Business Intelligence Automation is automating data collection, analyzing that data, and producing reports to make business decisions. It is not about the tools themselves but about the process of dealing with, analyzing, and reporting on data.
This system is designed to work with data mining and data visualization tools. It is a powerful tool that is being used today by a large number of businesses. It is used to improve decision-making. If you want to get ahead of your competition, business intelligence automation is a must.
What Is Business Intelligence Automation?
Business Intelligence Automation is a process that automates the discovery and analysis of business data and the creation of ready-to-use reports, dashboards, and alerts. With intelligent automation, business users can avoid the time-consuming, complicated process of building a BI dashboard from scratch and instead focus on the more critical tasks of business operations and strategy. Automated tasks are helpful for organizations looking to reduce costs and improve the efficiency of their business.
Main Pillars Of Business Intelligent Automation
The importance of intelligent automation for business is becoming increasingly prevalent in the modern world, with many businesses taking advantage of it to automate their business. Intelligent automation is a process that combines three powerful technologies. These technologies are helping businesses in their digital transformation and improving customer experience. The three pillars of intelligent automation include:
1. Artificial Intelligence.
Artificial intelligence automation, or AI, is the process of automating tasks that today require human decision-making through computer intelligence.
AI is the next big step in business intelligence automation, which has traditionally been achieved through costly and time-consuming manual approaches. AI promises to unlock the potential of business intelligence automation, providing a digital transformation solution that empowers businesses to achieve more with less.
2. Customer Experience Management (CEM)
Customer Experience Management (CEM) is gathering customer feedback and turning it into actionable, meaningful insights. It is a critical concept in the world of business intelligence. It is a term for measuring the customer experience and taking action to improve it.
Customer experience management (CEM) is an umbrella term that refers to all the processes involved in ensuring that customers have a positive and beneficial experience with a business. It includes everything from the customer’s first contact with a company to their final interaction. It is an ongoing process and relies heavily on using a wide variety of tools and resources.
The goal is to ensure that customers are happy with the customer experience before they leave the business.
3. Intelligent Automation For Business Process Management.
Business process management (BPM) is a business management and execution method that typically involves managing and automating the processes involved in producing or delivering goods or services. Some BPM solutions automate the entire business process by managing all the business processes involved in delivering a single product or service, while others automate individual processes.
In What Industries Can You Apply Business Intelligence Automation?
There are many industries where business intelligence automation is applied. Some of these industries include healthcare, finance, retail, and manufacturing. In each of these industries, there are specific areas where business intelligence automation can be beneficial.
For example, business intelligence automation is used in healthcare to streamline patient care. In finance, it is used to improve investment decision-making. In retail, it is used to optimize stock levels, and in manufacturing, it is used to improve production efficiency. Below you have the main areas existing in all industries where you can increase the level of automation:
1. Customer Relationship Management (CRM): CRM software enables businesses to manage their customer interactions and sales processes in one place.
2. Marketing Automation: Marketing automation platforms help businesses automate their marketing activities, including email marketing, social media campaigns, and targeted ads.
3. Accounting And Finance: Automating accounting and finance processes can help businesses save time and improve accuracy.
4. Human Resources: Human resources automation can help businesses streamline their hiring and onboarding processes.
5. Supply Chain Management: Supply chain management software can help businesses automate their inventory management, procurement, and shipping processes.
Nine Activities You Can Automate With Business Intelligence
Business intelligence can help you automate several activities, from tracking customer behavior to analyzing your competition. By automating these activities, you can save time and resources that could be better spent elsewhere. Some of the activities that business intelligence can help you automate include:
1. Tracking Customer Behavior: You can use BI to track customer behavior patterns and preferences. This information can then segment customers and target them with personalized marketing campaigns.
2. Analyzing Your Competition: BI can help you understand your competition better. You can learn from their successes and avoid mistakes by analyzing their strategies and tactics.
3. Identifying New Opportunities: BI can help you identify new business opportunities by analyzing trends and other data points. By being aware of these opportunities, you can stay ahead of the competition and capitalize on them before they do.
4. Improving Decision-Making: BI can help you make better decisions by providing accurate and up-to-date information. With this information, you can make informed decisions that will improve your business’s bottom line.
