In occasions it is difficult to see the difference between Business Intelligence and Operational Intelligence and there are many times when they are used as synonyms. Both methods are based in data, but there are particular aspects for each of them.
Digital transformation is possible because there are intelligence technologies that allow the development and the evolution of the current ways of working. Data is the most valuable element that transforms into rich information that benefits the work flow and the results in the industry.
Business Intelligence and Operational Intelligence are two terms strongly involved in this transformation. In this post we difference one concept from other, insist on the importance of trusting them and establish the relation between them.
What is Business Intelligence
Business Intelligence is foccused on transforming the transactional data of the business itself that implements it into valuable information about it. This information provides knowledge about the current situation that serves to improve the situation in the future through the realization of achievable and realistic objectives.
The valuable information contributes to the process of efficient decision making aimed at achieving economic benefits. All this is closely oriented to improve a company’s competitive advantage.
What is it for?
Business Intelligence adds strategic value to the decision-making process. Making the right decisions is the basis for improving productivity and, consequently, for proposing new more efficient business models.
Why is Business Intelligence necessary?
Nowadays, the high competitiveness in all sectors highlights the need for differentiation on the part of companies. Business Intelligence aims to improve the performance and operation of the company, to maintain its position and even improve it.
Decision-making based on data results into the right solutions much more accurate. Companies are now able to be competitive and so grow the distance with competitors that do not trust new business models.
Business Intelligence benefits
The first of the advantages of Business Intelligence is that it allows to know the strengths and weaknesses of the business, sector or company in question. This is very valuable information, since it can be used to make the right decisions, enhancing the strengths and working on the weaknesses.
Business Intelligence avoid errors repetition thanks to anticipation. Having data and information about past process and obtained results, allows to see what failed to improve ore repeat it in case it was succesful.
In general terms, the main benefit of Business Intelligence is the unlimited access to information, which is later transformed into value propositions for the company.
What is Operational Intelligence
Operational business intelligence provides organizations with data on their processes immediately and in real time, enabling on-the-spot decision making. This type of tool integrates any source of information in real time through intelligible reports.
Its value lies precisely in the ability to process these large volumes of data and analyze them on the fly through different tools to gather, correlate and leverage disparate and seemingly unconnected data for analytical purposes.
Operational Intelligence benefits
Many of the advantages of Operational Intelligence are common to Business Intelligence. Both are aimed at improving production, results and work processes. Among the advantages of Operational Intelligence are real-time data analysis and predictive maintenance.
It is possible to act in advance because the flow of information makes it possible to detect errors that do not result in real problems. Reliance on corrective maintenance is avoided because preventive maintenance is possible. This reduces downtime and operation is continuous, allowing for greater productivity and labor efficiency.
The amount of data that is produced has no value if it is not analyzed. Operational Intelligence not only collects it, but analyzes it in real time so that it can be acted upon accurately by extracting value from it in real time.
Operational intelligence makes digital transformation an achievable reality and an example of this is the Smart Industry and Smart City. In both areas, the benefits obtained are closely related to obtaining data and having that data under control.
The relationship between Business Intelligence and Operational Intelligence
Business Intelligence is the evolution for Business Intelligence. Business Intelligence acts as a consequence of data obtention in a defined past time lapse to achieve better results in the future. It focuses on revenue and profitability, while Operational Intelligence focuses on IT systems. OI acts instantly on data and information obtained in real time.
There is a little difference, but also a great similarity between the two terms. BI focuses on decision making at the enterprise and business level. Operational Intelligence is the optimization of assets and that leads to business benefit.
Operational Intelligence with Nexus Integra
Nexus Integra is the integrated operations platform that encompasses IoT systems and data analytics to deliver digital transformation across all industries. It is a platform that processes data in real time and displays it on a single screen. It is an intuitive and complete tool for the application of operational intelligence in both the industrial sector and smart cities.
Intelligent information management, we have already seen, enables informed and automatic decision making and predictive maintenance. Operational Intelligence with Nexus Integra also provides:
Better user experience
Operational Intelligence improves performance as long as you know how to manage it and understand how it works. Nexus Integra meets different needs and adapts to each client to obtain the desired information and know how to extract the maximum performance from the technology.
Usability from any device
Dynamism is an essential quality in the new ways of working. It is important for data to be accessible from different devices and not just on one.
The Nexus Integra platform is applicable to all industrial sectors and smart cities. It has a modular system and a scalable, high-performance architecture that allows organizations to grow.
Nexus Integra thanks to its API Rest is compatible with other technologies to maximize its potential.
With Nexus Integra you can rely on Operational Intelligence with the highest guarantees to accurately and intelligently measure all the systems involved in your supply chain, and obtain specific data needed to control any production.