The AI Blog
data analysis

Business intelligence (BI) comprises the strategies and technologies used by enterprises for the data analysis and management of business information.

1. Data collection and integration: Gather data from various sources and integrate it into a central repository for analysis. For example, sales data from different regions can be collected and integrated into a single database for analysis.
2. Data cleansing and preparation: Remove errors, inconsistencies and duplicate data to ensure accuracy of the analysis. For example, in a retail business, customer data may be cleaned to remove duplicate entries and correct inaccurate information.
3. Data warehousing: Store and manage large amounts of data in a structured manner to facilitate efficient querying and analysis. For example, a company may store customer data in a data warehouse to facilitate customer segmentation analysis.
4. Data mining: Use statistical and machine learning techniques to extract insights and patterns from data. For example, a marketing team might use data mining to identify customer segments and predict customer behavior.
5. Business intelligence reporting: Create reports and visualizations to present data-driven insights to decision-makers. For example, a financial analyst might use BI reporting to create a report that shows the financial performance of a company over a period of time.
6. Analytics: Use statistical and mathematical techniques to analyze data and make predictions. For example, a company might use analytics to predict demand for a product, or the likelihood of a customer churning.
7. Data visualization: Use charts, graphs and other visual elements to display data in a clear and easy-to-understand manner. For example, a dashboard showing website traffic and conversion rates can help identify patterns and trends.
8. Scorecards and dashboards: Create interactive scorecards and dashboards to provide real-time performance metrics. For example, a company might use a dashboard to monitor and analyze website traffic and conversion rates.
9. Collaborative BI: Facilitate team collaboration and data sharing by providing tools and interfaces that allow teams to work with data together.
10. Predictive modeling: Use advanced statistical techniques to determine the near future trend.