Why data models lead to smarter business intelligence

Brought to you by the Villanova School of Business

Today’s businesses are able to capture, house and examine tremendous amounts of data, thanks to cloud storage and analytics tools. Robust data models allow organizations to optimize processes and plan for expansion.

Creating data models for business intelligence and putting them into action takes advanced expertise. Analytics-driven businesses need professionals who know big-data tools and are capable of finding strategic insights. A graduate with a master’s in analytics is prepared to create powerful data models that yield vital business intelligence, plotting the way toward success for an organization.

Creating data models

While companies in many industries understand the value of big data and analytics, each one has its own needs. Data modeling is about defining the requirements for quantitative information coming into the business and representing how it will be incorporated into specific processes. Laying out the key relationships across the enterprise, the model shows business stakeholders and IT professionals how information is gathered, analyzed and shared.

Specialists begin with a conceptual model that lays out the system requirements for leadership, taking into account the particular types of data the company collects and how it will be used. From there, they create one or more logical models to show how information should be structured in databases. Finally, a physical model situates the data in tables, including how it will be stored and accessed.

By including robust metadata and carefully considered hierarchies, it’s possible to tailor the handling of valuable information to precisely suit the company’s operations and facilitate communication. Based on the structure laid out in the model, analysts are able to design and implement a database that’s ready to deliver powerful results, customized to fit the demands of the organization.

From modeling to business intelligence

To capture the full potential of big data, organizations must establish the infrastructure and data management that allow them to determine business strategy. Data modeling must be geared to draw actionable business intelligence out of the quantitative information. The business can use descriptive analytics to understand its current situation and plan more effectively for the future.

Getting great results out of business intelligence calls for carefully planning how an organization will make use of its findings, as Harvard Business Review emphasized. Decision-makers begin by developing a clear understanding of where the company stands in terms of its internal operations and position in the market. Then, they can set goals and determine precisely how the company should adjust its strategies.

The organization can stay on track by following changes in the relevant data. Business intelligence reveals where leaders and employees are falling short, and allows the company to make adjustments. With effective data models in place, stakeholders can be confident in their understanding of how strategies are playing out and receive plenty of warning when something goes wrong.

The skills to harness big data

Business intelligence is a major force in an organization. To gather this information, the company needs professionals who have the training to collect, structure, manipulate and analyze relevant data. Just as important, however, is the ability to translate that information into tactics and strategy that suit the needs of the business.

Big-data experts must be knowledgeable about state-of-the-art tools and the latest approaches to descriptive analytics. At the same time, soft skills are also a major asset when looking to establish a leading role in establishing a  data strategy. To guide the company, business intelligence must be presented in a way that leadership can understand why it’s important.

Earning a master’s in business analytics is a means to prepare for creating high-quality data models and discovering meaningful business intelligence. Villanova University offers courses taught by specialists at the top of their fields in building data models, employing analytics methods and managing enterprise data. With a background in solving real-world problems with advanced tools, graduates will discover insights and offer smart, strategic options that produce results for their organizations.

Visit the program page to find out more and learn how you can apply.

 

Recommended Readings:

Sources: 

https://hbr.org/2013/12/get-a-better-return-on-your-business-intelligence

https://www.cio.com/article/2439504/business-intelligence/business-intelligence-definition-and-solutions.html

https://www.ibm.com/support/knowledgecenter/en/SS9NBR_9.1.0/com.ibm.ima.using/comp/bdm/intro.html

http://www.dbta.com/Editorial/Trends-and-Applications/Leveraging-Data-Models-for-Business-Intelligence-and-Data-Warehousing-Agility-71242.aspx