Modern business analytics tools for business management
DOI:
https://doi.org/10.58423/2786-6742/2022-2-184-195Keywords:
innovation, business analytics, management solutions, Microsoft Power BI, Tableau, QlikAbstract
The modern dynamic business environment requires the use of information and software tools for business analysis in order to achieve maximum efficiency in the business process. The article considers the essence of the term "Business Analytics" as a set of computer methods and tools that ensure the transformation of business information into a form suitable for business analysis in order to make managerial decisions. The main classification features of information and software tools for business analytics are considered. Depending on the performance of a certain set of functions or operations, business analytics tools are classified into means of building data warehouses; operational analytical processing systems; information and analytical systems; means of intelligent data analysis; tools for performing queries and building reports. Depending on the use, software tools for business analytics are divided into two categories: end-user tools for reporting, queries and analysis; data extraction tools and statistical software. A review of software products that are leaders in the market of BI systems was carried out. A comparative analysis of business analytics tools, which are innovative for the Ukrainian market, was conducted. The key trends in the development of business analytics are outlined: the use of SaaS BI; use of open source solutions; data conversion into a format accessible to analytical tools; visualization of information presentation in analytical systems to simplify work for end users. The development of business analytics systems for a prospective period of time involves: integration of BI systems directly into software products; development of "Natural Language Processing" technologies; fusion of BI systems with machine learning; the ability to create stories using data - storytelling; growing popularity of working with BI systems on a smartphone; generation of interactive reports in real time. The practical result of using business analytics tools makes it possible to make reasonable management decisions in terms of risk-oriented management of the company.
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Copyright (c) 2022 Viktoriia Makarovych
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