business intelligence

Dasboard as an effective business tool

There are many BI tools that provide the transformation of business information into a form ready for business analysis. One such tool is the dashboard.

Dashboard is a BI tool that allows to track, analyze and report on all business performance metrics. Such a panel usually provides data visualization in the form of charts, graphs and maps. The simple and clear information presentation helps users understand it, share with other users, and work together on it. Dashboards also make it easy to connect data from many different sources. This allows users to explore and analyze data in one place.

BI-dashboard benefits:

The main stages of dashboard creation:

  1. Data integration. The first step is to collect the raw data and transform it into analytics-ready information. The process of data transformation involves the connection of data from various sources and replication, various data types transformation into standardized formats.
  2. Goal definition. For the correct dashboard creation, it is necessary to clearly define the business goal, to define what exactly needs to be analyzed, researched and optimized. The goal may be to enter new markets, optimize some business processes, determine the priority stage of the marketing funnel etc.
  3. Simple and clear visualization. The data history should be transparent and understandable. It is important to identify key performance indicators and dependency, and choose graphs, charts, and maps that most accurately visualize this.
  4. Research and collaboration. Self-service provides business users with possibility to organize their own information investigation, draw conclusions and find new solutions. Modern BI tools that offer an associative engine allow to define all dependencies and not be limited to linear queries.
  5. AI usage. Modern dashboards offer advanced analytics capabilities, that uses AI and machine learning. The tools enhance users’ intuition and suggest new ideas.

DataLabs is a Qlik Certified Partner. A high level of team competence and an individual approach allows to find a solution in any situation. You can get additional information by filling out the form at the link

More possibilities with Qlik Mobile

One of the main conditions for a successful business is mobility. Business executives and other professionals rely almost entirely on mobile devices to get information here and now. Mobile applications usage in operational activities allows to receive the necessary information immediately and make decisions. In turn, this allows to gain and maintain a competitive advantage in the information economy.

Qlik Sense is mobile-friendly and provides a complete mobile experience with a responsive design. SaaS users can also use the app for iOS and Android. This application further expands the customer experience and user capabilities. The application provides an improved user interface, fully interactive online and offline analysis. Qlik Sense Mobile for SaaS also has push notifications. With these notifications, users are aware of important changes to their data and can respond to them in real time. Qlik pays special attention to security issues. The application provides best-in-class security and data, application and user management.

Qlik Sense mobile app is available for download on your device from the Apple App Store and Google Play. With this application, users can manage the actions at the moment of making a decision.

DataLabs is a Qlik Certified Partner. A high level of team competence and an individual approach allows to find a solution in any situation. You can get additional information by filling out the form at the link

How to get started with data?

Data has become one of the most important business assets for any size and activity company. At the moment, there are many data use cases. However, each company must choose its own option that will bring the greatest benefit. To be successful today all companies regardless of size or industry must have a data strategy. It is important to understand exactly what data is needed to achieve goals and improve business results.

With so many potential data use cases it’s easy to get confused. But the task of choosing a scenario should not be left to chance. Below are some tips to help leaders prioritize and create an effective enterprise data strategy.

  1. Brainstorm

First of all, it is necessary to outline the desired result: «What exactly does the business want to achieve?», «What are the key business tasks and goals?.

There are 4 main uses for data:

  1. Detailing use cases

Every data project that has been brainstormed needs to be drilled down:

  1. Define the use case

Having passed the previous stages, it is necessary to determine the most suitable for a particular business. This approach will identify data priorities, cross-cutting issues, requirements and goals. You should start with the current business strategy, the most significant challenges and opportunities. Depending on the ambition and scale of the data processing strategy, it is necessary to choose from 1 to 5 use cases. They will also be the most strategic and long-term ones.

After that, it is worth identifying 1 – 3 «quick goals» that can be achieved quickly and can show value. A quick result will demonstrate the effectiveness of the data processing strategy and allow to get team members’ support.

Mobile Business Intelligence empowers business

One of the main conditions for a successful business today is the correct work with data. Effective business activity largely depends on the speed of decision-making. It is possible to make an informed decision quickly due to certain data manipulations. That’s why it is important that the data is available in real time anytime and anywhere.

Mobile Business Intelligence involves the provision of data analytics and data analysis services to mobile, portable devices and remote users. The tool works in the same way as a standard BI software solution and allows users with limited computing capabilities to use the same functions and processes.

