6 Key Stages of Business Intelligence: A Deep Dive Into AesirX's Compliant Data Strategies

Feeling overwhelmed by a sea of data? Wondering how to become GDPR compliant and gain a competitive edge? Research shows that companies utilizing advanced business intelligence tools are 23 times more likely to outshine their competitors.[1]

AesirX Analytics and Business Intelligence, powered by Web3 technology from Concordium blockchain, provide you with the tools needed to make informed decisions that propel your business forward while also ensuring compliance with data privacy regulations and business ethics.

Whether you're a data enthusiast, a business leader seeking data-driven insights, or simply curious about analytics, don't miss out on learning about the six stages of business intelligence with AesirX. It will help you choose the right BI tools to grow your business.

6 Stages Of Business Intelligence with AesirX 

AesirX BI simplifies the complex stages of business intelligence into six steps. These are:

1. Data Collection

The first step in business intelligence is gathering data. AesirX Analytics collects the right data from various sources, ensuring a complete dataset for analysis. These data consist of visitor information, demographics, audience behaviors, events, and UTM parameters. They are all first-party data, which is important as privacy regulations tighten and third-party cookies decline.

Additionally, AesirX Analytics operates on a unique user consent model called Decentralized Consent, powered by Concordium blockchain and Shield of Privacy. This means users have full control over their data. They can easily grant, manage, or revoke consent for data collection whenever they want. This user-centric approach is a fundamental requirement for staying compliant, relevant and successful. 

2. Data Processing

One of the important stages of business intelligence is processing data to ensure accuracy and relevance. AesirX meticulously processes the gathered data to cleanse, transform, and integrate it into a usable format. This ensures that the data is accurate and relevant for analysis, providing a solid foundation for deriving actionable insights. Importantly, all data processing in AesirX is conducted solely with customer consent, ensuring full compliance with regulations and maintaining user privacy and trust. 

3. Data Storage

AesirX provides secure and compliant storage solutions, ensuring that the data is not only safe but also accessible for analysis when needed. The integration of Concordium blockchain brings transparency to analytics and business intelligence. Data is encrypted, securely stored, and directly recorded on the blockchain with user consent. With the immutability and traceability of blockchain technology, users can trust that their data is protected, while businesses can rely on the accuracy and integrity of the analytics insights provided by AesirX.

4. Data Analysis

With the data prepared and securely stored, analysis can begin. AesirX examines the data to reveal patterns, trends, and insights crucial for strategic business decisions. By thoroughly analyzing the data, organizations can make informed choices to optimize operations, enhance performance, and stay ahead of the competition.

5. Data Visualization

Data visualization is one of the most important stages of business intelligence. It presents analyzed data in visually compelling formats, such as intuitive dashboards, reports, and interactive charts. AesirX BI visualization integration simplifies complex datasets, allowing stakeholders to quickly interpret key insights and identify actionable trends. 

6. Decision Making

In this stage, businesses generate custom reports and export them in PDF format to gain comprehensive insights into performance metrics, customer behavior, and market trends. This enables them to refine content strategies, implement targeted marketing campaigns, and enhance user experiences with confidence and precision.

Understanding AesirX BI’s Architecture and Components

Business intelligence architecture is the framework that an organization relies on to run its business intelligence and analytics applications. With well-designed business intelligence architecture, organizations can improve decision-making by gaining insights from their data. It often includes:

• Data Collection: Here, organizations start gathering different types of data from their operations. It's important to understand what data each user needs and to make sure the data collected is high-quality and relevant. The quality of the data affects the insights we can get from it.
• Data Management: After collecting data, the next step is managing it. This means organizing and structuring the data to make it secure, easy to access and use.
• Business Intelligence: Lastly, we use the organized data to get important insights about how our organization is doing. These insights help us make smart decisions and plan for the future.

AesirX BI’s architecture includes three components that help deliver a compliant, ethical, and efficient business intelligence solution.

• AesirX Shield of Privacy: This innovative solution gives users control over their data usage via Web3 wallets and Shield of Privacy ID. It ensures that data is collected and used with user consent, increasing data privacy and ownership.
• AesirX Analytics: As the data collection and storage engine, AesirX Analytics collects data from users who have given their consent via AesirX Shield of Privacy. The data collected is securely stored and easily accessible for analysis, allowing for more informed decision-making.
• AesirX BI: A user-friendly interface that allows businesses to access and analyze data collected by AesirX Analytics. This customizable dashboard offers real-time insights into various aspects of user behavior, demographics, event and UTM tracking, and more, allowing businesses to make data-driven decisions. 

AesirX’s Ethical Approach to BI

AesirX BI is distinguished by its strong commitment to privacy and ethical data practices. Its decentralized consent model ensures that data is collected and used only with user consent and in line with global privacy regulations like GDPR and CCPA. 

Moreover, the tool relies entirely on first-party data, a key step as we approach a cookieless future by the end of 2024. By adopting ethical and compliant data analytics, businesses using AesirX BI gain a competitive edge, making informed decisions that drive success.

Understanding the six stages of business intelligence above allows you to confidently recognize that AesirX not only complies with data privacy regulations and anticipates future changes but also integrates decentralized Web3 technology for better marketing and operational efficiency.

Ready to experience ethical data analytics with AesirX BI? Install now with free WordPress, Joomla, and Drupal plugins from GitHub, or explore our pricing options for your specific needs!

---

Sources:

1. The Impact of Business Intelligence and Analytics Adoption on Decision Making Effectiveness and Managerial Work Performance