Overview

In this write up, we aim at researching on business intelligence themes. We proceed to analyse the current state of the financial system. We move towards examining the role of business intelligence in the financial system. A section has also been dedicated to tableau training to give a passing reference about the same.

What do we mean by business intelligence?

Business is a discourse of risk. Risk at each and every step can be effectively managed. This is perhaps the aim of business management. However, management itself is a vague term. This is because management is shaped in time and space according to the needs of the individual. But when management is optimised according to the needs of the market to ride along the boom and bust cycles, it becomes intelligible. This is what can be appropriately referred to as business intelligence.

The current financial system

The current financial system is the sum total of various kinds of all the micro and macro sectors which are operating in the market. However, what assumes importance for the purpose of this discussion is the recent trend that the financial system has undergone. The financial market is tailored according to the needs of various countries so that it should comply with the rules of the region. Let us take one brief example. The companies operating in the European union need to make sure that they comply with general data protection guidelines (GDPR).

Role of business intelligence in financial system

By now, it would have become clear what business intelligence is all about. The recent trends in the business market have also been unveiled by now. Let us move on to form a constructive linkage between business intelligence and financial market. We take the help of an analogy here. Suppose there are two businesses, one among them relies on data analytics to direct its investments and the other one uses mere opinions. In near future, if there happens to be a recession in the economy, it will affect everyone but will be much more pronounced in certain sectors.

Thus, by data analysis and business intelligence, a business can stay away from investing in such sectors.

How tableau training will help?

Tableau training will help in plotting the data in a visual format while making it more understandable. In the example cited above, tableau training would give a segregation map of the sectors based upon their effect due to a recession.

Concluding remarks

We can say that the time is ripe to use business analytics and intelligence to scale up businesses and predict the market dynamics at an earliest.