Modern BI means bringing together data coming from different sources and searching for insights that solve some issues from the company’s business perspective. In contrast, traditional BI used to be geared more towards managing the company’s data volume.
Modern BI can be used by any company nowadays, it is no longer purely an enterprise issue as it is no longer linked to large budgets. A number of startups and small businesses in particular are turning to BI to develop their own data-driven business models or to convert the data they already have into cash altogether.
From a technical perspective BI is made up of 3 components:
- Data integration – data coming from different systems is merged and the so-called data silos are overcome this way.
- Data warehouse – central storage space, which does not necessarily have to be a database, that will be serving as a single source of the truth.
- BI frontend, including dashboarding, visualization, reporting – software developed to answer specific questions.
Architecturally, a lot has changed as well. The monolithic solutions of yesterday have been replaced by modular solutions. We are speaking of a modular design with the use of flexible interfaces. Anything can be connected to anything else, with no more annoying lock-in effect.
If you would like to know more about modern BI, we invite you to a no-commitment discussion. As a vendor-independent BI tool implementation service provider who has worked on several international BI projects, we are at your disposal with our expertise and are looking forward to our potential collaboration.
