Business Intelligence & Data Analytics
VIEW AND EVALUATE INFORMATION
Business intelligenceBusiness Intelligence describes the ability of the company management to control and understand all processes efficiently in order to have the greatest possible control over all internal procedures. There are 3 hierarchically arranged levels which are connected with each other:
- Strategic level: Corporate management and management
- Department level: Organizational structures such as sales, marketing, finance, controlling.
- Operational level: Individual employee in e.g. process management, quality management, operational control.
Data AnalyticsIn order to ensure a meaningful and efficient control, it is helpful to use data analytics to run statistical methods for the evaluation of company data. It can help to uncover errors but also to recognize trends early on in order to react in an appropriate and future-oriented way.
SEE AND UNDERSTAND BUSINESS DATA
Data can arise and be analyzed in many different business areas, for example in controlling, cost accounting, market analyses, trend research or simulation / planning. The algorithmic tools used for this purpose include classification procedures, cluster analyses, time series analyses or association analyses.
Important here is the understanding of the data and a suitable interpretation of the calculated values. Only in the right interplay, meaningfully performed analyses with the understanding of the workflows and experiences can become valuable information for future decisions. In the age of Big Data, the merging of many company divisions to form large analyses and the most unrestricted evaluation possible in the shortest possible time are also very much in demand and interesting. Due to current trends in database development, especially in the area of NoSQL and main memory databases, the operative and analytical areas can merge even more and complement each other.