The strategies of companies have changed in recent years thanks to two concepts linked to digital transformation: Big Data and Business Intelligence or business intelligence. These technologies allow in-depth study of customer-related data and then draw conclusions that improve business prospects.
The companies have taken note of the need to update themselves technologically and adapt to the new times. During 2019, according to the consulting firm Gartner, the first investment priority for companies immersed in transformation processes was data analytics (43%), followed by cybersecurity (43%) and cloud computing solutions and services (39% ), that is, needs, on the data that makes new digital leaders require additional knowledge and skills about these technologies.
But, adapting this digital transformation is not done overnight. For this, companies need to have properly trained personnel who know how to introduce this new work methodology to get the most out of it. Next, we are going to see the main differences between Big Data and Business Intelligence and how they can help companies, both technologies, in business development.
Differences Between Big Data and Business Intelligence
All companies, regardless of size or sector, need to know their potential customers and buyers in-depth. Based on this information and thanks to technological development, it is possible to predict behaviour and design effective business strategies. That’s where Big Data and Business Intelligence come into play.
“The Big Data concept refers to a set of technologies and tools capable of capturing, storing and processing large amounts of data in time and cost that is acceptable to an organization.”
“Business Intelligence or BI is the set of processes, applications and technologies focused on obtaining data from business management systems quickly and easily.”
In other words, thanks to Big Data, we can deal with large volumes of data that are received at a very high speed. With the information we process from that data, BI tools allow us to perform predictive, advanced, dynamic and real-time analytics that help us make intelligent and strategic decisions based on real data. Both technologies are complementary.
Data Analysis: Key To Digital Transformation
A digital transformation is no longer an option but an essential initiative to adapt to the new demands of our environment. Over time, customers have become more demanding, and they demand immediacy.
Data analysis can help companies make the information they need available to users, at the right time, and thus make decisions based on truthful information to achieve their business objectives.
It will be increasingly complex to manage all the information about our company to extract value. Therefore, Big Data and Business Intelligence are of key importance for the operation of companies, reducing the time required to make decisions and speeding up the production process.
Digital transformation requires data and not in any way. Data that faithfully reflect the reality of our organizations. Correct, reliable, verifiable, integrated, consistent, governed and accurate data, among many other features.