal team and department heads to hammer out a data governance agreement. It needs to be clear who has access to what data and what can be done with it. Security systems and protocols should be decided on as well as standards for ensuring data integrity across departments. Starting out with a data governance plan will keep your data useful and its use in compliance with government regulations.
Identify your data
If you want to work with your data, you first need to identify what kind your company collects and where it is. What questions can your data answer? Are those answers useful? Of course, this is a task each department in a company will need to be involved in, since one person is unlikely to know what metrics all departments would find useful. Once you figure out what data you need for your metrics, it needs to be prepared.
Prepare the data
Shape the data that you have selected to make it ready for action. Get all the holes filled and remove the unwanted outliers and anomalies that may cause distraction. Clean data is necessary if it’s going to be useful.
Bold BI is an analytical tool that allows you to connect your various data sources and transform raw data into a form that can be analyzed. So it can do your data preparation for you. The data can then be visualized graphically to identify trends, allowing you to make better business decisions.
Let’s look some key features of Bold BI which help you implement data intelligence and make better business decisions with more confidence.
Bold BI with data intelligence
Bold BI is a powerful BI and analytics solution that allows you to glean insights from your complex data by visualizing it using a wide range of widgets and hundreds of data sources. Bold BI’s drag-and-drop interface and user-friendly designer enable employees who don’t have a technical background to create powerful, attractive, and interactive dashboards.
Some key features of Bold BI
Bold BI allows you to combine and transform data from over 130 data sources, including your preferred data warehouse. It lets you perform actions like joins and filtering, as well as add calculated fields at the data source level and preview your data in the visual editor. Included access to the Syncfusion Data Integration platform allows you to perform advanced data preparation.
Bold BI provides 35+ widgets to analyze your data, such as bar graphs, pie charts, and maps. Other features include drill-down abilities, linking to other dashboards, templates, customization, tabbed dashboards, and more. You can visualize your data exactly how you need it delivered to the right people.
For any analytics deployment to be successful, you should be able to connect to all kinds of business data. Bold BI makes it easy to connect to data in relational and SQL databases, data warehouses, REST API services, big data systems, and local files.
Display results from predictive models produced using other machine learning environments. Bold BI also offers integrated time-series support that helps you recognize seasonal changes and forecast trends.
Bold BI is customizable and extensible, with a variety of features that are suited for embedding. It has a mobile app and supports authentication protocols, multiple development languages, themes, data source manipulation APIs, a granular permissions model, and more.
With Bold BI, your data is always under your control. For instance, you can keep the entire product and all its data within your private data center or your public cloud account with absolutely no access provided to anyone except you. Row-level security allows you to maintain a single dashboard for all users while limiting access to the data within it.
Bold BI helps you easily embed an analytics solution into your business application with many essential features, such as automated provisioning for tenants and single sign-on with Office 365, OAuth 2.0, and OpenID integration. You can deploy on on Windows, Docker, Linux, Kubernetes, and Azure App Service.
Data intelligence examples
In this section, you will see dashboard example for three industries:
IT departments are the front line in monitoring the quality of products and services provided by a company. When IT struggles, the company struggles to run smoothly and effectively. Using embedded analytics in IT helps manage company data in any form, improve customer service, provide better oversight on projects, and more.
To gain a edge, construction firms can use embedded analytics to monitor all their data in one place, providing them insight into areas where they can improve the quality of their work. Embedding a quality management dashboard helps a construction company analyze project planning, customer satisfaction, time management, and progress toward goals.
Many healthcare workers have found it difficult to manage their workloads due to the rising number of both patients seeking care and peers leaving medicine. They have struggled to find the best way to monitor and improve the health of their patients. Embedding a patient health monitoring dashboard in a healthcare app makes it easier to care for and observe the responses of patients.
I hope you better understand data intelligence and how it helps you to gain actionable insights to achieve your goal.
Try Bold BI by signing up for a free 15-day trial to create interactive business intelligence dashboards. You can contact us by submitting questions through the Bold BI website, or if you already have an account, you can log in to submit your support question.