What are different types of business intelligence technologies?
Business Intelligence Technologies - or BI technology - are an essential part of business in today's world. Their primary purpose, known as the technology of decision -making support, is to enable businesses to collect data faster and more briefly, allowing major decision making. This speed and efficiency unit has become a catalyst for creating new and improved types of BI technologies, including data mining and text analysis, cloud data services, web analysis, predictive technologies and real -time monitoring. These technologies help ensure that businesses have the ability to obtain and store a large amount of data, actively analyze their data, and then provide customized products and services to customers. This version of BI technology helps business owners to perform a comprehensive data analysis leading to predictive models that can better emphasize specific fifts trends. Text analysis allows businesses to extract key phrases from answers to survey questions. These answers help companies categorize and analyze results for structuring future events.
other types of business intelligence technologies are cloud data services and web analytics. Cloud data services indicate the use of the Internet as virtual office space to share files and data on a public or private basis. The storage and analysis of data in the cloud allows more computing power and capacity than some businesses in the house. Web analysis Consider the behavior of visitors' behavior on the company's website, such as the length of time spent on the homepage, a degree of clicking on other pages and purchasing frequencies.
Basic technologies of business intelligence technologies focus on data on the volume of products or services sold, customer demography and profit margins. This data collection allows businesses to create forecasts for the futureThe business trends. However, predictive technologies offer an improved version combining basic BI data, data mining and statistical analysis. The result is a predictive analyst, a more complicated form of BI technology, which dares to "estimate" usually based on a general prognosis.
predictive analyst provides specific predictions based on statistics and specific results. For example, a prognosis in general business intelligence technologies can be informed by business selling sportswear that a season corresponds to the highest sales volume based on past experience. The fundamental difference with predictive analytics is the data would indicate the characteristics and behavior of customers, their specific choices and the type of marketing that would attract most of them.
real -time monitoring is one of the most important types of business intelligence technologies And is aimed at closing the gap between data collection and data analysis. One of the examples of MonItorization almost in real time is the use of ticket transport data that corresponds to passengers with the most suitable flight, bus or train. Another example is the use of emergency patients to start the fastest care of the medical staff.
6 BI technology allows individuals to make a faster and more informed decision based on high -precision statistics. Businesses that can benefit from BI technologies include businesses in financial services, healthcare, production, retail, telecommunications, transport and public services.