The main aim of every company is to attain effective growth. Companies strive to develop by coming up with improved products, services, and marketing ideas. Implementing business intelligence in your business process lets you know what improvements are most needed. In this blog post, I am going to explain how Bold BI could help your company with the following topics:
- What is business intelligence architecture?
- How does business intelligence architecture work?
- Key components of business intelligence systems.
- Benefits of business intelligence architecture.
What is business intelligence architecture?
Business intelligence architecture is the whole flow chart for data, from its source to the visualizations business leaders use to make company decisions. It includes both the programs used to collect, keep, clean, analyze, and visualize the data and the policies and standards that govern the movement of the data through those programs.
How does business intelligence architecture work?
Business intelligence architecture works by collecting, integrating, analyzing, visualizing, and distributing the latest statistical data of the company to interested parties. This data analysis and reporting help an organization track its business performance and optimize its processes, identifying financial opportunities, improving strategic planning, and making better decisions that benefit the company.
Key components of business intelligence systems
There are five main components of a business intelligence system.
Data integration combines all the data from different sources and cleanses it. Data integration usually involves some kind of ETL (extract, transform, load) technology that automatically processes raw data, performing tasks like the deletion of duplicate data and mapping relationships between data sets. This initial organization of the data improves its quality enough to be useful in analysis. After transformation, the data is stored in a data warehouse.
Data warehousing is the storage of a company’s data through operational databases. After collecting data from various sources, such as from different departments within a company or multiple online data sources related to a particular industry, you want to store it in a single place. This way, you don’t keep calling on those sources, slowing the process down. Then, after the data is initially processed, it’s stored in a data warehouse.
Data mining is the process of finding new patterns in enormous amounts of data. It uses machine learning and statistical models to pull out these patterns, as well as rules, which can then be used for further analysis.
Data analysis often involves online analytical processing (OLAP), a technology that allows interested parties to manipulate the prepared data in your data warehouse. The data can be sorted and queried for information relevant to business concerns, performing calculations and presenting metrics to users.
When you’ve finished the process of data analysis, you’re left with a lot of organized, but still mostly incomprehensible results. This is where visualization comes in, in the form of widgets like grids, charts, maps, and summary cards, depending on the data and the answers you’re looking for in it. If you’re looking for multiple answers or an overview of the metrics, you can put multiple widgets together to form dashboards and reports. Interactive widgets let you adjust your questions and monitor changes in the results with real-time data updates.
Benefits of business intelligence architecture
Managing data properly leads to desired results from the organization’s data sets. With systematic analysis and organizing of the data, a business intelligence system automates most of the tedious parts of analysis. This eases the work of anyone seeking answers from the data and provides a smart way to present them.
The following are some of the benefits of business intelligence architecture:
- Improved insight and experience.
- Satisfactory data management.
- Ensuring credibility of data.
- Improved scalability.
Improved insight and experience
Analysis of the company’s data provides insight into its operations, letting leaders better plan for the future. For the visualization aspect of BI architecture, users can create reports and dashboards with charts and grids that clearly reveal trends in the data. When information presented is easy to understand, cross-department collaborating on data-driven decisions for the company is a smooth experience.
Satisfactory data management
Collecting, organizing, and protecting a company’s data is part of satisfactory data management. A good business intelligence architecture helps you collect raw data, clean it, store it in a data warehouse, and keep it safe every step of the way. This depends partly on company policies for data use and access. Between commissioning reliable programs for each step of data processing and developing wise data practices, a company’s reputation for data handling will be safe, even as it reaps the benefits of analysis.
Ensuring credibility of data
Business intelligence architecture involves steps, like data warehousing and access limitations, that improve the longevity and credibility of the data that it uses and stores. Data warehouses store a history of the data. Policies that limit access to data keep the chances of corruption, tampering, and accidental editing to a minimum. This and other standards on data governance provide a framework for managing data across all departments, giving users confidence in the accuracy of the conclusions they’re drawing from the data in their systems.
Business intelligence architecture provides different technologies to work with in order to deliver solutions. Many of these technologies provide a means of automating large parts of the data processing workflow. If the amount of data being pulled for processing and analysis increases, this automation means that the architecture can handle this kind of scaling. This allows you to keep monitoring your metrics in real time, knowing you are looking at up-to-date statistics.
Enhance your business intelligence architecture with Bold BI
Bold BI fits into your business intelligence architecture with interactive features to improve your operation. Here are major features that enable you to enhance your BI architecture:
- Data visualization
- Data preparation
- Data connectivity
- Predictive analytics
Bold BI visualizes metrics in the form of interactive dashboards with attractive widgets like charts, grids, and maps. These widgets are not only easy to read, but easy to create. Even employees with little tech know-how can display the metrics they need in Bold BI’s dashboards.
Bold BI offers data preparation features that make your job easier like visual data modeling, calculated fields, and the Data Integration Platform. Also, with Bold BI there is no requirement to bring all your data into one data store. You can connect to any data store of your choice directly.
Bold BI lets you connect with over 130 data sources like NoSQL, relational, REST API, big data, and local file sources. You can also directly connect to popular data warehouses like Amazon Redshift to store your transformed data.
Embedded analytics needs to be customizable and extensible to meet the specific needs of your applications. Bold BI provides features like theming and event handling that make it especially suited for embedded use.
With Bold BI, every aspect of deployment and routine management, such as provisioning tenants, users, groups, permissions, and scheduling reports, can be fully automated through a rich API layer.
With Bold BI, you can display results from predictive models produced using other machine learning environments. Additionally, you can use built-in methods available for forecasting to help stakeholders identify business risks and understand trends.
Bold BI grants you granular control over access permissions and data security at rest or in transit.
Bold BI helps you seamlessly integrate dashboards in your applications written in ASP.NET Core, ASP.NET MVC, Angular, ASP.NET, and Ruby on Rails. It saves you time and prevents you from doing redundant work. Click this link to explore its features. To learn more about embedding dashboards into your application, refer to this blog and our help documentation.
I hope now you have a better understanding of Bold BI and how it can fit into your business intelligence architecture. You can create a dashboard any way you like with Bold BI’s 35+ widgets and 130+ data sources.
Get started with Bold BI by signing up for a free 15-day trial and create more 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.