Statistics MRC predicted that the value of Global Business Intelligence would grow to $29.48 billion in 2020 from $15.64 billion a few years ago, in 2016 to be accurate.
Business intelligence (BI) entails the transformation of raw data taken from various sources into valid and actionable insights using processes, tools, and technologies. This is done to facilitate optimized strategic and operational business decisions, thus giving businesses a competitive advantage in meeting customer demands.
Benefits of BI software to companies include:
- Faster and more accurate analysis, reporting, and planning
- Better business decisions
- Improved data qualities
- Improved employee satisfaction
- Improved customer satisfaction
- More competitive advantage
- Reduced costs
- Increased revenues
- Saved headcount
There is an acute shortage of BI experts in the market and it would be a good idea to source them from the many available specialists in Ukraine. With the strong education heritage in Ukraine, the specialists there have appropriate education, skills, and experience. The education curriculum encompasses a wide range of aspects including data collection, business intelligence, machine learning, computer vision, and artificial neural networks, among others. Ukraine has more than 100,000 IT experts with excellent software skills.
Aspects to consider when outsourcing BI development toUkraine
- A BI should have a wide range of skills including warehouse design skills, SQL expertise, Python, Java and many more. Search for a company with expertise in a broad variety of BI tools and technologies.
- A vendor should have the ability to offer expertise and experience in integrating extensive data with business intelligence. This is especially the case is if a project entails big data storage.
- Implementing data science when there is a need for predictive analysis.
- A company must have a data analyst who is available to render BI reports into insights. This is to enable better decision to be made on strategy and operation.
- Working on on-premise and cloud solutions.
- The ability to handle various sizes of projects.
- Multiple industries with domain knowledge to ensure a better understanding of business logic and effective data analysis.
- Certified developers who have Microsoft and other BI vendor’s certificates.
- A company should have the ability to meet a wide variety of customer demands and employ a custom approach.
Common BI development stages
- Establish the business needs of a customer. The company should work with the available customer needs, analyze their needs and formulate their requirements.
- Analyzing the sources of data and creating warehouse design. A BI developer builds the solution both on-premise and cloud solutions.
- Validating the results after the solutions have been deployed.
- Optimizing the performance of BI solutions.
- At various stages of development, perform quality assurance of BI solutions.
- Solution support and maintenance.
BI developers typically implement a comprehensive data warehousing and report solutions. The existing BI software is customized and integrated to provide a solution that is most suitable for a client’s business problems. A great BI consultant should have extensive expertise in data grouping, extraction, aggregation, modeling, and visualization. In addition, they should also be proficient in the Microsoft BI Stack.
The large pool of talent in Ukraine, whichis both qualified and certified makes Ukraine one of the leading IT outsourcingdestinations. The many benefits that come with them are worth considering.