Blog Category: Business Intelligence

Sonya was regretting her decision to meet Jaimin & Joel at the pizza shop, as she knew that there was going to be a heated argument on the merits/demerits of Pineapple on Pizza.

Jaimin was vehemently against it. “It’s an abomination! The fruit has no place on a pizza!”

Joel, on the other hand, was a staunch defender of the controversial topping. “You’re just close-minded, Jaimin. Pineapple adds a sweet and tangy flavor that balances out the saltiness of the cheese.”

Sonya couldn’t believe they were arguing so passionately about such a trivial thing. But as they continued to bicker, she started to feel like she was caught in a pineapple-themed episode of The Twilight Zone.

Finally, she had had enough. “Guys, guys, calm down,” she said, trying to suppress a giggle. “Let’s agree to disagree, okay? I’m pretty sure we can all find common ground on our shared love of pizza, even if we don’t always agree on the toppings.”

Jaimin and Joel looked at each other, then at Sonya, and burst out laughing. “You’re right, Sonya,” Jaimin said, “We were being ridiculous. I promise I won’t judge you for your pineapple-loving ways.”

Joel grinned. “And I won’t hold it against you if you prefer your pizza toppings to be more, um, traditional.” Sonya rolled her eyes, relieved that she had managed to diffuse the situation. Who knew that a debate about pizza toppings could be so contentious?

The worst part is that at the end of the day, Jaimin and Joel knew that there was no difference in cost or the time taken to make the pizza and they could have just ordered and one of them could have just easily removed but what’s the fun without having a healthy/unhealthy pizza argument.

And there lies the exact role of a Business Analyst; in addition to the technical and analytical skills required for the role, Business Analysts should also possess certain emotional intelligence that can help them succeed in the position.

Those with high emotional intelligence possess the ability to accurately perceive their own emotions and empathetically comprehend the emotions of others. By being self-aware, individuals are able to factor in various situational elements that impact their emotions.

Why Emotional Intelligence Matters for Business Analysts?

Business analysts often work with stakeholders from different departments and backgrounds. To be successful, they need to have strong interpersonal skills that enable them to build relationships and communicate effectively.

Emotional intelligence helps business analysts to:

#1. Build Relationships:

A business analyst’s role is to identify and solve complex business problems. To do this effectively, they need to build strong relationships with stakeholders across the organization. Emotional intelligence enables business analysts to understand and empathize with stakeholders, making it easier to build trust and collaborate effectively.

 

#2. Communicate Effectively:

Business analysts need to be skilled communicators, as they are responsible for translating technical jargon into business language that stakeholders can understand.
Emotional intelligence helps business analysts to communicate effectively by enabling them to recognize and respond appropriately to the emotions of others.

#3. Resolve Conflicts:

Conflicts are a natural part of any workplace, and business analysts are often called upon to resolve them. Emotional intelligence helps business analysts to manage conflicts effectively by enabling them to recognize and regulate their own emotions, as well as understand the emotions of others.

#4. Adapt to Change:

The business environment is constantly changing, and business analysts need to be able to adapt to new situations quickly. Emotional intelligence helps business analysts to adapt to change by enabling them to recognize and regulate their own emotions, as well as empathize with others who may be experiencing change.

In conclusion, emotional intelligence is a vital skill for business analysts. It enables them to build relationships, communicate effectively, resolve conflicts, and adapt to change.

While technical skills are important, they are not sufficient for success in today’s workplace. Business analysts who develop their emotional intelligence will be better equipped to excel in their roles and drive meaningful impact in their organizations.

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Business Intelligence (BI) and Artificial Intelligence (AI) are tools that are often misunderstood in the enterprise setting. Business Intelligence and artificial intelligence are widely popular and imperative.

Artificial intelligence travels around the usage of computer systems to imitate different attributes of human intelligence. It includes learning, problem-solving, and judgment. Although it is still in the inception stage, businesses are already witnessing massive potential in AI for decision-making, speech recognition, and everything in between. AI and BI have essential and overlapping enterprise-related applications.

Business intelligence solutions talk about the various technologies and tools used to gather and analyze business data. The primary purpose of BI is to offer companies with valuable information and analysis to help in decision-making. By making use of BI, businesses can make decisions approximately five times quicker than they could otherwise.

This article throws some light on the differences among each field and how they can work in harmony in the future.

The Differences: Goals of BI and AI

Goals of BI

• BI targets to make the process of accumulating, reporting, and analyzing data more efficient.
• It lets companies enhance the data quality they collect and maintains consistency.
• Business Intelligence solutions help to convert raw data into an understandable picture. Still, they are not designed to deliver the way in which that data has to be used in decision-making.
• Many leading companies use BI tools for a variety of business purposes, like HR, sales, and marketing.
• It monitors every business operation on a regular basis and utilizes data to generate spreadsheets, dashboards, performance metrics, graphs, charts, and other insights.

Goals of AI

• By modeling human behaviors and thought processes, AI programs can learn, adapt and make rational decisions.
• Using AI-driven applications, like chatbots, can boost efficiency and bring in more significant profits.
• AI can offer human operators recommendations and can act autonomously.
• In contrast to BI, which analyzes data but leaves the decision-making process to humans, AI can empower computers to make business decisions.
• AI chatbots can answer customer questions without human intervention.

Use-Cases: BI vs. AI

BI Use-Cases

Many companies also use BI ubiquitously and to better understand their customers. Businesses communicate with their customers through various interfaces, such as emails, social media, and chatbots. BI tools are capable of collecting customer data from these disparate sources and deliver it in a unified and cohesive format. By gathering and combining such data from these sources, businesses can better understand their customers and find better ways to serve them.

