Business Potential

Businesses collect data at an exceptional rate in this newfound age of connectivity. This data has the potential to lead to trends and answer questions raised by financial planners and analysts alike, but as raw data it remains to be murky waters of information. This raw data needs to be translated into actionable information that can be viewed easily. Here lies the path to a company’s implementation of business intelligence solutions.

The running of raw data through a business intelligent solution ideally leads to it providing information on sales trends, product performance, targeted operational cost, or any other financial information. Anything an analyst can take a look at and draw a conclusion from that leads to a better business. This is achieved through data-cleaning, organization, and smart translation of data into query enabled states that can be used by analysts. Often achieved at simpler levels with excel sheets and pivot tables, or on-prem databases, SQL, and a Business Intelligence(BI) application, but in larger scopes the process is achieved in whole via software and the data cloud. Companies like Oracle, IBM, and Amazon offer comprehensive business intelligence solutions from the ground up. Incoming data gets stored in the cloud as Categorized Charts of Accounts and General Ledgers, or any other such labeled data based on its attributes. From there it can be translated into reports or viewable trends with the use of the BI applications. Charts, reports, categorized total sums; any question answered with the manipulation of BI tools.