ANALYSIS AND PROSPECTS OF VICORISTAN IT PRODUCTS FOR BUSINESS ANALYTICS IN THE MINDS OF THE DIGITAL ECONOMY

Abstract

This article is aimed at analyzing and substantiating the prospects for the development of IT products in the field of business analytics in the minds of the digital economy. The process of digitalization and the digital economy are closely related and interact in synergy, leading to mutual growth. Digitalization includes “the development of digital technologies, data and interconnections that lead to new or even new types of activities.” The advancement of digital technologies allows companies to operate more efficiently, expand their audiences and introduce innovative digital products and services that are consistent with digital economic growth. The rise of digital products, coupled with information technology (IT), is of great importance in the current business landscape. IT products play a key role in collecting, processing and analyzing data to extract valuable information for decision-making. Include analytics and business intelligence (ABI) products in your warehouse, including products with specific capabilities that are periodically updated according to the consumer market and consumer demand. Previously, the main characteristics of ABI were the ability to analyze business data to generate business intelligence. However, in the end, the visualization of data is of great importance, since software products have the greatest power in this area. In general, visualization of data helps to enhance the understanding of the data, facilitates the acceptance of solutions and promotes the effectiveness of data analysis. The article analyzes the tools that are used for collecting, processing, analyzing and visualizing data. An analysis of the strengths and shortcomings of daily analytics tools is presented. Power BI is a more budget-friendly option, especially suitable for those who are already part of the Microsoft ecosystem. Tableau is expensive, it demonstrates the miraculous capabilities of data visualization and the flexibility of efficient processing of large data obligations. Vin offers a wider range of data integration. It is clear that companies are likely to use Tableau and Power BI to improve data visualization and combine both products.