Companies also utilize business intelligence solutions to enhance operational efficiency. BI tools can keep track of the key performance indicators in real-time, allowing businesses to recognize and solve problems quicker than they otherwise could.

Some of the general BI applications are spreadsheets, data warehousing tools, data visualization tools, and reporting software.

AI Use-Cases

The use-cases of AI enterprise are widespread, from refining medical diagnoses to designing useful energy grids. Artificial intelligence in web applications helps in understanding retail customers better. They generally help in delivering cognitive insight, process automation, and cognitive engagement.

Process automation is the most common and valuable type of AI-powered enterprise application. Such applications can automatically update customer information and records, manage boilerplate customer communication, and offer elementary guidance on standard documentation and contracts. These applications can swap human back-office and administrative functions, according to a Harvard Business Review. Every so often, it comes with a great return on investment.

Cognitive insight applications are more progressive when compared to process automation applications. Since they interact with users and data, they can learn and progress over time. Such kinds of applications can forecast customer behavior, offer advanced IT security solutions, and frame personalized ads.

Cognitive engagement happens directly with employees and customers alike in the case of chatbots. It can respond to internal company questions, offer medical advice or general customer service, and many more.

How interdependent are Business Intelligence and Artificial Intelligence?

BI and AI are unique but harmonizing. Both computer intelligence present in AI and business decision-making intelligence with data analysis and BI visualization go hand in hand.

BI supports companies by streamlining the vast amounts of collected data. However, clear visualizations and dashboards may not be enough. By embracing AI and BI’s convergence, businesses can convert a vast amount of data into a coherent action plan.

Their benefits include the following.

• AI can empower BI tools to render clear, valuable insights from the data analyzed.
• An AI-powered system can elucidate the significance of every data point on a granular level
• It can make human operators understand the way in which we can translate the data into workable business decisions.
• AI can result in the development of more adaptive and smarter BI tools.
• With extensive data, interaction with more users, and outcome analysis, one can know the various recommendations and analyses are beneficial and adjust.
• Rather than human software engineers, AI may ultimately provide the incremental improvements that make BI tools to the next level.

Several tech companies, ranging from well-established giants to novice startups, are looking forward to capitalizing based on this approach. IBM’s research wing is moving towards rethinking enterprise architecture and transforming business processes by uniting AI algorithms, human-computer interaction, distributed systems, and software engineering.

CIO Magazine had written about the company DataRobot that builds BI solutions by predictive modeling and machine learning. It had helped a healthcare company combine AI into its BI systems. 200+ medical practitioners and nurses can access forecasts and recommendations through tablets and smartphones from their PowerBI dashboards. It enabled the healthcare company to identify patients at higher risk and plan proactively on the treatments.

Wrapping it up

The prospect of BI will likely depend on AI in a specific capacity. Even though AI and BI differ significantly, they are more powerful together. We may witness several businesses would consider AI and BI as totally attached technologies in the upcoming days. Additionally, they may further explore and invest in utilizing the full potential and enabling businesses to overcome challenges grow to new heights.

We help develop expert solutions that can help streamline your critical workflows, increase ROI with Artificial intelligence in web applications. We make sure you get the desired BI solutions catered to meet your needs. Are you looking for Business intelligence solutions? Reach our experts to know more and to receive a free quote within 24 hours.

There are recent reports that establish the fact that Business Intelligence platforms have a bright future in the business world. With the recent acquisition of two major data science companies, Looker and Tableau, it is evident that every business is stepping up its game by going for advanced technologies. These analytical tools closely match with the relevant audience persona.

Business intelligence (BI) is an essential tool of the current era. BI and analytics tools are most sought out by organizations to streamline and optimize their performance in the current competitive market. The BI market’s global forecast is reported to reach up to $26.88 billion by 2021.

Many notable acquisitions have taken place in the Business Intelligence space. Stitch, Periscope, Tableau, and many more have been acquired in the analytics tech stack. Thus there is a constant race in the future of BI for enterprises. With all this happening in the tech world of BI, many startups have shifted their focus towards incorporating Business Intelligence Solutions.

Here’s how BI technology and data analytics is changing the business landscape.

Valuable Insights

Business Intelligence has made way for easy to access analytic data. It has provided many options to consolidate and envision data that help in making the right business choices. These analytics comprise a resultant formed by a set of parameters like customer behavior, demographics, consumption pattern, sentiment analysis, emotional analysis, ecological factors, market segmentation, and many more. These elements aim to give an unmistakable clarity to streamline the way of approach in the current market scenario.

Sets Business Ablaze

BI integration helps to put an end to guesswork and instead make decisions based on concrete facts. This reliable data can get rid of your theoretical moves. They combine data from all departments and enhances the efficiency level of work and the output derived.

Clear-cut information

Since BI tools gather data from all sources available on the web, it provides precise processed information. In addition to that, it drills down to explore the trends that can be favorable for the business operations.

Competitive-Edge

Market trend is an ever-changing phenomenon filled with constant challenges. The access to the right information at the apt time can work wonders for your business. Having an integrated BI can give you that extra mileage so that your brand gets established and ensures it stays that way.

For any data-driven company who is convinced that data is the future, then Business Intelligence solutions are the key to success. Not any Business Intelligence tool will do, but the metrics matter. Key Performance Indicators (KPI) are necessary to come to a conclusion, and these factors differ from business to business. You need to identify which metric is suitable and essential for your business.

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