There are many types of information that organizations utilize, from standard accounting figures to more esoteric elements such as number-crunching analyses and customer insights.
A critical area of data analysis is Business Intelligence (BI), or the use of software and data tools to predict present and future trends.
One of the most commonly used BI tools is data querying, which allows users to take a close look at their organization’s data to discover important trends and take action on those trends. This tool is available to organizations of all sizes.
Why should you use data querying, and how can it help you to make better business decisions? Let’s take a closer look.
What are data queries?
Business Intelligence queries are used by advanced software that analyzes your company’s data in order to help you discover important insights within that data.
Using these software tools can avoid many of the pitfalls experienced when trying to use just simple spreadsheets. For example, you’ll be able to answer questions such as how much money your organization is spending, how much money you are making, and what factors affect those numbers.
Some of the features offered with business intelligence data queries include associating your current business situations with trends, preparing reports and making recommendations, probing mobile data sources such as tablets or smartphones, querying multiple databases simultaneously, etc.
How data queries work
Data queries can seem mysterious, but they are actually rather simple. Data queries allow you to mine information from your company’s data resources by asking questions. You can then sort through that data to find what you’re looking for and gain more insight into your organization and its performance.
In Domo, there are multiple ways to query data. When building a visualization using the Analyzer, you are querying your data and organizing the results in a way to help you answer a business question. Also, when transforming data using Magic ETL or MySQL, you are setting up queries to return a new and more useful output.
In the Domo Analyzer, once you’ve defined the query, it will return the results based on what you’re looking for. The data will then be presented in a visual form, allowing you to make the best possible business decisions. This can all be done in near real time.
With data query capabilities, you’ll be able to find many of the answers you need to make better business decisions.
The goal of most organizations is to stay ahead of their competitors and be as profitable as possible.
By using business intelligence data queries, you’ll be able to discover trends within your data that will help you manage your business better. When you can collect, capture, and analyze data quickly, you’ll be able to act on that information and take appropriate measures.
How queries can benefit your business
Query processes can make or break a company’s scalability and effectiveness. Here are some of the key benefits that a query can offer:
1. The latest version of your data, every time.
Unless you have a very large database, you probably only have the most recent version in your data files.
However, when you use a query tool, you’ll be able to always work with the most up-to-date information. This is critical for companies and organizations that are working to provide accurate information for a variety of data users.
2. Improved communication with your team members and stakeholders.
With data queries, you’ll be able to collect more accurate data that is delivered faster than ever before. This allows you to communicate more effectively with your staff, who will be able to act on the most up-to-date information available.
When stakeholders are aware of the information you’re working with, you’ll avoid wasting time and resources on guesses.
3. The ability to ask important questions and get valuable answers.
One of the most valuable capabilities offered by queries is that they allow you to ask different questions and receive useful and reliable answers.
Where do we spend the most money?
What types of customers buy our products or services?
How much profit does each customer generate for us?
What events lead to improvement in our numbers?
By using queries, you’ll be able to answer these and many other essential questions that will help you get a better idea of how your business is doing.
4. Improved communication with customers and suppliers.
For example, you’ll be able to create reports that are readily available to everyone involved in the supply chain. This will allow you to communicate more effectively with these stakeholders, which is vital for making business decisions.
Supercharge your BI tools with data queries
Without queries, basic business intelligence tools are only able to provide you with limited information. For example, they can show you that your organization spent $25 million during a certain period of time, but they won’t be able to tell you how much money each customer spent or what portion of total sales came from one department versus another.
With business intelligence information queries, you’ll be able to generate reports containing more accurate data that can be accessed in real-time.
This allows you to make informed decisions and know how your business is doing at any given moment. Rather than simply relying on analysis or projections, you’ll have the ability to access actual figures and see how they affect your organization’s performance.
When you can access up-to-date information quickly, you’ll be able to make proper business decisions and know how your company is doing at any given moment. This can help you avoid mistakes and prevent your business from suffering unnecessary losses.
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