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What are business intelligence and data science?
Let’s talk data
Business intelligence focuses primarily on analysing historical business data, whereas data science aims to make predictions about future performance. However, the two terms are largely interchangeable.
In a competitive market, having a solid business intelligence strategy is key to staying ahead. It reveals insights hidden under the surface of your Management Information (MI). This enables you to use data to drive decision-making and innovations.
How to improve your business intelligence and data science
A data scientist or business analyst can review your entire data environment using methods such as algorithmic data analysis, data mining and machine learning. They will use these methods to:
- Collect and organise data from multiple sources – structured or unstructured
- Cleanse data – remove errors, complete blank fields, remove duplicates (known as data optimisation)
- Transform / format data – so it’s all readable by one system (i.e. a data warehouse)
- Integrate data visualisation / analytics – derives useful information and insights
- Make future projections based on past data and predictive trends
- Set automation rules around projections and thresholds
What questions can business intelligence and data science answer?
A data scientist or business analyst can engineer your systems in order to answer questions like these:
- Which customers are you most likely to lose? And why?
- Which supporters donate the most amount of money? And why?
- Where should we set up our next store/fundraiser/business unit?
- How do I better predict market fluctuations, so that I know when to invest?
- How do I better predict demand, so I know where to focus my services?
Boost your data science and business intelligence with Helastel
At Helastel, we offer services to take your data science and business intelligence to the next level. These include:
- Data science consulting and business intelligence services
- Data optimisation services
- Data warehousing – architecture & systems design
- Data visualisation and analytics
- Data governance – improve compliance with standards such as GDPR
- Customising existing software to help you gain better data insights
For more information, fill out the form below, or call us on 0117 3830 380