Business Intelligence (BI) is the ability to transform data into information and information into knowledge, so as to optimize the business decision-making process. There are different forecasting methods that focus on varying time scales and use different methods of analyzing market data. Despite being a technological invention, Big Data Analytics is an art that handled correctly can drive your business to success. It also increases your control over data and such decisions are applicable to all type of industries.
There are clear and tangible benefits for organizations that embrace root cause analysis as a process of continual improvement. Such tools examine and prepare data for use to make important decisions. A data warehouse is one large data store for the business in concern which has integrated, time variant, non volatile collection of data in support of management’s decision making process.
An entire organization must commit to gathering customer data from a number of different sources, including customer complaints data, and logging it in a complaints management solution. This information will then allow the appropriate decision makers to determine the next step an organization or business must take to remain one step ahead of the competition.
People who wish to attend the certification program need to pass the Certified Business Analysis Professional (CBAP) application process. This program will allow you together in a discipline that effectively integrates business strategy, technology and processes to transform scattered data into knowledge and effective processes.
The method needs to be calibrated, according to the nature of a business, to yield better predictive sales data. The options for implementing employee evaluations are the same as for any BI implementation and are covered in my article “Business Intelligence – Project Management Tips”.