What is BI? BI is all about harnessing the data that your business generates in all of its different activities. You need to analyze and visualize this data to clearly understand it and get valuable insights into how your business is performing. These insights in turn allow you to make better informed smarter business decisions to help your business evolve and grow. That’s basically three stages of BI which in theory sounds quite straightforward but in practice it has many challenges. Three stages of BI 1. Data gathering In today’s modern business world, companies generate a lot of data. Gone are the days when it was all contained in spreadsheets and onpremise databases. In this online age we now have things like social media and cloud based business services and they all generate tons of data.
Therein lies the biggest challenge for BI. All this data is separate in what we call ‘Silos’ meaning it is hard to get a 360 view of how your business is performing in all of its activities without having to look at multiple reports in different places. What we really have to do is to bring this disparate data sources together and analyze them together to get a clearer picture. 2. Data analysis Reports or Dashboards are end products of data analysis. These contain visual representations of your aggregated data. Car dashboard displays things like your speed, how much is left in the tank or even the outside temperature, the BI dashboard contains your businesses metrics or KPIs (Key Performance Indicator) like your revenues, stock levels or how much engagement you are getting on social media. When you track and benchmark your KPIs you can measure your businesses performance. Visualizing your data makes it easy to read, understand and digest. A dashboard gives you an at-a-glance snapshot of performance and helps you identify areas where you are doing well and those that might need some more attention or investigation. Data visualization is discipline all unto itself and effective visualization is the key to making sure that your data is as easy to understand as possible.
3. Drawing insights Finally, once we got all the data together, analyzed and visualized it, it’s time for the insights stage where we read the results of the analysis and see what we can learn. Your dashboard can help you spot trends, see how metrics correlate with each other and also compare period of times to see how things are evolving.
There are many BI tools available in the market. Tableau is well accepted as leading BI tool. This is the reason why demand for Tableau training is so high. Sky Infotech offers in-depth Tableau training in Noida and is in running for best Tableau training institute in Noida . This institute is easily accessible from every corner of Delhi/NCR as it is nearby to Noida sector-59 and Noida sector-62 metro stations.
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