Predicting cryptocurrency prices with self-service Business Intelligence tools – Business intelligence is the driving force behind well-founded business decisions. However, traditional BI solutions require technical experts to extract insights. Fortunately, self-service BI allows even non-technical users to access and analyze data.
According to a Fortune Business Intelligence report, the size of the global business intelligence (BI) market is estimated to grow from $29.42 billion in 2023 to $54.27 billion by 2030.
Predicting cryptocurrency prices with self-service Business Intelligence tools
This significant growth reflects the increasing recognition of the value that business intelligence brings to organizations, enabling them to make informed decisions, streamline operations and adapt to ever-changing market dynamics. However, traditional BI requires data analysts and other technical experts to interpret the data, leading to decision-making bottlenecks.
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To reduce this problem, companies have started adopting Predicting cryptocurrency prices with self-service Business Intelligence tools. They allow non-technical experts to explore and extract insights from data without depending on IT teams. In this way, Predicting cryptocurrency prices with self-service Business Intelligence tools allows businesses to facilitate data discovery and, subsequently, drive the decision-making process.
Read on to learn the key benefits and features of self-service business intelligence, discover how it complements traditional BI, and learn how to integrate this technology into your business operations.
Self-service BI allows users to access, analyze and derive insights from data without relying on data experts. This promotes data-driven decision-making across roles within the organization.
Additionally, as some data analysis tasks are outsourced to other professionals, data engineers can focus on more complex data challenges, such as optimizing data infrastructure and ensuring data quality.
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Predicting cryptocurrency prices with self-service Business Intelligence tools, users have access to real-time or real-time data, making quick business decisions and enabling organizations to respond quickly to changing market trends and make timely strategic decisions.
Because personalized business intelligence encourages individuals from different roles and professional backgrounds to dig into the data, they can look at it from a new perspective, revealing hidden business opportunities or challenges.
Using Predicting cryptocurrency prices with self-service Business Intelligence tools, each department or specialist can customize their reports and dashboards based on what’s most important to them, instead of relying on one-size-fits-all reports.
In this way, we present the data in the most clear and understandable format for a specific audience. It reduces the possibility of misinterpretations or misunderstandings, which can lead to costly mistakes.
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Self-service Business Intelligence tools make sharing reports and dashboards easy, promoting teamwork and cross-departmental collaboration. This ensures that everyone is working with the same, most relevant data, improving alignment and efficiency across the organization.
Although self-service BI can have a significant impact on business processes, it should not be seen as a replacement for traditional BI but as a supplement.
It is desirable to use these approaches together to meet the quantitative and customized analytical needs of an organization, creating a powerful, flexible, data-driven business environment.
Traditional business intelligence is primarily designed to generate measurable, consistent reports and perform complex analyzes that serve the entire organization. BI personal service, on the other hand, focuses on handling spontaneous requests and providing insights of a specific category.
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BI traditionally implements strong data management and quality control measures. A self-service BI can leverage your existing system, ensuring users access and analyze high-quality, accurate data.
Not everyone in the organization is an expert in data management and analytics. Traditional Predicting cryptocurrency prices with self-service Business Intelligence tools ensures that complex analysis is managed by professionals, while functional BI empowers people with basic knowledge to understand insights without the need for advanced skills.
While personal business intelligence tools aim more for agility, traditional BI systems are often designed with scale in mind. The basic system provided by traditional BI can support the growth of Predicting cryptocurrency prices with self-service Business Intelligence tools, ensuring that as more users enter, the system remains stable and efficient.
Traditional BI provides a macro view of an organization’s performance, while personalized Predicting cryptocurrency prices with self-service Business Intelligence tools can go into micro-level detail. When used together, they ensure that decision makers at all levels have a complete 360 degree view of the business.
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There are several important features that a self-service business intelligence tool should have to enable users to handle data effectively. This includes:
There are many personal business intelligence tools that you can use to drive decision making in your organization.
It serves a variety of business needs, from reporting and creating interactive dashboards to performing predictive analytics and evaluating business performance.
One of the key features of Tableau is its intuitive, drag-and-drop interface that allows users to create visualizations and dashboards without the need for advanced technical skills.
