The continuous data growth that currently exists in the digital world makes business intelligence tools more sophisticated. BI includes various applications, tools, and processes that are used to analyze and present data. It improves decision making process. The long-run objective of using BI can be different: to increase revenue, increase operational efficiency, improve customer satisfaction, and so on. There are different scenarios for using BI depending on data type and business goals. This approach will help to achieve and maintain a competitive advantage in a dynamic market development. Regardless of a company size and its field of activity, the main BI goal is to provide complete and reliable data for making informed and effective decisions in order to improve overall performance.
Data Management is a subset of BI and includes many different applications. Data management includes the processes of collecting data, ensuring its accuracy, integrating different data types, and managing data based on business objectives. Efficient data management is a key component to the success of any BI solution.
The conceptual origin of BI occurred in the 1950s. Now this tool is widely used not only by large corporations. Now, there are many startups that are also BI users. BI solution providers quickly understood this and quickly modified their software to better satisfy the consumer.
It is worth noting that the BI professional tool, however, is no longer too difficult to use. The advent of the cloud and SaaS has transformed Business Intelligence into more accessible software. Also, thanks to the development of SaaS and cloud technologies, BI tools and data management have become more practical and accessible to end users.
Data management has a significant advantage for BI. The development, modification and sophistication of BI tools depends on the continuous growth of data flow in today’s digital world. This makes it easy to model and work with data, which in turn gives the organization a competitive edge.