Business runs on data. Be it a kiosk on a street corner or a multi-national conglomerate whose leaders make informed decisions on how to position their products and serve their customers in different markets, data provides crucial information for the success and sustainability of businesses.
Therein lies the challenge. Much as businesses derive data from their day to day operations, the task of compiling and turning the data into information that is palatable is daunting for most. That is why organizations are now turning to technological solutions that can make sense of data faster, more accurately and with better reporting methods. This is where Business Intelligence (BI) comes in.
Why Data Matters.
As has been alluded to, successful business runs on data. It may very well be the brain of the business because using processed, well presented and easy to understand data, the management of an organization is able to make intelligent decisions to steer the organization to greater heights of success. Any organization that is currently using an automation solution such as financial automation or HR solution can reap greater benefits from technological automation, by taking advantage of Business Intelligence Solutions.
The data information business intelligence is useful in providing information on customer preferences, security intelligence, as well as providing insights that can be used to drive innovation.
What is Business Intelligence (BI)?
BI is a set of technological processes that convert raw data into intelligent, actionable insights. One popular technological process in Business Intelligence is data mining. During this process the business intelligence solution mines an organization’s data according to inputted queries, to provide quick, relevant and easy to understand information, presented in the mode of choice, e.g. graphs and pie charts. This is done in real time, even during meetings where the information may be needed urgently to aid in making decisions.
BI is a practice that has quickly caught on in Kenya and businesses, both large and small have reaped tremendous benefits from it.
BI in Kenya – A case study
In Kenya, Business Intelligence has been used to make statistically significant improvements in various spheres of business. These include response time in customer service through informed understanding of customer preferences. BI has also been used to improve security intelligence and driving innovation. Such has been the case with Equity bank, which constantly relies on business intelligence software to gain important information from company data.
BI is an important tool that is useful for not only the banking industry though, but the entire array of industries in existence.
BI Providers in Kenya
Globally, there are a number of BI solution providers, and some have licensed local ICT solutions providers to provide BI solutions in Kenya. Tableau is arguably the best BI solution globally, and they have partnered with Coseke Limited to provide local provision, training and maintenance of their solution.
It may all seem a little complicated from this short article, and you may want to experience it practically. A good way to achieve this is via a live demo. During the demo you will have the opportunity to ask any questions or get clarification on any issues that may arise either from this article, or that may arise during, before or after the demo. We look forward to hosting your organization to provide more information on this.