BIG DATA ANALYTICS AND BUSINESS INTELLIGENCE.
Introduction
Business intelligence is a new technology that has revolutionized how business is taking place. The technology and techniques involved in business for the assessment of information data. Business intelligence works in an interactive way where it summarizes and centralizes data using both data analysis and data analytical techniques. With the business environment changing, customer dynamics are also changing and every company is competing for the question of why instead of how and who. However, with the power of business intelligence, big data analytics, and big data it has helped in transforming how business is done. BI is not only about one concept but a sum of integrated concepts that includes social media, customer segmentation, and customer behavior (Popovič, Puklavec & Oliveira, 2019). The challenge that befalls BI in its operation is during the centralization of the different enterprise information data and various data sourced to a single unique unified data storeroom where data analytics takes place. There exist several approaches in business intelligence that big data is analyzed. Analysis of big data is now a critical part of many businesses. This helps businesses to separate themselves from normalcy to something very unique ability to raise revenues for themselves.
Companies are offered recommendations and suggestions via predictive analytics by the use of big data analytics. With characteristics of high performance effective and efficient analytical systems big data analytics offer business companies a lot of benefits these include, efficient marketing through improved visibility on sales information which helps improve marketing campaigns, new opportunities for more revenue and also reduce the cost thus creating business value and increasing profits, it creates great customer relationships through improved feedback and helping companies to fit the emerging trends (Alpar & Schulz, 2016). Offering an economic advantage over other players in the industry by providing the company with real-time information all the time and this information can be used to make overcast and predictions and finally improving the operating efficiency in a company through improved decision making by making it easier and faster. Predictive modelers, Statisticians, and data analysts are offered a working platform by Big analytics software to be able to organize transactions, analyze amounts, and also to work through untapped data. this includes a semi-structured and unstructured set of data.
Rights and wrongs
There exist key aspects in big data analytics that indicate a company is doing right these include; focusing on the goal where big data see collective outcomes through data breakdown to show an individual behavior towards a better result. The process begins with the identification of the individual and KPIs who are accountable to every status and assign them work of assessing the development of a particular indicator. Big data contains information that is considered relevant to all divisions and departments and this provides the development of an actionable plan (Popovič, Puklavec & Oliveira, 2019). Those users who feel the need to have the real value from the analysis of data should the users make important strategic changes and this should be done to solve the problems and not too daunting or generic.
The use of small data offers its users with real-time tailored data that will help in quick identification of patterns and also respond to them appropriately (Trieu, 2017). The preference of the user to compare the past and the current or even use the past data he can still use the small data. the small data is prepared and presented in a way that can be directly utilized or a user-friendly format. For the big data, it is often strategic and tailored for the decision-makers and also to the employees responsible for a particular result. The employees are allowed to use the reports that have relevant and straight forward information immediately.
However, companies are doing it wrong when it comes to how they handle data. given the benefits of using big data and its implementation in its current system, companies have a tendency to start realizing the expensive nature of data solutions such as the maintaining and purchasing of the elements and also the human resources and time used (Popovič, Puklavec & Oliveira, 2019). This is a wrong perception since the benefits out-do the expenses. Incorporating the new system to the company management information is deemed as a difficult task. However, generating this data by the IT staff and also data coming from other sources during the handling of data it will end-up complicated. There exist privacy problems when it comes to dealing with data protection when operations are ongoing. Data protection is very critical to the survival of the company and it should not be overlooked instead data should be backed up with passwords and encryption.
Maintenance Improvement
To be successful in the implementation of business intelligence. The implementation of advanced data analytics offers companies to enhance ROI analytics by predicting activities, future events, and guaranteeing companies that the system will be stable for the upcoming threats and risks. The elimination of what-if examination to predicting the effects of developments that can alter business insights. Predictive assessments are also carried out to know the network barriers existing in the supply chain. Predictive analytics, big data analytics, and data mining are utilized by a business assistant to ascertain the extent of finance marketing and risk management (Alpar & Schulz, 2016). The maintenance requirements and activities are known during the implementation. The complementary characteristics of the Business intelligence models offer companies with an extra advantage of giving a deeper and greater understanding of Big Data.
The overall importance of any business company is that it provides a way for structured client experience and best utilization of Big Data. Maintenance should be a necessary part of the company in reconstructing a system and unit condition that is necessary for fulfilling the planned purpose. Maintain ace should be conducted often to minimize and reduce the associated costs and number of incidents. Companies should embrace the use and implementation of Business intelligence in their daily operation.
References
Alpar, P., & Schulz, M. (2016). Self-service business intelligence. Business & Information Systems Engineering, 58(2), 151-155.
Popovič, A., Puklavec, B., & Oliveira, T. (2019). Justifying business intelligence systems adoption in SMEs. Industrial Management & Data Systems.
Trieu, V. H. (2017). Getting value from Business Intelligence systems: A review and research agenda. Decision Support Systems, 93, 111-124.