O QUE É BI (Business Intelligence) | 06 Dicas Simples de Como Funciona

What is BI (Business Intelligence)? Known in Portuguese as Business Intelligence, this subject has been increasingly worked on by all types of companies to be able to take more assertive and planned decisions. And by collecting, analyzing and working with very relevant data , BI makes all the difference for any business to manage its affairs well and grow every day.

So, understand now what BI (business intelligence) is, the main advantages it brings to your business and 06 simple steps on how it works! You want to receive tips and information to set up your own business. So subscribe to this channel and stay on top of everything you need to know to start your own business.

To try to make this matter clear to you, let's address the following points: 1. WHAT IS BI (BUSINESS INTELLIGENCE)? 2.

ITS MAIN ADVANTAGES 3. 06 PRACTICAL STEPS ON HOW IT WORKS So, let's go! 1.

WHAT IS BI (BUSINESS INTELLIGENCE)? Can be translated as Business Intelligence , BI (which is an abbreviation of Business Intelligence) is the collection, storage, organization, analysis, interpretation and application of data and information to help in a company's decision making. In other words, Business Intelligence transforms raw data into important and strategic information and insights for any type of business.

And with an increasingly competitive and dynamic market, with increasingly demanding consumers, BI becomes essential to ensure that companies have very relevant data to be able to make coherent and assertive decisions. That said, we can say that one of the main goals of BI is to provide an organized information base. And so, help companies to work their plans and strategies consistent and cohesive.

In this way, identify opportunities and points for improvement. As well as finding possible threats or preventing risks. And all this information can be delivered in reports, infographics, dashboards, presentations, whatever.

That is, Business Intelligence. is literally able to define where your business will go. 2.

ITS MAIN ADVANTAGES In an increasingly dynamic world, where information is constantly updated and changes, Business Intelligence is capable of analyzing the entire flow of information in a constant manner. Likewise, the amount of data is increasing and in demand. This is exactly what BI will collect, organize and work with.

In other words, Business Intelligence collects all this amount of information and transforms it into very relevant data so that the company has all the conditions to make an assertive decision. Likewise, it analyzes the market efficiently, including monitoring the competition well . As well as its consumers.

It literally turns raw data into very useful business information. In this way, BI helps you find market opportunities. At the same time, identify points of improvement and also control possible risks and threats.

In this sense, it leaves your company much more prepared and planned. Furthermore, Business Intelligence makes data analysis much more agile. As well as providing more speed to possible process adjustments that are necessary.

In other words, it accelerates positive changes and improves a company's internal routines. Mainly because BI has the foundation of what it needs to make adjustments that can optimize the company's activities and bring efficiency to processes. Likewise, with data intelligence, your business will be able to focus where it really matters.

And so, using fewer resources without losing efficiency or competitiveness. And it can be worked to make strategic investments in a cohesive and consistent way. As a result, your company's information management will be efficient and organized.

And so, it will bring valuable and enlightening insights and data. With that, all your company's planning and strategies will be based and worked on concrete information. Thus, your company's revenue tends to grow more and more.

Because your actions will be worked according to the directions found by BI. And in this way, BI can become a competitive advantage for your company to be able to stand out in the market. As well as staying ahead of the competition.

And if you want to go deeper into how to create and work on a good Competitive Advantage, watch our very practical video on this subject. To watch it, just click on this button up here or on the link we left in the description. 3.

06 PRACTICAL STEPS ON HOW IT WORKS 1. DEFINING THE GOALS The first step is to define the Business Intelligence goals for each task. That is, keep in mind what is expected of BI.

For example: studying the performance of the competition, market behavior, customer preference, trends, in short. Understand what the company really needs. And make the entire team aware and engaged with it all.

That way, everyone will know where they need to focus and the expected results. And a very important point here is to establish the KPI's. Basically, they are used to measure whether an action or a set of actions are meeting or exceeding the goals planned by your company.

In other words, measure if things are going according to plan. So if you want to understand the KPI better, watch our hands-on video on this topic. Clicking here on this button up here or on the link we left in the description.

2. USE SOFTWARE In addition, it is very important to use tools to work well with BI. They made it possible to integrate areas, data and deliver all the necessary analytical potential.

So, look for really complete options that fit your company's needs. As an example of tools or software, we can mention: Microsoft Power BI, Studio, Tableau, QlikView and Google Data Studio (which even has its free version). 3.

DATA COLLECTION Data collection is based on the objectives defined in the previous step. So it will happen by focusing on where it really matters. Also because, as we said here, the amount of information is growing and dynamic.

So, by focusing on objectives, data collection will be more targeted and planned. 4. DATA ANALYSIS Now it's time to define the metrics and interpret the collected data.

Likewise, it is very important to organize all the information to facilitate the comparison and visualization of what has been done. This is where the valuable insights and revelations lie. Because that's when the collected data is analyzed in depth.

Remember to always consider the defined goals we talked about earlier. Thus, the results of BI will be clear and targeted. 5.

SHARING After the data analysis, share the results obtained. All this information, which as we speak, can be divided into presentations, reports, dashboards, infographics, anyway. These results should be forwarded to their respective corresponding areas.

In this way, managers and employees will have the necessary basis to discuss, align and make their decisions. 6. MONITORING And finally, monitor the collected and analyzed results.

As well as the relevant insights and data obtained. And so, constantly review them to keep the information up-to-date and valuable. In this way, continue to look for new data sources that are in line with market movements , the public and the company itself.

See how BI (Business Intelligence) is very important for any type of business? With it, your company's decision-making will be much more grounded, coherent and assertive. Therefore, if you work and structure this subject well , you can be sure that your company will be able to work and focus on actions that will really make a difference.

And so, stand out in the market and grow every day. And just to recap what we said here: 1. WHAT IS BI (BUSINESS INTELLIGENCE)?

2. ITS MAIN ADVANTAGES 3. 06 PRACTICAL STEPS ON HOW IT WORKS We hope you enjoyed!

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