The business intelligence solutions will be a profit partner of organizations, according to bi_Survey analyzed over 2500 projects.There is a requirement for quicker decision-making in an environment of rising complexity and data overload .
Organizations now have access to data-driven tools and methods that enable them to learn more about their clients and themselves than ever before. Still, not everyone is taking advantage of them.
And, if you’ve ever wondered how various enterprises optimized their operations towards a success trajectory.
In this article, I’ll talk about what are the challenges of various sectors? How BI solutions solve their business pain points? What are the top BI tools and their notable features?
What is BI?
Business intelligence is a set of methodologies and technologies to transform raw data into actionable insights that enable the organization’s more effective strategic and tactical business decisions.
Let’s see how BI becomes a successful partner for various business sectors ?
1) Food and Drinking sector:
Company: Hello Fresh
Category: Food and Drinking
Problem: Digital reporting was time-intensive, manual and inefficient.
Centralized BI solution almost saved 10-20 work hours/day of the marketing analytics team by automating the reporting process.And empowers the marketing team to craft regional and individualized target digital campaigns.
Reports turn to Strength:
- Creates personas to guide its efforts.
- Analyze customer behaviour and optimize marketing campaigns with tracking real time data.
- Increasing Conversion Rate
- More Customer Retention
2) Travel and Transport Sector:
Company: Heathrow Airport
Category: Travel and Transportation
Problem: Unhappy Customers with their Services
Solution: Be prepared with required services by tracking movements of their passengers traffic on the power bi dashboard that make them reconstruct the travel experience.
Reports turn strength:
- Tracking real time operational data that keep passengers moving smoothly when adverse situations like cancelled flights,stormy weather and other disruptions.
- Managing their resources (Immigration,Customs,Baggage and handling food services) with pre-passenger data insights.
- More customer retention
- More returns
3) Health and insurance sector:
Category: Health services
Problem: Unhappy patients with expenditure
Solution: Cigna’s analytics team easily studies their customer ,financial transactions and other data reports with tableau that makes them contribute more useful and affordable approaches.
Reports turn to strength:
- Actionable Insights: Cigna data analysts easily study their medical trends & cost patterns. These insights enable data analysts to enhance care and create cost gains for their patients.
- Reporting suite: Tableau listing suite can identify possibly avoidable difficulties related to specified methods and the appearance rate. Thus focusing efforts on the best possibilities to enhance outcomes and avoid further complication costs.
- Saved $145M in total medical cost to-date with annual per-patient savings of $120.
- Top-performing Collaborative Care participants save 3% in medical costs
So far, we have gone through how BI acted as troubleshooters of different sectors.
Now we are gonna look into top trending BI tools in the market.
According to gartner and other official resources I have compiled a list of top BI tools that transform Business in 2021.
#1. Power BI:
Consistently, for many years Microsoft Power BI tools topped the list. Many companies today data models of power bi utilized in several ways, including telling stories with charts, presenting custom calculations into power bi visualization.
Although the data allows us to make qualitative decision making, there is a risk of accidental oversharing or misuse of business-sensitive information. To protect the customers from threats, Microsoft comes with top-class security capabilities.
About 3500 Security researchers, along with Experienced AI Models, act as an unauthorized-Wall against 6.5 trillion signals globally.
Are you excited to know about new Microsoft Power BI protection capabilities?
Yes, let me give you some more insights
- Empower security administrators: Data protection reports & security investigation potentials help to empower security administrators and minimize their efforts.
- Organizations monitor and protect user data: Session monitoring, alerts, and risk remediation are other features allowed to monitor and protect users’ sensitive data in real-time.
According to enlyft, most Tableau used companies that generated 1M-10M dollars in revenue with 50-200 employees.
Rosario gauna,ZEN Master shares his experience “Tables are essential to our everyday analysis in Administration and Finance. Now we can see detail with more than 16 columns and with horizontal scroll, we will be able to understand our tables much better directly in Tableau, without the need to export the data. We are delighted!”
Why is Tableau one of the best choices for the organization?
- Quick and Interactive Visualization: Organizations analyze key data and share essential insights with this simple drag and drop feature.
- Easy to Use: Creating rich visualization in just a fraction of seconds compared with other BI tools. It enables you to perform complex tasks along with simple drag and drop functionality.
- Handles Copious amount of data: Do you need 100 columns or all the records for the past 10years? Without impacting the performance of the dashboards, it can manage millions of row data.
- Mobile-friendly Dashboard: You can view and operate the Tableau dashboard on several devices such as a mobile, laptop, or even a tablet! And need not do any additional tasks.
#3. Qlik Sense:
Qlik Sense spotted a No.1 position in 11 categories of BI– including “Data preparation,Business Value and Customer Experience.”
“The best visual analytics software right now. No other tool makes it so easy to find hidden insights and answer questions that you didn’t even know you had.” – BI/Analytics Project Manager for > 2,500 employee Oil, Gas and Mining organization.
Notable features of Qlik Sense:
- Associative Data Engine: Associative Data Engine is one of the key business insights to provide relationships between items and the data we have selected.
- Storytelling feature: The feature enables you to share and communicate data logically and narratively that can be comprehended even by non-technical people.
- Build dashboards on ad-hoc data sources: Simplifying data sources’ accessibility, even end-users could Import ad-hoc data sources to their dashboard.
This article describes how business intelligence tools will transform business in 2021. There is no doubt that nothing will substitute with business intelligence in decision making. In future Business Intelligence becomes much more automated and will aggressively be utilized with fewer bottlenecks in terms of data flow and interface limitations.