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What is business intelligence consulting?
Business intelligence (BI) consulting services help establish a process of data aggregation and analysis to inform management decisions. Experienced service providers develop BI solutions that allow businesses to analyze valuable insights from internal company data, thereby improving efficiency and decision making. Enterprise business intelligence solutions allow to gain a competitive advantage and improve operations throughout the organization.
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What do business intelligence consulting companies do?
As a business intelligence solutions provider, we help businesses select and implement scalable enterprise business intelligence solutions that cover their data needs and operational challenges. NIX team analyzes data to produce financial and market intelligence reports. These reports are used to identify patterns and trends in a particular market that may affect the company’s operations and future goals. In addition, if a BI solution already exists that no longer meets business needs, the NIX team evaluates and modernizes the existing solution with new data sources, sophisticated data warehouses, and top-notch functionality.
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Who works on BI solutions?
The business intelligence team consists of a combination of project and program roles that encompass both specific BI initiatives and the overall management of the organization’s BI activities.
Usually, for efficient implementation for enterprise bi solutions, the business intelligence team consists of a BI engineer, business analyst, data architect, ETL engineer, and software engineer. The BI team is responsible for data discovery, data validation, and working with end users to identify business needs and requirements. The service provider performs the business intelligence consultation and customizes the team structure based on current business needs, organizational structure, the complexity of the implementation, and timeline.
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What is the difference between business intelligence and business analytics?
The main difference between business intelligence and business analytics is that the focus is on when events occur. BI prioritizes descriptive analytics, which provides a summary of historical and present data to answer “what” and “how” questions. BA focuses on predictive analytics using data mining, modeling, and machine learning to determine the likelihood of future outcomes.
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Does business intelligence need coding?
Business intelligence requires coding for processing data to produce actionable insights. BI solutions help get actionable data at every step of the process. This includes applications for data preparation, analysis, data visualization, reporting, etc. Coding is used in the BI project lifecycle modeling and data warehousing phases. NIX is a BI service provider and after business intelligence consultation, we assemble a team based on your business needs, organizational structure and current challenges.