#Business intelligence definition excel update

At the same time, you would also realize that most of your customers are based in a specific country, and you could reduce your cost of shipping by either striking a specific deal with a carrier or even installing a warehouse and a distribution center in this country. Knowing that most of your customers are from the age range of 18 to 24, for example, can make you decide to offer more products likely to be bought by this particular age range, thus optimizing your sales. Understanding the difference between data vs information in business can be crucial for your business to grow. You will then have all the keys in your hand to make the most suitable decisions for your business.Д¬heck out these Dashboard Examples that will help clarify your business data. Here you have data transformed into information, it becomes Business Intelligence when you decide to pay attention to all other information you can draw from your data by setting appropriate systems, dashboards or other data visualization applications such as ClicData.

#Business intelligence definition excel update

Most likely you will be interested in looking at how much money you make each day, and a few other factors, plus you will have set your systems to send you an update about it each day. As sales manager of an online-store, your database fills itself every day with data such as the time and date of a purchase, the geographic location of your clients, their age, the total amount of orders, etc.

So, how is information different from data?Д«usiness intelligence is the next step when this information finally makes sense and is turned into actual knowledge your company can use to make decisions. The data that the modern organization generates is overwhelming. Why Business Intelligence is Replacing Excel. Some CFOs balk at the idea of abandoning Excel because of the time and money needed to retrain employees on a new tool. This can be achieved through numerous ways such as sending a query to your database to know which of your clients are still working with you, or setting those data from excel into a pie chart. Some CFOs see little reason to abandon Excel since it integrates easily with other company tools. The first step is to transform those data into information. They are around, you probably use some of them, but most of it stays dormant. Those data are raw numbers, columns, and rows in an excel sheet, or strings in a database. But what are we exactly talking about and how is information different from data?ДЄs your business is building and growing, you will (actually you must) be stockpiling more and more data, either from your sales department, your IT department or say your HR department. As Big Data is becoming more and more popular, those words can nowadays be found in practically every business publication.