Modern companies are no longer limited to the walls of a physical office. Mobile and portable devices development has made it possible to organize an «office» anywhere: a cafe, an airport, another city or country. Businesses are becoming more agile. Mobile BI implementing is a logical step. Among other  things the purpose of such tool introducing is obtaining a competitive advantage.

Benefits of Mobile business intelligence

  1. Making effective business decisions

Mobile BI solutions are built to support mobile communication. It has built-in messaging functionality. Also, some tools are equipped with complex mechanisms that allow to transfer rich information content (voice, image, video). These features provide managers with the opportunity to collaborate and discuss during the analysis process, to receive complete information for making informed decisions.

  1. Access to data in real time

A valuable mobile BI benefit is having corporate information here and now. User capabilities are not limited to one computer. Data can be accessed on a personal mobile device anytime and anywhere. This access to information improves the overall performance of business operations.

  1. Customizable and structured analytics

Each company is an individual, that has its own preferences and requirements for data analysis (to the process, visualization, integration with other tools, etc.). Mobile BI solutions are built to be customized. With the ability to apply customizations, executives and other business users can effectively analyze data, draw conclusions, and come up with new solutions and insights.

Mobile BI applications usage is growing rapidly. Quick access to real-time information, flexibility, higher speed and productivity enable to grow the business, gain a competitive advantage and increase profits. Between 2021 and 2026, the Mobile Business Intelligence market is forecast to post a CAGR of 22.43%.

Business Intelligence is a tool for effective business performance

Business Intelligence is a set of methods and technologies for data collecting, processing and analyzing. BI connects business analytics, data visualization, data mining, infrastructure and data processing tools, technologies for making informed decisions. The tool allows to work with business activities data, obtain data on competitors, and determine market trends. This allows to make effective data-driven decision-making process, optimize all business processes, including customer experience and employee satisfaction improvement, ensure smooth efficient operations and increase revenue. Let’s take a look at exactly how Business Intelligence can help improve a business.

  1. Data driven decision making

Business Intelligence enables an efficient decision-making process by transforming disparate information into ready for analytics data. Access to up-to-date corporate information provides a prompt response to any events. Customer Relationship Management (CRM) solutions bridge the gap between staff and managers.

  1. Customer needs analysis

Along with active changes in the market, customers’ needs and interests are changing. Each client is looking for the best way to solve their problems. This influenced the growth in demand for embedded BI tools, in particular CRM. This system allows to study the client’s interaction process with a particular brand in real time, as well as to determine the best way to interact with a particular client. Analytical data also makes it easy to segment customers depending on their life cycle, set up individual interaction methods. This approach ensures optimal resources usage to attract new customers and maintain the current customer base. Moreover, Customer Relationship Management (CRM) solutions bridge the gap between staff and leaders.

  1. Improvement of market analysis effectiveness

Business Intelligence helps to get complete and up-to-date market information. Users have the opportunity to analyze data on shopping patterns, identify information about customers, their behavior, and predict market trends. This in turn contributes to more efficient planning of business activities.

  1. Effective business model

Working with all the data company owns, including marketing strategy, data on competitors, market, buying habits, and more allows to create a reliable and results-oriented business model.

  1. Sales strategy

To develop an individual sales strategy, it is important to study and understand information on sales volumes, annual turnover, competitors, trade policy, etc. BI tools used to study these indicators allow to plan lead cost, turnover, future growth, number of sales and develop an individual marketing plan.

  1. ROI on Marketing

Currently companies use many channels and ways to promote their product or service. BI tools provide an opportunity to calculate the ROI of a marketing initiative (email marketing, promotion in social networks, applications, Google Ads campaigns etc.) and determine the most effective marketing solutions and strategies.

  1. Mobile business intelligence

Getting up-to-date information is an important component of any modern business. Access to real-time data provides an opportunity to gain a competitive advantage. A fully integrated mobile business intelligence solution gives an access to the business information you need to make strategic decisions.

Business Intelligence Challenges in 2022

The huge data amount that modern companies own provides new opportunities for their development. But it is also a source of additional problems. The main purpose of Business Intelligence is to provide processes for collecting, processing and analyzing data. However, there are some issues that make it difficult for BI to be efficient, effective, and useful. Let’s take a look at the main Business Intelligence challenges.

  1. The problem of data integration from different source systems

The number of data sources is increasing. For a complete and correct analysis, companies need to collect data from various sources: databases, big data platforms, internal and web applications.  A fairly common option is to use a data warehouse as a central repository for business intelligence data. Using data virtualization or BI tools to integrate data without putting it in a database system is a more flexible option, but too difficult process.

