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Business Intelligence – Importance of Data for Business

1 December 2021 | EN Planning & Analysis

The mysterious term ‘Business Intelligence’ actually stands for data analysis processes that provide a company with key insights for its further development. An enormous competition in almost every area of business forces companies to constantly adapt to customer preferences. Reaching a selected group of recipients with an offer is only possible if a company learns about their needs and methods of meeting them. Reactive management shows much less effectiveness than proactive search for future direction. A company is a kind of a warehouse of data coming from all around. Collecting sales information, measuring the impact of marketing campaigns on financial performance, analysing the conditions of increased or decreased consumer activity – all these factors generate huge amounts of data which require archiving and processing. A key to successful implementation of Business Intelligence in an enterprise is not only storing information, but also formatting it for a pre-prepared system.
A management team is responsible here for setting analytical direction for data warehouse work to ensure consistency of the business analytics. Prevailing purpose of the processes mentioned above is business reporting that provides precise and predictive tools for determining effective development actions. BI uses specialised high-performance software. A stream of data from a data warehouse can reach gigantic proportions, therefore it turns out to be so important to create a rational method of acquiring information and interpreting it. Incube empowers entrepreneurs to make better business decisions. We use advanced software packages for business analytics, such as IBM Cognos Analytics or Microsoft Power BI. We offer our customers solutions and consulting services for financial and operational planning, forecasting, business analysis and business process automation.

<h2>Business Reporting – State-of-the-Art Solutions</h2>
A wide range of activities that provide foundations for effective business reporting are sometimes beyond the capabilities and knowledge of a company board. Preparing a professional report requires having IT tools with a function profile adapted to the activity of a given company. Business analytics also requires time, knowledge and experience. Outsourcing analytical processes to a specialised third-party company therefore is justified in terms of cost-efficiency and for organisational reasons. Incube CPM has been providing technical consultancy in the field of development planning and financial analysis for many years. Our activities are focused on providing companies with effective support that can be measured. Information technologies that we use on a daily basis in our work guarantee effective business analytics and improved operational efficiency of the company.
A customised business reporting system must be based on identifying recipient needs, analysing and visualising data. Moreover, a prepared report by itself should be made available to entire team in an accessible and understandable form. A data warehouse collects and archives incoming information on a continuous basis, software performs its initial analysis and processing, and the Incube CPM team of specialists ensures that the findings are correctly interpreted. Complexity of the Cognos Analytics suite enables a variety of objectives to be met, as well as unifying data to be archived. With Power BI’s intelligent features, business owners are provided with an ability to create self-service analytics, deliver results as visualisations, and benefit from security features such as confidentiality labels and encryption. Incube CPM provides tools for improving efficiency of FP&A processes, recognising their fundamental importance for the future growth of your business.

<h2>IBM Cognos Analytics</h2>
The consulting activity carried out by Incube CPM specialists does not consist in creation of hypotheses and unsupported analytical models. We base any analysis on hard data, which we interpret. IBM Congos Analytics is a solution for intelligent data analysis and reporting. Measuring an enterprise’s operational effectiveness along with identifying areas for improvement is one of the key benefits of Cognos, used by companies from many different fields of business life. We tailor individual functions of Cognos Analytics to customer requirements, providing a consistent and complete picture of business operations. IBM Cognos allows any configuration of indicators and alerts. It also integrates information systems using OLAP methodology, understood as a multidimensional database. Intelligent data analysis is now at your fingertips, with Incube CPM specialists overseeing delivery of tools in the form of reports and analysis to support management decision-making.

<h2>Microsoft Power BI</h2>
Microsoft Power BI is responsible for creating an architecture of data flowing from the data warehouse, as well as its accessible presentation to the end user. An ability to create interactive managerial dashboards and customised visualisations meets the requirements of companies that want to explore innovative approaches and develop their offerings. Scalability of the tools presented by Power BI means that they can be quickly implemented both at individual employee and entire staff level. Incube CPM applies advanced intelligent data analytics. The consultancy activity that has been the cornerstone of our business model for several years helps hundreds of companies to monitor and manage performance of their organisations. We guarantee measurable results, fast implementation and an effective combination of reporting and budgeting with performance management. We help to determine new directions of development and eliminate shortcomings that limit the company’s current capabilities.