5. Saving Time: Automating activities with BI can save you a lot of time that is spent on manual tasks
6. Scheduling Tools – that automatically generate reports and dashboards at predetermined times
7. Data Entry Automation – that eliminates manual data entry and ensures data accuracy
8. Report Distribution – sends reports to specific users or groups on a schedule
9. Dashboard Creation – that allows users to create custom dashboards without IT assistance easily
What Are The Benefits Of Business Intelligence?
There are many benefits of business intelligence, including the ability to make better decisions, the ability to improve operational efficiency, the ability to gain a competitive advantage, and the ability to make informed decisions. Business intelligence can also help organizations to identify opportunities and threats and understand and predict customer behavior.
Helping organizations to make more informed decisions improves efficiency, optimizes performance, and allows businesses to compete better in today’s data-driven marketplace.
Additionally, business intelligence can help businesses identify new opportunities and better use their data resources. Ultimately, the business automation can help businesses to improve their bottom line.
What Are The Top 10 Business Intelligence Automation Software Tools?
Many business intelligence automation tools are available to help businesses improve their decision-making processes. Some of the top 10 business intelligence automation tools include:
1. Tableau: Tableau is a data visualization tool that helps businesses see and understand their data.
2. Qlikview: QlikView is a business intelligence tool that helps businesses create and manage interactive data visualizations.
3. Microsoft Power Bi: Microsoft Power BI is a business intelligence tool that helps businesses create beautiful data visualizations. Moreover, considering the cost of Power BI, it’s important to recognize the scalability and affordability this platform provides, especially when compared to other BI tools. By offering various pricing tiers, it is able to cater to businesses of all sizes, ensuring they have the right resources and tools to make meaningful decisions from their data.
4. Sisense: Sisense is a business intelligence tool that helps businesses make sense of their data with easy-to-use dashboards and reporting.
5. Oracle Business Intelligence: Oracle Business Intelligence is a powerful tool that helps businesses make better decisions with its advanced analytics and reporting capabilities.
6. IBM Cognos Business Intelligence: IBM Cognos Business Intelligence is a comprehensive business intelligence tool that helps businesses gain insights into their data with its advanced analytics and reporting features.
7. Microstrategy: MicroStrategy is a business intelligence tool that helps businesses make better decisions with its flexible dashboards, reporting, and analysis features.
8. Sap Business Objects: SAP Business Objects is a software company that provides business intelligence, data visualization, and enterprise performance management tools.
9. Tibco Spotfire: TIBCO Spotfire is a powerful business intelligence tool that helps organizations make better decisions by providing insights into their data. It lets users visualize and analyze data quickly and create interactive dashboards and reports. Spotfire also provides various features and capabilities, such as predictive analytics, to help organizations improve their decision-making processes.
10. Sas Business Intelligence: SAS Business Intelligence is a business intelligence tool that helps organizations make better decisions by providing insights into their data. It provides users access to data visualization, reporting, and analytics tools. SAS Business Intelligence also makes it easy for users to share their insights with others in their organization so that everyone can make better decisions.
What Are The Pros And Cons Of Business Intelligence Automation?
Pros Of Business Intelligence Automation
There are many pros to business intelligence automation. The most important ones are:
- Save Time And Money: due to the automated task being done repetitively. With BI automation, tasks that used to take hours or days can now be completed in minutes or seconds. It means businesses can get the information they need faster and make decisions more quickly.
- Improve Decision-Making Processes: by providing more accurate and up-to-date information.
- Reduce Dependence On Manual Processes and human error.
- Improve Accuracy And Consistency: by ensuring that data is collected and analyzed consistently.
- Efficiency: collects the data more structured way and gives you more time to analyze.
- Customer Satisfaction: more time to analyze customer feedback and behavior.
Cons Of Business Intelligence Automation
There are several potential disadvantages to automating business intelligence, including:
1. Limited Customization And Flexibility: Automated systems can be inflexible and difficult to customize, limiting their usefulness for businesses with unique needs or requiring highly customized solutions.
2. High Upfront Costs: Automated business intelligence systems can be expensive to implement and maintain, which can be a barrier for businesses with limited budgets.
3. Dependence On Data Quality: The quality of the data used to train and operate automated business intelligence systems is critical to their success. If the data is of poor quality, the results produced by the system will likely be inaccurate or misleading.
