Wikipedia defines big data as “a collection of data sets so large and complex that it becomes difficult to process using on-hand database management tools or traditional data processing applications. The challenges include capture, storage, search, sharing, analysis and visualization.”
Infographic source: Kissmetrics.com
Infographic source: Kissmetrics.com
Companies have spent many years building enterprise data warehouses and using business intelligence (BI) tools to report on the business. But predictive analytics is different. Advanced statistical, data mining, and machine learning algorithms dig deeper to find patterns that traditional BI tools may not reveal.
It's a fact that mobile users today carry mobile devices everywhere they go. They are already using their phones to redeem coupons, research products, or pay for things online and offline. This became something completely normal.
With mobile, it's now feasible to track an individual from the very first intention to shop for an item, to the actual purchase at point-of-sale. This is something very important.
Cloud computing provided to companies a new way to improve the effectiveness of business processes and the outcomes of their efforts.
In the last five years more and more companies have embraced the practice of renting access to the applications and technology they need when they need them. No matter is it about marketing, customer service, human resources, sales or finance.
Mobile business intelligence (BI) represents the ability to access business-critical information on any mobile device, such as a smartphone or tablet. Due to massive improvements to mobile technology in the past few years, the idea of mobile BI just recently became interesting.
Mobile BI offers a lot of advantages for companies. Accessing business-critical data whenever you want is the most important advantage here. Unlike traditional BI tools, mobile BI is accessible outside company servers (or within). This means that anytime you need a view of your business, it's in the palm of your hands. Having access to this information can be the difference between capitalizing on a new opportunity before the competition, or meeting a challenge before it becomes a crisis.
Smart companies are trying to pursue every available opportunity to maximize
their performance and minimize costs. That's why, business intelligence tools are used to analyze data, identify trends, and support business decisions, etc.
Beside traditional BI solutions, one of a new growing trends is definitely Cloud BI. Cloud BI solutions are also known as Software-as-a-Service or On-demand solutions. They offer a timely and cost-effective resource for businesses of all sizes, in order to maximize their business potential while minimizing costs.
When you need to select a business intelligence product, it’s important to consider lots of factors.
At first place, specific product features like ease of use, ease of implementation and administration,
scalability, user-interface options, and how well it integrates into your company’s
existing and future platform environment.
Among the most important of these considerations are:
Business intelligence allows organizations to better understand, analyze, and even predict what’s occurring in the overall environment and in their company. BI helps your organization turn data into useful and meaningful information which you can distribute to those who need it, when they need it, wherever they need it, so that they can make timely and better informed decisions.
It allows organizations to combine data from a wide variety of sources and see an integrated, up-to-date, 360-degree view.
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