BI – Business intelligence, by the definition found in the English version of Wikipedia, is a set of theories, methodologies, architecture, and technologies that transform the nakedness, i.e. rough data into useful data that makes sense for business purposes.
This definition sounds to me pretty rougate and without too much sense. I would like to explain it this way:
In the name of Business Intelligence, there is an explanation of what BI is. We all know what the job means, and “intelligence” would translate it as “intelligence” for this occasion. Combined, that would mean: business intelligence! Right! BI is, therefore, an analytical skill that, first of all, through the collection of data, the use of different data sources, and then using advanced techniques and methods of data intrusion, creates developed models, i.e. Data schemas from which you receive extremely useful reports.
From this, it can be concluded that BI has the greatest application in the financial statements, which is not far from the truth. However, BI has an exceptional application in all spheres of life in which statistics come into the report.
According to Lord Myers, BI is “one version of the truth,” this fact confirmed the example that at a quarterly meeting of the company’s management board, the sales manager reported a meeting that the company made a profit of 5% in the previous quarter, while the marketing director stated that realized sales growth, but not 5, but 3%. The rest of the meeting was held in the mutual assurance of the director whose report was more accurate. How is it possible at all for these two directors to have different data? Is it wrong to “map” data or is it a different source of data? Do today’s business world and way of doing business allow themselves to have such failures? It is at this point that BI comes into force!
BI consists of 3 segments:
DATA ACQUISITION – collecting relevant data from different sources;
DATA MODELING – forming an adequate data folder needed for a specific purpose;
DATA VISUALISATION – Presentation of collected data crossed and formatted by the established model.
BI will, therefore, acquire the existing data from various sources, which, through the previously defined model, crosses, merges and combines to present the requested report as a result. The reports thus created are not standard reports that can be obtained from standard applications, which already have a set of reports previously defined according to management requirements.
This data modeling gives the BI a very important function, which is data optimization. Very often, due to the creation of special data models, there is optimization of bulky databases, because, for example, by crossing multiple databases, certain data is repeated, or some data may be conditionally and, if necessary, created from a “data” model, so it does not need to be permanently stored in a table.
BI professionals are generally exceptional database connoisseurs, i.e. great database designers, but IT experts do not have to be excellent, but only excellent IT users.
BI, therefore, is not a product, a piece of hardware, or some special software, but a way of presenting existing data. However, for dealing with BI, some tools are required, and Microsoft obviously recognized the power of BI in time and prepared a set of tools called “Power BI”.
More specifically, many Microsoft products, most SQL, SharePoint Portal, and Office packages, can be used to deal with BI. The first two are indirect tools, and when it comes to the Office package, Microsoft has developed a special plug-in that is installed on this package. For the latter, the so-called desktop version of “Microsoft Office 2013 Professional Plus” and the cloud version of “Microsoft Office 365 Pro PLUS”. In particular, these are add-ons called Power Query, Power Pivot, Power View and Power Map. It’s a really advanced set of tools upgraded to a Microsoft Excel application, wherein a special “tab” you are calling these options. All tools are really greatly designed, from Power Query to Power Map, which really phenomenal geolocation visualizes the prepared data. For more information, visit the official website: www.powerbi.com. Although they made an excellent set of tools, I think that this American giant will deal more with the issue in the months to come.