4. Missing Human Expertise: Human expertise and intuition are necessary to understand and use business intelligence effectively. As such, they may not be able to provide the same level of insights as humans are familiar with the data and the business context.
5. Process Failure: due to upgrading, changing to a new platform, or adding others that are not compatible
6. Data Loss: caused by interruption of the average data transfer flow.
Examples Of How Business Intelligence Is Helping Leading Companies
There is no question that big data and business intelligence (BI) is revolutionizing the business world. Companies of all sizes use BI to make better decisions, improve operations, and gain a competitive edge. Here are some examples of how leading companies are using BI to propel their success:
- FedEx uses AI technology to enhance customer service and increase transparency on how its customers use its products. The company uses personalized messaging systems and apps that allow drivers to easily share information about their driving habits with their peers – all while maintaining passenger safety standards in the event of an accident or emergency. FedEx’s goal is for its drivers to be more proactive in providing information about the products they use, so customers can better understand the products’ safety and use.
- Amazon is using BI to track customer behavior and preferences. The company uses this information to make customer recommendations and improve its product offerings. Amazon has also used BI to improve its warehousing and fulfillment operations.
Amazon has been one of the biggest tech companies in revenue since its inception, so it’s not surprising that they’ve been working on improving its technology and systems to make them more efficient for business customers. The company is also slowly improving its product stack by integrating more new technologies, like machine learning and artificial intelligence technologies.
- Google uses BI to understand user behavior better and develop targeted advertising campaigns. The company has also used BI to improve its search algorithms and develop new products such as Google Maps.
- Uber: has been using AI to improve the customer experience for years, and it is using AI for its driverless car service to improve customer service. The company has partnered with companies like Google that are developing AI-based technology to help improve customer experience on its cars. The company has also built an AI-powered call center that provides information about the cars on the road.
- Saks Fifth Avenue: The luxury retailer has a data warehouse that analyses trends in sales, profitability, merchandise sales, construction stocks, and more. It is essential as it helps the company manage inventory levels, which allows it to reduce costs and increase margins. They also use BI software to help them analyze their product development process and improve how they sell products through pricing models.
- Apple: Apple is one of the largest tech companies in revenue, so engineers are constantly improving their technologies and systems to make them more efficient and valuable for businesses. Apple’s focus on AI began after a patent was awarded against them by a European Union court in 2016. The company used artificial intelligence to analyze how its products worked, which helped them develop a new version of Siri that customers could use without learning a new language.
- Capital One: The company’s online banking platform has more than 100 million users and has become a leader in the industry in terms of customer service and speed. Through its partnership with Capital One, the company has opened up its banking services to consumers and businesses by offering an easy-to-use mobile app and a free mobile iOS application. It is an excellent example of how a company can leverage its existing data to help customers get the most out of their experience.
- Tandy: Tandy completes over 40% of corporate telemarketing tasks. These jobs require extensive knowledge of customer service procedures, customer loyalty programs, customer expectations, and other vital elements that help companies meet their goals for improving customer satisfaction. Some companies even push these processes into their systems to identify which employees will most likely complete these tasks.
- Gartner: Gartner is an industry-leading provider of research solutions for the aviation and transportation industries, providing insights into industry trends, market performance, and emerging technologies that affect the future of aviation and transportation. This information helps airlines improve customer experience by applying predictive analytics to determine if new technologies impact business operations.
- Southwest Airlines: Southwest is using technology to enhance customer experience, which includes training its flight attendants to better connect with customers through AI. The airline utilizes machine learning to understand customers’ wants and post them on social media. Social media is the most efficient way to engage with customers because when they post a comment or share a picture, they get more credit than posting an image of the same product via a website. The company also uses AI-powered artificial intelligence to improve customer service and help reduce wait times.
These are just a few examples of how leading companies use BI to drive their businesses forward. With the right BI solution in place, your company can achieve similar success.
As Business Intelligence Automation is a complex topic, we tried to make it as simple as possible by providing an overview and examples of how it can be implemented to save time, increase efficiency, and improve overall productivity.
We want to note that Business Intelligence Automation is not just about automating tools but dealing with data and producing reports. If you have any follow-up questions or thoughts, please feel free to reach out to us!