Business Intelligence Skills
Business intelligence skills are essential for most business and marketing professionals. Although business intelligence (BI) skills are useful for all, they are often required to manage a data warehouse, perform data mining, or create spreadsheets to analyze data using Excel.
When the term BI is used to identify what people are using in an organization today, there are a variety of approaches that are often grouped together, such as;
- Data mining (a data analysis approach to uncovering and learning new information about data stored in computers).
- Data warehousing (an information management methodology for storing and analyzing data).
- Business intelligence (an information management methodology used by decision-makers and analysts to improve their understanding of an organization).
- Decision support (the use of computer technology to support decisions in an organization).
The terms data mining, data warehousing, and business intelligence have been used synonymously in the past. They can be contrasted as follows:
Decision support systems (DSS) is an earlier name for business intelligence, which has gradually fallen into disuse as the focus on end-users of BI systems increased. As such, DSS is becoming synonymous with DSI (Decision Support Infrastructure).
Business Intelligence is information derived from an organization’s data assets to help that organization’s managers run and improve the business. It is often considered part of the overall Information Management approach.
The primary objective of business intelligence is analytics. BI is about analyzing data to understand user needs and then presenting that information to them in an easily accessible form.
BI typically requires several skills, including reporting, data analysis, database systems, and computer programming.
BI is commonly employed in many business and governmental applications ranging from recordkeeping to asset management and from human resources to enterprise resource planning (ERP). It is also used in medical applications and in many other fields.
Business Intelligence Tools
Business intelligence tools and services are essential and help bring together the information needed to monitor and optimize financial performance.
For instance, business intelligence will allow the end-user to analyze data, leading to business insights and business decisions. Business intelligence tools like Business intelligence tools provide the end-user with more information about the financial performance and allow them to get a competitive advantage.
The main difference between business intelligence and data skills is the focus on the end-users. For instance, data skills help bring together the information to have the end-user perform well in the organizations.
However, business intelligence brings this information to the end-user in order to help them perform better. This is because business intelligence tools are not.
Business Analytics Skills
Business intelligence or business analytics (BI) is a management discipline that analyzes and improves the use of information from various channels, such as business, customer, production, and finance.
The focus is on improving an organization’s capability to make better decisions for effective management and business operations. BI is often associated with the use of business intelligence tools and techniques, which help managers improve data quality and analytics to identify areas that could be improved.
When the term BI is used to identify what people are using in an organization today, there are a variety of approaches that are often grouped together, such as data mining (a data analysis approach to uncovering and learning new information about data stored in computers), data warehousing (an information management.