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One of the main successful business components is Business Intelligence. Data amount generated by companies reaches colossal marks. Almost every company deals with Big Data. Modern technological advances have made it possible to efficiently store and process data to develop new ideas and make decisions.

Despite this, there is a gap between data storage and usage. Small and large businesses possessing a huge amount of data, but effectively use only a small part of it in their business activities. Business Intelligence can help bridge this gap. The need for real-time data processing is constantly increasing. This has led to the emergence of a large number of BI techniques, making data and analytics more accessible to business users.

BI tools help to analyze data, make decisions, understand trends, and identify patterns. At the moment, there are a large number of Business Intelligence methods. Let’s consider the main:

• OLAP (interactive analytical processing)

Data processing technology, with the help of which summary information is prepared on the basis of large data arrays structured according to the multidimensional principle. OLAP is an essential BI method for solving analytical problems with different dimensions. Due to its multidimensional nature, this technology enables business users to see data from different perspectives. This, in turn, reveals hidden problems in the processes. OLAP is mainly used for the following tasks: budget planning, financial forecasting, CRM data analysis.

• Data visualization

Data is often stored as numbers combined into a matrix. Interpreting the matrix is ​​a major challenge for making informed decisions. Data visualization in the form of charts and tables is an easy and convenient way for analysts and other business users to view data from different angles and make decisions.

• Data Mining

This method is the process of analyzing large data amounts to discover hidden and meaningful patterns and data relationships. Corporate storage contains a huge amount of data. An important challenge is identifying relevant data to support effective business decision making.

• Reporting

It is processes set of design, planning, production, sales, approval and preservation of information content. This technology helps companies collect and provide necessary information to succeed in business. Depending on their needs, users can view reports at daily, weekly or monthly intervals.

• Analytics

Analytics is the main tool for any business. With this tool, analysts and business users can deeply understand the data, correctly interpret it and extract value. Analytics are applicable to any area. For example, call centers use speech analytics to track customer sentiment to improve customer service.

• Multi-cloud

The method allows to deploy an IT structure using multiple providers and platforms. The emergence of a pandemic has affected the normal rhythm of many companies. Most businesses have had to move their work to the cloud. This led to the development of cloud computing.

• ETL (Extract, Transform, Load)

The main process in managing data warehouses, which includes 3 main stages: extracting data from various sources, transformation according to user needs and loading into the data warehouse.

• Statistical analysis

Through mathematical methods of statistical analysis, it is possible to reveal the meaning and reliability of data relationships, as well as to identify changes in human behavior that are reflected in the data.