Business intelligence (BI) is an umbrella term for a coordinated group of techniques that help managers to access and analyze data from many sources in order to discover new information, anticipate trends, create opportunities, and make better decisions. It is the ability to gather comprehensive data about customers through surveys or digital means such as website analytics. This can also include email open rates or opt-in rates on a website for instance. From this data companies can track conversion rates and identify areas of improvement within their marketing campaigns.
Reporting is a subset of BI that provides information summarized in a way that supports effective decision-making. It involves summarizing data from multiple sources into a structured format, such as spreadsheets or preformatted reports, enabling stakeholders to access and analyze important factors needed to make good decisions. These factors can include anything from the number of orders placed on a specific day to which customers are most profitable. The information would then be presented with explanations for what prompted the numbers.
Analytics provides insight into patterns and helps predict future trends by analyzing data sets using business intelligence tools or statistical techniques. Business analytics focuses more on gaining insights about customers to drive marketing initiatives and sales strategies by extracting useful information from user activity, whereas business intelligence is more about aggregating data digitally to provide business insights for decision-making.
We can provide the tools to deliver on all of the above, creating beautiful management dashboards which are available at a click of a button; never miss a deadline with scheduled reports; enjoy real-time access to create Adhoc reports and analytics with simple intuitive tools all year round.
Sound like something you like, then get in touch and let Alisco IT help you along your BI journey now!