Business intelligence is a set of data analytics applications which includes enterprise reporting, mobile BI, operational BI, collaborative BI, and software-as-a-service BI. The technology consists of the software to design charts and infographics, known as the data visualization software. It incorporates many forms of advanced analytics such as data mining, statistical analysis, predictive analytics, big data analytics and, text mining. The business intelligence tool is an entirely data-driven tool which needs data to start the execution process. It provides the predictive views and historical data of the business operations so that an efficient approach can be followed for the productivity of the organization.
How does Business Intelligence work?
BI has the procedural infrastructure for collecting, storing and analyzing the data. Companies use it for supporting the different departmental functions such as hiring, production, compliance, marketing, etc. Business intelligence significantly impacts the decision-making process of the business managers, corporate executives, and other top-level executives in an
Benefits of Business Intelligence
Business Intelligence helps in the discovery of business opportunities, quick action as per market demands, optimized prices, identification of extra costs, etc. Along with that, the tool helps the company in quantifying the relationship with the customers and suppliers. It also includes business process optimization through indicator analysis. The integration of all the processes and interpretation of the data helps the company in reaching its business goals.
Different Types of Business Intelligence tool
Tableau helps even the non-technical users to create dashboards and some other reports to find essential insights. It has the data visualization products that focus entirely on business intelligence.
Qlik offers data operation which is fully interactive and guides the users to explore the data during input, output and processing process.
3. Microsoft Power BI:
Microsoft Power BI has features like predictive analytics, big data integration, mobile access, interactive visualizations, storyboarding thus making it a powerful data visualizer.
4. Oracle BI:
With the help of Oracle BI customers can interact with each other, publish, schedule, send reports and view reports online.
5. SAS Business Intelligence:
SAS Business Intelligence is a good BI platform. It is a fast processing tool where one can see a clear picture of the information.
Prominent BI providers