Digitalization and the increasing use of data have revolutionized business analytics and business intelligence in recent years. Where data had to be manually aggregated from databases and reports had to be created in the past, modern business intelligence tools like Power BI or Tableau are now used. These tools enable the merging of data from various sources and present it in meaningful dashboards and reports.
Another trend currently shaping business intelligence is the use of artificial intelligence. AI systems can evaluate and analyze data on a scale and in real-time previously unimaginable. They help companies derive valid insights and forecasts from vast amounts of data. Machine learning aids in identifying patterns and correlations that remain hidden to the human eye.
The following areas particularly benefit from AI in business intelligence:
- Prediction: Using predictive analytics, AI systems can forecast future trends and developments such as demand, growth, or risks. This helps leaders make informed decisions
- Personalization: Based on historical data, AI models learn to understand customer behavior. On this basis, products, services, and campaigns can be individually tailored to customers
- Process optimization: By capturing and evaluating processes, resource use, and error analyses, AI can identify weaknesses and show potential for improvement
- Automated analyses: Many simple or routine evaluations and reports can now be fully automated by AI systems. This leaves analysts more time for creative and strategic tasks
However, the use of AI also brings new challenges for business intelligence. Insights derived from AI must always be questioned and validated. Moreover, the transparency and traceability of the results are often limited. It is important for companies to select the right AI tools and train employees accordingly to fully leverage the benefits of AI-based analyses.
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