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The benefits of data analysis have become widely known in the last few years due to the success of Google, Amazon, and Facebook (now Meta). Recently, much attention has been focused on “BI tools” that support decision-making through highly accurate and efficient data analysis. Most people don’t know what kind of tool BI tool is and what it can be used for. Therefore, in this article, we will comprehensively explain the outline and basic functions of BI tools, as well as points to note when introducing them.
Introducing the basic knowledge of BI tools in an easy-to-understand manner
BI, a BI tool, refers to “business intelligence” and is a general term for application software that provides information related to corporate decision making. Specifically, we collect and analyze big data accumulated in companies to support swift decision-making.
Basic functions of BI tools
With the promotion of DX, BI tools are playing an important role in corporate activities. First, let’s take a closer look at the outline of such BI tools and the purpose of using them.
Data analysis
BI tools have the ability to analyze data using statistical techniques such as multiple regression analysis and cross analysis. Since the amount of data managed by a company is enormous, it is difficult to handle it by human hands alone, and it is difficult to analyze it in detail. In that respect, BI tools can graph aggregated data, making it easier to intuitively understand the situation.
Report output
BI tools can also convert data into graphs and crosstabulations and output reports to file formats such as PDF, Excel, and CSV. In addition to being able to easily grasp the situation by visualizing the numerical values in the figure, it can be easily shared by converting it into various files.
Dashboard function
The dashboard function is a tool that automatically creates reports and graphs in response to instructions regarding data manipulation. In addition, some BI tools allow you to share data on your dashboard through apps such as smartphones.
What do you do BI tools for?
By introducing BI tools, you will be able to effectively utilize the analysis results without the need for a dedicated person. Now let’s see why you need BI tools and why.
Due to the increasing importance of information
In today’s fast-paced business world, companies need to make better use of information to differentiate themselves from their competitors. However, with conventional methods such as Excel, there is a limit to the utilization of accumulated information. In order to make effective use of the data that has been built over time and cost, advanced analysis using BI tools is now required.
Suitable for data collection and analysis
By utilizing BI tools, it will be possible to aggregate and visualize the data accumulated in each system in the company, so it will be possible to grasp the analysis results in an easier-to-understand manner than ever before. In addition, BI tools are supposed to be usable without specialized knowledge of analysis and analysis, so it is easy to start problem solving without specialized knowledge.
BI tools are recommended for such companies
BI tools are useful for speedy decision making and effective management strategy planning with reference to data. Therefore, it is especially effective for companies that have the following issues. Companies with these challenges should consider deploying BI tools.
- I want to reduce the time and effort for employees to create materials
- The current status of each department cannot be confirmed at a glance
- I want to share the progress of the business within the company
- I want to extract, analyze, and process necessary data without relying on specialists
- I want to analyze data across the systems of specialized departments
Benefits of BI tools
So what are the benefits for companies to implement BI tools? From here, I will explain the specific benefits of introducing BI tools.
You can manage in-house data collectively
BI tools have an ETL function that extracts and processes analysis data from the core system and stores it in the analysis database. Therefore, the data that was previously managed in separate files such as Excel and Word will be centralized, and it will be possible to manage the data in the company collectively. In addition, the aggregation of data makes it easier to check the status of each department.
No hassle of creating reports
If it is a BI tool equipped with report output and design functions, it can be operated according to existing forms. Since reports used for reporting to superiors and standard forms can be created and shared with BI tools, report creation time can be greatly reduced and daily routine work can be streamlined.
Allows for quick decision making
With BI tools, you can make data-based decisions quickly. Even with data that changes over time, it is possible to capture, analyze, and respond quickly to the latest information in real time, speeding up decision making.
Notes on BI tools
It’s a BI tool that brings all the benefits to a company, but it also has some disadvantages. In order to make the introduction more effective, let’s deepen the understanding of the points to be noted of BI tools here.
There will be a cost
There is a certain cost to install and operate BI tools. The price will change depending on the function you want to use and the number of users, so it is important to confirm the introduction cost in advance based on your company’s needs and budget.
It is difficult to understand the best service for your company
Currently, many companies in Japan provide BI tools. Even if you say BI tools in a nutshell, it is not easy to choose the right product for your company because the features and functions vary depending on the product. If you make a mistake in the selection, there is a risk that the tools you have introduced will be wasted. Therefore, it is necessary to carefully set the purpose of use and the number of people before introduction, and then select the tool suitable for your company.
How to make BI tools successful
In order to introduce BI tools to your company and increase productivity efficiently, you need to keep some points in mind. Therefore, from here, we will introduce the points to note when introducing BI tools.
Clarify the use
Unless the purpose of introduction such as “why to introduce BI tools” and the intended use of using BI tools to clear the current problems are not clarified, the expected effects can be obtained. not. Therefore, before implementing it, let’s introduce BI tools by your company and clarify where the purpose you want to achieve is.
Prepare data for analysis
With the introduction of
BI tools, it doesn’t make sense without the data to analyze. Therefore, it is important to first check whether the data for analysis is available in-house. At that time, you will be able to collect data efficiently by calculating back from the intended use of BI tools and identifying the necessary information.
Establish a PDCA cycle
When using BI tools, it is necessary to pay attention not only to the amount of data, but also to the type and frequency of occurrence. Therefore, it is essential to establish a PDCA cycle. Since the data itself changes over time, it is important to continuously analyze the data with BI tools and keep running his PDCA cycle while observing the results at fixed points in order to successfully introduce BI tools. ..
BI creation is easy with TRYETING’s “UMWELT”!
For data collection and analysis using BI, we recommend the no-code tool “UMWELT” provided by TRYETING. “UMWELT” is a “no-code DX cloud” that can introduce AI-equipped BI without programming. Data analysis with a highly accurate algorithm is possible simply by importing the data in the existing in-house system. The analyzed data can also be used for demand forecasting, inventory control, and production control.
summary
By introducing BI tools, data distributed within a company can be integrated in one place, and effective information for management and policy formulation can be obtained speedily. Please take this opportunity to use the service “UMWELT” provided by TRYETING to improve productivity and operational efficiency.
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