Third Generation Business Intelligence: Promise Fulfilled

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What is third-generation Business Intelligence ? Why is it increasingly impacting companies? We invite you to learn about the power of this new methodology to efficiently achieve the value of data.

The impact of third-generation Business Intelligence
Companies that want to achieve competitiveness and need to increase their intelligent decisions to achieve this opt for third generation Business Intelligence .

It is an intelligence that, powered by the latest technologies in Big Data, AI and Analytics, allows companies to achieve their current objectives: discovering data, visualizing it and taking it to the next level .

We know that the search for intelligence is summarized in various periods or currents and that it has received different names: decision support systems, management information systems, data discovery and visualization, business performance management, and, today, Business Intelligence (BI).

The truth is that, until very recently, Business Intelligence hungary phone number lead strategies developed to obtain competitive advantages were very complex or did not meet the modern needs of companies, where there are increasingly large volumes of data in various sources or systems.

Over time, each generation of BI has come a little closer to that goal. However, at this very moment in history, third-generation BI is delivering the power of analytics to all business users in an organization.

In other words, we can finally unlock the full value of data .

The three streams of Business Intelligence
Let's review a little history and see the contexts that the different BI strategies have gone through until reaching the current third generation Business Intelligence .

First generation BI: centralized
Early approaches to BI consisted of complex technology stacks that were responsible for analyzing multidimensional data sets or OLAP data cubes.

These were managed by a central team in the company's IT department and the important thing was the data structured and stored in traditional registration systems.

In this centralized BI model, advanced computing capabilities enabled the analysis of multidimensional data sets, but this was a slow and complex process, dependent on those few who had the skills to manage the analysis.

In this way, analytics only reached no more than 25% of the employees of a given company, which limited the possibilities of data exploitation and, consequently, agility: in first-generation BI, obtaining answers took so much time that they were no longer useful.

Second generation BI: decentralized
The second BI trend was led by Qlik by creating a new category: user-driven BI.

Complexity was removed by stripping out the technical stack of products, including simple methods for preparing and loading data, developing intuitive and interactive visualization, and developing an associative engine that allowed all users to freely explore their data, steer it in any direction, and discover its interconnections.

In this new BI trend, technology has gained the ability to analyze many types of data: unstructured, social, personal data sets managed in Excel.

This created disorganization caused by multiple, duplicate or unreliable data sources, a problem that, fortunately, Qlik platforms were able to overcome.

Another function of second-generation BI was to bring about the emergence of the business analyst, a specialist who creates sophisticated applications to support business processes.

As a result, BI has become widely implemented. However, it is estimated that it has reached 25-50% of employees, which also means that there are still 50-75% who continue to make decisions based on intuition or previous experiences.