Business Intelligence And Data Mining
Sinhasoft's custom Business Intelligence(BI) data mining applications provide advanced analytic capabilities that let users easily explore a data set in real time and visually interact with it. Users can make a wide scope of queries and are not confined to a small set of pre-configured reports. For our client's, Sinhasoft's BI analytics solutions are critical tools for achieving the edge in the marketplace, solving management and administration quandaries, and improving performance in a host of areas such as manufacturing, customer service, purchasing, warehousing, sales and marketing, to name a few. In highly demanding organisational environments, decisions based on analytics need to be made quickly and with assurance. With Sinhasoft BI, business intelligence reporting has never been as easy and as powerful.
The aim of Business Intelligence is to support decision making. In fact, BI tools are often called Decision Support Systems (DSS) or fact-based support systems as they provide business users with tools to analyze their data and extract information.
Business Intelligence tools often source the data from data warehouses. The reason is straightforward: a data warehouse already has data from various production systems within an enterprise; the data is cleansed, consolidated, conformed and stored in one location. Because of this BI tools are able to concentrate on analyzing the data.
Techniques Used in BI
When data is stored as a set or matrix of numbers, it is precise but difficult to interpret. For example, are sales going up, down or holding steady? When looking at more than one dimension of the data, this becomes even harder. Hence the visualization of data in charts is a convenient way to immediately understand how to interpret the data.
Data mining is a computer supported method to reveal previously unknown or unnoticed relations among data entities. Data mining techniques are used in a myriad of ways: shopping basket analysis, measurement of products consumers buy together in order to promote other products; in the banking sector, client risk assessment is used to evaluate whether the client is likely to pay back the loan based on historical data; in the insurance sector, fraud detection based on behavioral and historical data; in medicine and health, analysis of complications and/or common diseases may help to reduce the risk of cross infections.
Design, schedule and generation of the performance, sales, reconciliation and savings reports is an area where BI tools help business users. Reports output by BI tools efficiently gather and present information to support the management, planning and decision making process. Once the report is designed it can be automatically send to a predefined distribution list in the required form presenting daily/weekly/monthly statistics.