2/15/2023 - Technology and Innovation

Introduction to Business Intelligence

By Sol Figueroa

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Starting to scan information

We are surrounded by all types of data, we can know consumer trends, age and gender of our customers, data from their purchases; product preferences and everything we can imagine and above all analyze. Data is 21st century oil. But are we in a position to take advantage of all this information?

The main question we have to do is how do we get relevant information? Ademas, Do I have a sales system?

Unfortunately, in the day-to-day voragine, many entrepreneurs do not take into account these details. We have to start dealing with technology, the benefits are very important not to take into account.

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We suggest starting with a small cost spreadsheet, it is a controversial theme and many ademas do not know how to use it, but without costs can not be set a selling price, so:

How can I have a spreadsheet? Let us remember what it is possible to access in the cloud through email accounts. We can also access on our personal computer to paid or free spreadsheets.

Once we define what the worksheet will be to use, we should write down everything that refers to the production cost of our product or service, constantly modify it to aggregate or remove items that are part of the cost, that is, dynamic and do not get archived and forgotten.

Then we can do the same with our customers, know what we sell, the star products and the market niches to which we can point.

It may seem very basic, but the reality has proven us that very few are taken the time to start with a scan.

On the other hand, we can also have a whole system that provides real-time information and this can also optimize.

What are the sources of my data? Do the data have a standardization for your load?, which is the load frequency?, which are the relevant data, are updated, have traceability, compatibility, etc.?

These questions can serve us as a guide to start modeling all available information.

Currently, there are many business intelligence programs that can help us find patterns and monitoring indicators that could not have been detected to the naked eye.

Now the other question to answer is about business intelligence, what is your function, what is this new mode?

It is a series of processes that start with data extraction until the results report presented on a board or "dashboard", which allows us to view information relevant to decision making.

In this way, we can anticipate trends to improve our business process.

The paradigms have changed. Before the information was power, hor the power is to understand the information we generate.

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sol figueroa

Sol Figueroa

I am Sol Figueroa, Contadora specialized in artificial intelligence and business intelligence. Integrate to the Commission of Computers and SMEs of CPCE (Professional Council of Economics of Córdoba). I count on a Diploma in New Technologies of UTN Córdoba.

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