  1. Data quality

The accuracy of BI applications is directly dependent on the data they are based on. The start of any BI initiatives assumes that the user has access to high quality data. However, many companies are in the pursuit of collecting as much data as possible. That’s why they don’t pay attention to the quality of the data. Moreover, they believe that problems can be solved after the data is received. The reason for this position may be users’ knowledge lack about the data management importance and necessity. It makes sense to develop a strategy for collecting the right data and a data management plan before BI technologies deployment.

  1. Data Silos with conflicting information

A common BI problem is siloed systems. Successful business intelligence requires data completeness. However, different levels of access and security settings complicate the process of necessary analytical data obtention. To achieve the desired result, it is necessary to disintegrate silos and harmonize the data. Contradictory disparate data can lead to different versions of the truth. Then business users get different results for KPIs and other indicators that are the same in different systems. To avoid this situation, it makes sense to start with some level of data modeling and precise definitions for each KPI.

  1. End-user training

It is important for the end-user to understand the purpose of introducing and using the innovation. Company executives and managers should also be actively involved in effective learning and change management initiatives related to BI projects. For a wider and faster changes implementation, it is worth developing a short and understandable user training program.

  1. Managing the process of using BI self-service tools

An uncontrolled deployment of self-service BI can lead to a chaotic data environment with disparate repositories and conflicting insights. BI tools are regularly updated. Business analysts should interact with end-users to better understand their needs and develop strategies for delivering relevant data and dashboards using off-the-shelf functionality.

  1. Low level of BI tools implementation

End-users quite often choose the simplest option and use Excel or SaaS. It is important to develop a good user scenario that will demonstrate immediate business benefits and encourage employees to use the new system before starting to deploy BI technologies.

  1. Dashboard design

Difficulties in understanding information can occur due to failures in data visualization. Dashboard and analysis can be useful when end-users can easily explore the information provided. However, the focus on data acquisition and the analytics process takes the design issue into the background. It is worth involving a UX designer to create a simple and understandable visual interface.

BI tools to improve business results

Most businesses consider Business Intelligence to be a critical tool for their current and future business strategies. According to Forbes, 54% of enterprises are adherents of this opinion. BI tools help transform company-owned data into ready analytical formats (reports, dashboards, etc.). The range of issues that business analytics helps to solve is very wide (product prioritization, supply chain optimization, workflow optimization, etc.). All BI products are designed primarily for making informed and effective decisions to optimize business activities in general.

Consider the main tools of business intelligence

SAP BusinessObjects is a flexible, scalable information infrastructure for discovering, exploring, and presenting data to make better business decisions. The key features of this system are:

Datapine is a one-stop platform for data visualization and business intelligence. The tool allows data scientists and other business users to use different data sources, perform advanced data analysis, create intuitive business dashboards, get answers and draw the right conclusions.

Microstrategy is a modern business intelligence software (integrated reporting, analytics and monitoring). The tool combines fast logical and factual capabilities to provide real-time assessment with third-party data analysis. Microstrategy also allows to process unstructured textual information, that can be further analyzed by specialists using a text analytics platform.

Qlik Sense is a data visualization, exploration and monitoring tool, business intelligence platform with in-memory associative search with built-in ETL tools. The wide functionality of the tool allows to collect data from disparate sources into a single information system. The associative data model provides the ability to explore data in any direction, understand the relationships of data and see all the relationships between them. These and other Qlik Sense features have made it one of the best and most popular BI tools. DataLabs develops custom BI solutions based on Qlik, focused on effective business management. Detailed information can be found here.

Sisense is a software BI tool that combines dynamic and powerful text analysis features. This allows users to transform text into valuable insights.

Zoho Analytics is a platform for self-service BI and data analysis, as well as internal and external information discovery. The tool allows to download, synchronize data from different sources (spreadsheets, applications, etc.), create and share dashboards and reports. Zoho Analytics offers connectors for rational databases and NoSQL databases and connects to cloud databases.

Microsoft Power BI is a set of data analysis services that allow to turn unrelated enterprise data sources (databases, data from cloud sources, the Internet, text files, Excel files) into reports, presentations and business plans. Power BI includes: Power BI Desktop – data models and reports creating); Online service Power BI (SaaS) – reports publication; Power BI Mobile – reports viewing on mobile devices and tablets.

