Artificial Intelligence has been a turning point in the business world. We’re not just talking about AI applied to marketing and SEO, but also AI applied to any sector you can imagine: human resources, customer service, sales…
However, Artificial Intelligence is also being tremendously beneficial in a business area that is rarely talked about: business intelligence.
In this article, we want to tell you how it has influenced and enhanced its capabilities, as well as share some of the best Artificial Intelligence tools for business intelligence.
What is Artificial Intelligence (AI)?
To help you fully understand this article, we believe it’s a good idea to briefly refresh what AI is in general. Artificial Intelligence is a branch of computer science developed with the goal of creating systems capable of performing tasks that require human intelligence. This includes tasks such as decision-making, reasoning, learning, and language comprehension, for example.
What is business intelligence (BI)?
Also known as Business Intelligence, business intelligence existed long before the Artificial Intelligence boom. And although its name includes the term “intelligence,” it actually has nothing to do with this technology.
Business intelligence is a set of processes, strategies, and technologies that enable companies to collect, analyze, and present data in a more understandable way to facilitate and enhance decision-making.
How do AI and BI complement each other?
Thanks to Artificial Intelligence, the field of business intelligence has been greatly enhanced, increasing its capabilities and incredibly improving business decision-making. Below, we delve into the subject and tell you about the different ways this technology has influenced this important sector.
Predictive and prescriptive analysis with Artificial Intelligence
Artificial Intelligence can analyze vast amounts of data in a very in-depth manner, much more so than previous data analysis tools that weren’t equipped with this technology. Thanks to this analysis and its powerful algorithms, AI is able to detect patterns in the data your company generates to predict future trends in your organization and your industry that would be very difficult for the human eye to detect.
Furthermore, based on these trends, it can also recommend the best actions to optimize your business results. This allows you, as a company, to more successfully anticipate user behaviors and offer them a better experience, as well as stay ahead of the competition and establish a competitive brand.
Advanced data visualization and accessibility for business intelligence
Another example of Artificial Intelligence applied to business intelligence is data visualization. This technology can convert complex data into graphics that are easily understandable by anyone. This allows you to share important company data with teams at different levels, allowing decision-making professionals to significantly streamline their work.
In addition to visualization, there are Artificial Intelligence tools applied to business intelligence that adapt to any company and its data, answering questions on any related topic and making it even easier for decision-making teams to understand the state of the business. In this sense, the interfaces of tools equipped with this technology are often much easier to use, further facilitating the work of professionals.
Risk detection and crisis prevention
Just as AI can predict market trends and predict consumer and other business behavior through data analysis, it can also do the same work internally. In this sense, companies are already using AI applied to business intelligence to detect potential business crises and prevent them before it’s too late, as well as to detect potential attacks or security breaches.
Business intelligence tools powered by Artificial Intelligence
Microsoft Power BI
This Artificial Intelligence and business intelligence tool developed by Microsoft focuses on detecting complex patterns from the data you provide and visualizing them, converting them into powerful graphics and visual objectives that clearly and attractively represent valuable information.
Plus, it features easy-to-use reporting functionality, allowing you to add visual representations to share with the rest of your team.
This is a highly recommended business intelligence tool for your company that also supports a wide variety of data sources. If you work in the Microsoft environment or plan to do so, this tool is even more recommended, as it allows you to connect Power BI with all the tools in the ecosystem and easily share reports across them.
Tableau
Tableau is another AI-powered data analysis tool we recommend. It can be used by companies of any size and can be integrated with Salesforce CRM, making it perfect if you already work in that environment. It also has data governance and management features that ensure data quality, security, availability, and maintenance.
Another interesting aspect of Tableau is that it’s equipped with an Artificial Intelligence agent that can help you create visualizations.
Looker Studio
We conclude with the data analysis tool for BI developed by Google. It’s ideal for companies that need scalable platforms with a very intuitive interface. It has a large number of templates and allows you to create real-time reports.
This is how Artificial Intelligence tools for business intelligence benefit your company.
Although you’ve already identified some of the benefits that Artificial Intelligence offers in business intelligence throughout the text, we want to compile them all so you don’t miss a single one. We’ve identified each and every one of them in clients who use our data science services:
- Make decisions more strategically and accurately.
- Ability to anticipate customer needs.
- Greater competitiveness in the sector.
- Automation of repetitive and complex tasks.
- Saving time for the team, which can be dedicated to more strategic tasks.
- Greater efficiency and cost reduction.
- Democratization of access to data within the company.
