As the world is becoming competitive day by day, therefore, business intelligence has become very important. Business Intelligenceis all about gaining useful insights in order to become better. Every businesswishes to gain an extra advantage, and therefore, they tend to gather all the right information and perform useful analytics in order to get valuable insights.
Business Intelligence is all about knowing the critical details about a business. The market of Business Intelligence is growing massively.
Also, it is constantly evolving. However, businesses need a topnotch strategy, talented resources as well high end tools in order to make the most of the data that they gather and convert it into business intelligenceinputs. One of the most used solution for Business Intelligence is Pentaho BI.
Pentaho is definitely one of the most favorite tools when it comes to Big Data analysis and Business Intelligence. It is a self-service BI product which is meant to empower the firms to visualize and understand all the data in a much better way. One of the key applications of Pentaho is to get valuable insights from Big Data which further help to make a lot better data-driven decisions. Pentaho is not a single tool, in fact, it is a group or suite of BI tools. A few of the featuresare introduces by Pentaho development services provider that Pentaho offers include things like OLAP services, data mining, reporting, data integration, dash boarding etc. Therefore, the companies consider Pentaho as one of the mostcomprehensive solution for a wide variety of business analytics requirements. And, mostly companies have to just adopt Pentaho in order to take care of their business intelligence requirements, as it contains a host of features, and it makes it possible to manage BI on a single platform.
Business Intelligence is all about gathering useful data with the help of tools and programs to help the company make better and highly strategic business decisions. However, when it comes to competitive intelligence, it is all about understating your competitors. It is about knowing what your competitors are doing, how are they performing, how are they better or weaker than you etc. Competitive Intelligence is mostly focused on different areas, like competitive research in the field of marketing or sales, or in the field of product development. But, business intelligence matters to the complete business.
However, interestingly, Business Intelligence and Competitive Intelligence are somewhat related, and Pentaho does help the companies to gain a competitive advantage.
Business Intelligence basicallyoffers a much detailed or more informed picture of both the past as well as the existing business and market. It can also include competitive intelligence as gaining an advantage over the competitor is the main focus area of every business. Competitive intelligence helps you gain a better understand of theforthcoming market scenarioas well.
Competitive Intelligence is the collection and analysis of intelligence related to the activities of the oppositions and the market you deal in. It helps to make certain important business decisions. So, in a way, it is pretty much related to business intelligence, but it is just that competitive analysis is mostly focus on the research done on the competitors. Thus, with the help of PI, companies can gather useful information about the competitor. And, then that data can be analyzedthoroughly in order to generate valuable intelligent information.Therefore, there is no doubt about the fact that competitive analysis is important for the company. And, proper analysis through Pentaho can actually help to get a lot of useful information in order to gain a competitive edge.