Tableau is a BI tool for data discovery and visualization. The tool provides an easy process for analyzing, visualizing and sharing data without the help of IT specialists. Tableau belongs to the «self-service» category, providing all the opportunities for users to work independently.

Oracle BI is a business intelligence software product (interactive and published reports, KPI monitoring, business process monitoring). The platform supports different data sources and combines data from these sources in one report.

Business Intelligence and Business Analytics Trends in 2022

Data is an indispensable tool for modern business. It is used everywhere in business: from supporting the decision-making process itself to upgrade and improve products and services. 2021 has been a year of intriguing advancements in Business Intelligence and data analytics. The goal was to provide companies with a custom solution based on different technological approaches to make the most of their data. Given the dynamic pace of development in this area, new solutions can be expected in 2022. Consider the main trends in the development of Business Intelligence and data analysis.

  1. Data Factory and Hybrid Cloud

The Data Fabric is a cohesive, conceptual information management architecture that provides complete and flexible access to work with it. Data factories feature is the use of the approach and tools of Artificial Intelligence, Big Data and machine learning in order to organize optimal data management algorithms.

The latest development from Qlik is an example of such a concept. Qlik Forts is designed to connect all data regardless of its location in the cloud. Companies using a variety of private and public cloud platforms have the ability to easily connect and leverage all of the data for an efficient workflow. Moreover, the data is available for analysis to the user from anywhere in the world. In 2022, the development and bringing of analytical solutions to a new level.

  1. Automation and Machine Learning

Nowadays, most of the commonly used machine learning algorithms perform their functions well and smoothly. Specialists, in turn, are trying to improve developments and make them even smaller, faster and more efficient. The next year will be devoted to platforms and tools development that can be used by any user to automate any task.

  1. Small data

To solve the scaling problem mentioned in the previous point, it’s worth starting by changing AI and machine learning goal. It is advisable to process only the most important data, in other words, go to small data. However, this does not mean that big data is losing its value – it will always be needed. We can already see the success of implementing the «small data» approach in self-driving cars to quickly respond to potential road accidents. In 2022, we can expect new ideas emergence with the effective use of small data.

  1. From SaaS to iPaaS

One of the trends next year will be SaaS (software as a service). However, in 2022 there will be some changes, namely iPaaS. The tool is a cloud-based solution with the ability to easily scale and integrate large data amounts. Gartner defines iPaaS as a cloud services set that enable the development, execution and maintenance of integration flows that connect any combination of on-premises and cloud services, processes, applications, and data within one or more organizations. The goal of every company is to avoid data loss and information silos across departments and platforms. Therefore, a breakthrough in this area is expected next year.

  1. Planning and forecasting

Back in 2020, the predictive and prescriptive analytics market was projected to grow by 20% over 5 years. Now analytics is becoming more accessible to users. With the help of Qlik BI platforms, it is possible to easily integrate predictive analytics into CRM, ERP, etc. In 2022 and beyond, this area will actively develop.

  1. Information literacy

The final item on the trend list is information literacy. Knowledge is essential for the implementation and correct use of all technologies and innovations. Otherwise, all progress will be meaningless. Modern companies that strive for dynamic development should think about quality training for their team. End users require particular attention, as they often make data-driven decisions.

Business Intelligence vs Business Analytics

Business Intelligence and Business Analytics are the indispensable and most common tools of modern business to optimize workflows. To understand how each tool can benefit, let’s figure out the definitions.

Business Intelligence is the process of collecting, storing and examining data owned by a company to ensure smooth operations. BI includes various tools and software: spreadsheets, reporting system, monitoring software, data mining software, event management, online processing, dashboard development, etc. BI provides the ability to interpret big data, identify new opportunities and implement new development strategies. The ability to combine internal and external data is the BI advantage. This provides a clear current situation vision and understanding, that cannot be obtained using single data. Incorporating BI into the workflow helps organizations understand the business, market, customer needs and behavior.

Business Analytics is a statistical technology using quantitative methods for obtaining information, forecasting defects, and developing strategies. BA tools: predictive analysis, forecasting analysis, data aggregation, association and sequences identification, correlation analysis, factor analysis, data visualization, growth analysis, optimization, etc. BA usage involves the involvement of data processing specialists, as well as an additional specialized training. The decision-making process with BA occurs through numerical analysis methods (predictive modeling, analytical modeling, explanatory modeling).

What is the difference between Business Intelligence and Business Analytics?

