Business Intelligence (BI) is a set of processes, architectures, and technologies that convert raw data into meaningful information that drives profitable business actions. It is a suite of software and services to transform data into actionable intelligence and knowledge.
BI tools perform data analysis and create reports, summaries, dashboards, maps, graphs, and charts to provide users with detailed intelligence about the nature of the business.
BI has a direct impact on organization's strategic, tactical and operational business decisions. BI supports the digital processes implementation and fact-based decision making.
Business Transformation process consists in changing processes, systems, people and technology across the whole business or business unit, to achieve measurable improvements in efficiency, effectiveness and stakeholder satisfaction.
Digital transformation is the profound transformation of business and processes, organizational activities, competencies and models to fully leverage the changes and opportunities introducing a mix of digital technologies accelerating impact across the business in a strategic and prioritized way, with present and future shifts in mind.
Technology fast innovation are driving business to transform the traditional way of work in faster and more efficient processes, using digitalization, expecting that this change will contribute to manage risk and improve cost, performance, quality and safety.
Digitalization can improve processes, providing new methods and opportunities for the business if the digital transformation is evaluated using a value chain business model, considering that the value created is higher than the cost of creating the value. After the transformation, sustainability is a must, so it is required to change the processes and adapt the skills to this new way of working.
Digitization is the process of converting analog signals or information of any form into a digital format that can be understood by computer systems or electronic devices. Digitization term is used when converting information, like text, images or voices and sounds, into binary code.
Data in digital format support the implementation of digital processes.
When all your information is in digital form, your ability to secure your organization’s knowledge drastically increases because you can manage access and level or rights and security for each user, no matter where in the world they are, and you can change it as needed. Most digital storage technologies of today also have audit trails which give you the ability to see who did what to each file, and giving you access to older versions if needed; thus, preserving your organization’s valuable lesson learns and knowledge.
Some benefits as result of digitalization:
Defining the dashboards and using business intelligence will allow you to have a very nice visual appeal to the different levels of the organization that will help you to monitor the performance of your business with a reduction of the administration effort. These dashboards will require the definition of the lead and lag key performance indicators, data collection and analytics tools.
A Key Performance Indicator (KPI) is a measurable value that demonstrates how effectively a company is achieving key business objectives.
Organizations use KPIs to evaluate their success at reaching targets. High-level KPIs may focus on the overall performance of the business, while low-level KPIs may focus on processes in departments such as sales, marketing, HR, support and others.
Paperless Processes consists on the integration of several systems and applications that will reduce hugely the amount of paper.
Independently of the type of business, the need to digitalize business processes is a must to remain competitive.
The total elimination of paper may not be feasible for every business, but even tough even a small reduction may yield cost savings and increased efficiency. There are always advantages to reducing paper usage.
With digital document management, your business will become more productive since you'll manage and find important information faster. Also, paperless processes often can integrate with your enterprise resource planning (ERP), EAMS/CMMS and so many other software’s that you may use to support overall usability.