Cardano
The Relationship Between Business Intelligence and Data Management
With the continuous growth of data flowing in the digital world today, BI tools are becoming more sophisticated
Business intelligence refers to the various applications, tools, and processes used to analyse data and provide information to assist organisations in making better business decisions. It can be used in a variety of ways, including increasing company income, enhancing operational efficiency, and increasing customer happiness. Companies can use BI to design systems depending on what data they can acquire and what they intend to achieve in the end, allowing them to gain a competitive advantage in an ever-growing industry. Irrespective of the company’s size, industry, or desired objective, the goal of using BI is to help firms make better decisions and boost their overall performance.
Data management is a subset of business intelligence that comprises a wide range of applications utilised throughout the BI system. Data management entails a cycle of gathering data, guaranteeing its accuracy, integrating different types, and managing the overall data management approach in line with the business goal. Effective data management procedures are critical to the success of any business intelligence solution.
Since its conceptual beginnings in the 1950s, business intelligence has grown significantly, and you must recognise that business intelligence is not only for major corporations. We are currently in an era where small structures, like start-ups, are much more prevalent, and most BI providers have recognised this shifting dynamic and are modifying their software to meet the needs of customers. This is especially true for SaaS, or Software-as-a-Service, providers.
Another difference is that it is no longer as complex a tool as it formerly was. Sure, it’s still a professional tool; data administration is difficult to work even with the best system on the planet. Having said that, with the introduction of the Cloud and SaaS in the early twenty-first century, BI has grown into something much more accessible than local software, which used to need installation on every system in the organisation; an installation that may represent a substantial expense. Business Intelligence tools and data management have gotten more practical and accessible to end-users as the SaaS and Cloud world has evolved.
Data management has a significant advantage for BI. With the continuous growth of data flowing in the digital world today, BI tools are becoming more sophisticated and can more readily model data, providing firms with a huge competitive advantage.
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Popular Cardano-based decentralized exchange WingRiders has lost its position as the most valuable DEX on Cardano.
WingRiders slumped from the first position to third after losing more than 59% of the total value locked (TVL) on the platform in the past 30 days.
At the time of writing this line, WingRiders is now the third-largest DEX by total value locked, with a TVL of $19.66 million. It is noteworthy that WingRiders maintained the top spot for more than two months, claiming 42% of TVL On Cardano. However, the DEX has fallen from glory ever since.
Minswap Is Now Cardano’s Most Valuable DEX
The development also affected the total value locked on Cardano. The total value locked on Cardano has fallen below $100 million in the last 30 days after the WingRiders TVL slumped.
Interestingly, Minswap has taken the lead to become the most valuable decentralized exchange on Cardano after the massive decline of WingRiders’ TVL.
At press time, Minswap is leading, with a $49.09 million total value locked on the platform. The DEX hit the milestone after recording a massive growth of 30.9% in its TVL in the past 30 days. Minswap accounts for 51.82% of the total value locked on Cardano.
SundaeSwap, the first decentralized exchange on Cardano, is now the second most valuable DEX in the ecosystem. SundaeSwap is second in the ranking, with $19.72 million in TVL.
Like WingRiders, SundaeSwap has also lost a significant amount of its TVL over the past 30 days. In the past month, SundaeSwap has lost nearly 10% of the funds locked on the platform.
Commenting on the development, Cardano Daily, a platform that shares new developments about Cardano, said:
“After the major decline of @wingriderscom, the TVL scenario of the Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem.”
CARDANO TVL STATUS
After the major decline of @wingriderscom, the TVL scenario of the @Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem#tvl #cardano $ADA pic.twitter.com/xjZ6cHo8jX
— Cardano Daily (@cardano_daily) August 9, 2022
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