  1. The main focus of BI is the analysis of historical and current data. BI provides a process for analyzing / comparing past events, the current situation and business development over a certain period. Using this tool it is possible to find the cause of the problem and determine the necessary actions to fix it. The main focus of BA is predicting future results. Using this tool it is possible to determine the consequences of an unresolved problem in the future, possible strategies and predict the results.
  2. BI works with past and current data to determine business needs. BA works only with past data to predict business needs, customer needs and drive productivity.
  3. The task of BI is to provide a vision of current business operations, information on current trends and customer interests. The task of BA is to provide information on changes in business operations, increased productivity, future customer needs.
  4. Basic BI tools: Qlik Sense, SAP Business Objects, TIBCO, PowerBI, etc. BA tools: Word processing, Google documents, MS Office tools, MS Visio, spreadsheets, etc.
  5. BI is a tool mainly for large companies whose goal is to ensure smooth running of business. BA is a tool for small companies to develop business, improve efficiency and achieve goals.
  6. BI uses more User Interface Dashboards for analysis and carrying out operations, BA uses more tools and software applications.
  7. BI methods and technologies for data analysis: reporting, real-time analytics, dashboards, online analytical processing, etc. BA methods: predictive modeling, data modeling, requirements modeling, SWOT analysis, etc.

BI and BA perform different tasks and roles in the business optimization process. However, both tools are an important and integral part of operational activities for better understanding the business, ensuring an efficient decision-making process, optimizing business processes, predicting trends and gaining a competitive advantage.

Top 10 advanced technologies that affect business

Now the world is going through the 4th industrial revolution, the main engines of which are data, Artificial Intelligence and the Internet of things. As a result, the surrounding world is transformed into one large information system. In addition to the large number of technologies that are involved in this revolution, an important condition for progress is the different ways all these technologies interacting. Technologies development continues and it will affect every field of activity and company anyway.

Let’s take a look at 10 major technology trends that have an impact on a company’s success.

  1. Ubiquitous computing

Today, a mid-range smartphone is more powerful than a super-powerful computer 10 years ago, microchips have become smaller, devices are smaller, lighter and more powerful. Computing advances in the future will come from software and algorithms, quantum computing, new forms of digital storage (like DNA storage).

  1. Connections

At the moment, the Internet of Things (IoT) is developing very actively. This gives the impression that each device can connect to the Internet as well as collect and transmit data. According to the forecast by 2030, there will be at least 50 billion IoT devices installed in the world. This ability to connect places and things to the Internet can change many areas (education, manufacturing, medicine, etc.). Working with IoT data opens a unique understanding of the real actions of the client and employee.

  1. World datafication

People generate huge data amounts every day without even thinking about it. Almost every human action leaves behind a digital footprint. This contributed to the data storage methods development. The challenge for companies is to ensure that information assets are properly protected and confidential. Business data can serve as the main source for an improved product or service creating, business processes optimizing, etc. However, this requires a strategy for transforming data into analytic data. Artificial Intelligence can become an important tool for improving data literacy.

  1. Artificial Intelligence

AI development is very dynamic that allows modern machines to perform different tasks instead of humans. AI can also improve internal business processes by automating or helping specialists perform specific tasks, as well as in the decision-making process.

  1. Augmented reality

Augmented reality (XR) is an umbrella term that includes a range of immersive technologies (virtual, mixed, augmented reality).

  1. Trust in digital technology

Digital trust is the trust that users place in organizations in building a secure digital world. Each user must be confident in the security, reliability and ease of transactions or other interactions.

  1. 3D printing

3D printing provides an opportunity to redefine the way things are made. Manufacturers also get another way of making a product in an unconventional way. This allows them to streamline their manufacturing process, create custom products, and cut costs and waste.

  1. Genome editing and synthetic biology

Uncovering genetic mysteries will help to find new ways to understand and control them. Gene editing techniques such as CRISPR can make significant advances in the fight against various diseases, improve the vitality of plants, and produce new synthetic substances, that can replace fossil fuels, plastics, animal products.

  1. Nanotechnology and materials science

Nanotechnology means controlling matter on a tiny scale (atomic and molecular). Nanotechnology can be used to manage and improve products and components.

  1. New energy solutions

Renewable energy sources (wind, solar) have now become more efficient and affordable. In the future, there are 2 new energy sources – green hydrogen and nuclear fusion. New sources can be an important, safe and environmentally friendly solution to energy needs.

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