Business intelligence comprise of strategies and technologies where raw data is transformed into useful information ensuring effective operational insights and strategic business decision-making. Business intelligence is most effective and provides a complete picture by combining external data with internal company business data such as financial and operations data.
Deep analytical skills are applied to transform data into useful information within the Business Intelligence context providing useful information to analysts and managers enabling effective decisions in business. Specific areas of expertise are advanced applied statistics, mathematical statistics, load research, modelling, predictive analysis and long- and short term forecasting.
Business intelligence technologies include the following functions
Projects entail research on complex topics to support strategic decisions. The data is scrutinised and contextualised. Research is conducted to build advanced algorithms to make recommendations. Data modelling is performed by utilising data mining, statistical and mathematical techniques to classify data and identify patterns. Once the project is operationalised, the continued optimisation is achieved by on-going monitoring of the model performance and making recommendations on improvements.
Business intelligence will be utilised to inform basic operating decisions such as product pricing, gaining insight into new markets, demand and suitability of products and monitor impact of marketing. Strategic business decisions would include setting and monitoring the impact of priorities, goals, and directions.