Challenges into Business intelligence

Business Intelligence is one of the pillars of digital transformation. Business intelligence isn’t confined to the big guys anymore. Companies of all sizes can now turn disparate data into a plan of action. However, Cybercrime threatens business growth.

Business Intelligence software helps companies by shepherding the right data into analytical reports and visualizations so that users can make informed decisions. But without the right approach to implementing these tools, organizations still face issues to maximize value and achieve business goals.

Digital transformation offers a solid platform of applications that make it possible to collect information on customers. The most successful organizations support their decision making with BI systems at every level, from strategies to daily operations, generating competitive advantages based on the use of valuable data.

Technology connects not only customers, but also all the machines that produce goods within a plant. Large amounts of production process data are collected through sensors, in such a way that intelligence systems can detect areas of improvement in real time and generate optimized production schedules.

The actual data collected and stored by Business Intelligence systems requires tangible cybersecurity to support business intelligence operations. In this way, business intelligence operations become more economically viable, respected, and better equipped to protect the valuable yet compassionate data generated by IoT and IIoT technology.

As technology advances and our use of it evolves, so does cybercrime and the way criminals capitalise on vulnerable security systems for their gain and cyber-attacks will only become more frequent. The reality is that the best way for businesses to protect themselves against cybercrime is to invest in cyber security.

An expert said, If cybercrime was measured as a country, it would be the world's third-largest economy after the US and China, according to new research from the Cybersecurity Almanac 2022. As per the survey by KPMG among 500 CEOs, 18% said that cybersecurity risk would be the biggest threat to their organization's growth through 2024 -- up from 10% last year.

There is an ever increasing need for a prepared and comprehensive rapid-response capability, as organizations will continue to be subject to cyber-attacks regardless of their best efforts to protect themselves.