Features and characteristics of business intelligence (BI)-systems as a tool for improving the efficiency of company activities

Abstract

In the era of the information economic development of society, which is based on the digitalization of communication technologies and software for business administration algorithms, business analytics occupies an important place, a tool for obtaining high-quality, unique, and expensive information, maintaining the global competitive advantages of projects in the face of long-term force majeure risks of the viability of the economy. Since the middle of the last century, information technologies have been in constant development, gradually being introduced into all spheres and strata of society: production, accounting and analytical support, management, analysis, forecasts, risks. This paper considers the tools of digital business transformation and trends within the new knowledge paradigm based on a controlled understanding of the value properties of an information product. The successful use of business intelligence can indicate an increase in the success of the company and the country's competitiveness in the global market. Business analytics of companies is currently undergoing a stage of reengineering due to testing various programs, understanding, and analyzing the database, improving communication interaction at all levels of business processes, and making decisions in conditions of interactivity and transparency. The state of traceability and transparency of information, evolution and dynamics of conclusions and proposals over a long period of the company's activity in the sectoral and global aspect is of value. The features, characteristics, and functions of business intelligence (BI) systems as a tool for increasing the efficiency of the company's activities are analyzed. Business intelligence systems were considered as a tool for data analysis and processing, a comparative analysis of modern business intelligence systems and market trends of business intelligence systems was conducted, because of which the role of BI systems in increasing the efficiency of the company's activities was revealed. Keywords: business analytics, business data analysis, data integration, data presentation, IT sphere, company performance.