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Tableau integrates seamlessly with many data sources, such as Microsoft Excel, Dropbox, Google Sheets, MongoDB, MySQL, Salesforce, and many others. This gives users access to a large and diverse set of data, allowing them to work with information.
Power BI is a Microsoft data analytics platform that offers self-service and traditional business intelligence capabilities. It is a versatile tool for many business needs, from data visualization to complex data modeling and analysis.
Power BI integrates seamlessly with many Microsoft products, such as Excel, Azure and Dynamics 365, as well as with third-party applications and platforms. This ensures that businesses can consolidate data from different systems, providing a complete view of their business.
The platform offers strong security features, ensuring that sensitive data is protected and can only be accessed by authorized individuals.
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Power BI also features Copilot — natural language processing that lets users ask questions about their data conversationally. Copilot interprets these questions and instantly generates relevant views and data as answers.
Furthermore, when Copilot generates a report or visualization in response to a user query, it can also recommend related information that can enhance overall understanding.
Tableau or Power BI? Which tool is best for your business needs? Let’s decide based on our detailed comparison of these two solutions
Sisense is a cloud-based business intelligence solution that offers many capabilities. It serves well both technical professionals and non-technical users.
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Thanks to the intuitive drag-and-drop interface, users can freely create, modify and analyze reports and dashboards. In addition, Sisense is highly customizable, allowing users to choose visual themes and install custom plugins, ensuring that companies can adapt the platform to their specific needs.
Sisense supports many data sources, including SQL Server, MySQL, Oracle, Salesforce, Google Analytics, Zendesk and more.
In addition, the tool allows businesses to incorporate analytics directly into their applications, portals or websites. This means that users can access insights without leaving their primary work environment.
To unlock the full potential of self-service business intelligence and achieve tangible benefits for your organization, our data experts suggest following this six-step plan:
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Check your organization’s current data management practices. This survey will allow you to understand the current state of data management, quality and availability, as well as the data analysis techniques used and the general level of data literacy within the company.
Define what you want to achieve with BI self-employment. Goals may include improving overall decision making, increasing efficiency, uncovering growth opportunities, reducing risks, or solving existing problems.
Make sure the tool you choose can integrate seamlessly with your current systems and data sources, while providing access to external databases. In addition, the solution should be able to expand and adapt to growing data volumes and user requirements, ensuring a high level of data security and compliance within your budget.
Train the perfect employee and provide your team with the guidance they need to apply self-service business intelligence. This ensures that your team is well-equipped to make the most of BI work itself, promoting effective data analysis.
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Continuously collect feedback from Predicting cryptocurrency prices with self-service Business Intelligence tools users to evaluate its impact on business and decision-making. Ongoing research helps identify areas for improvement and address any concerns or challenges users encounter while working with self-service BI tools.
In addition, it is important to evaluate the return on investment (ROI) of Predicting cryptocurrency prices with self-service Business Intelligence tools implementation to determine if it is achieving the intended goals, such as improved decision making and improved performance.
Monitor the self-service BI landscape for new tools, features, and trends that can enhance your analytical capabilities and enable you to respond even more effectively to your business needs.
You can rely on experienced data analysts and engineers. Whether you want to integrate an existing self-service BI application or need a custom solution, we’re here to help.
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With more than 7 years of experience in providing business intelligence solutions and experience of more than 450 successfully completed data projects, we understand the important role of effective data usage in business development.
We will process the personal data you provide to us in accordance with our privacy policy. You can unsubscribe or change your preferences at any time by clicking the link in any email. Using business intelligence (BI), businesses can gain actionable insights and make informed decisions that keep them ahead of the competition.
According to Gartner market research, about 80% of research firms use BI and data analysis software. Companies leading the way in adoption include distribution/inventory management, marketing, advertising, technology, insurance and IT services.
Gartner researchers also predict that the BI software market will reach $13 billion by 2025. There are several factors that are driving the rapid adoption of business intelligence by companies, including the need to improve accuracy and consistency of data, from manage risks effectively, and to identify new opportunities for revenue generation.
