More data has been created in the last decade than in the entire previous history of mankind. And that includes business data, which has grown exponentially in recent years. That's why terms such as data usability and business intelligence are increasingly used in the context of successful business.
Data utilization potential
Data in itself has little value. Therefore, it is not the data itself that is valuable, but the activities associated with its processing. It is estimated that less than 0.5% of all data generated is actually analyzed and used. The main reason is the ineffective data management. Quality processed and analyzed data is important for meeting business goals, monitoring them, and predicting business opportunities and risks. An important aspect is business intelligence (BI), which combines business analytics, data mining, data visualization, data tools, infrastructure and best practices to help organizations make data-driven decisions.
Data utilization, Business Intelligence and their benefits
How effectively you use the data available to you, how you analyze and evaluate it, can be the most important aspect that determines whether your company stagnates and struggles to survive in the future or grows and expands.
Data warehouses (DWH) - assumption of data utilization
A data warehouse is a central repository for data that can then be analyzed and used to make more informed decisions. Data flows into the data warehouse from transactional systems, relational databases, and other sources. Business intelligence tools are used to access this data. Data warehouses enable companies to analyze and derive significant value from large volumes of disparate data and preserve historical records.
Data driven business
Digitization has produced massive amounts of data, forcing all companies to become more data-driven than ever before. The benefits of a data-driven enterprise are obvious (organizational agility, improved business performance, higher profitability, stronger innovation). However, there are technical and business challenges that must be overcome to become a successful data-driven business. We have experience implementing business intelligence tools in large business processes and providing data utilization consulting. Choose a partner who can successfully guide you on the path to digital transformation.