Business Intelligence (BI) solutions offer a centralized system for storing, organizing, and analyzing all the vital data that shapes your business decisions and helps you drive your business forward.
You can use BI tools to pull regular reports, access real-time sales data, and analyze past and present data to create predictions about how your company will scale or perform in the future. In modern BI systems, reporting, analysis, and visualizations are now available at the fingertips of employees across the many departments that keep your business operating smoothly and growing. Real-time data can help lead to smarter, more expedient business decisions and improve a company from many different angles, across various departments.
Deeper analysis can also unveil important data correlations or trends that would likely not be visible through more manual data management and analysis and give your business strong competitive edge through data-driven decisions.
The top BI features include:
- Real-Time Data and Analytics
- Prescriptive Analytics
- Predictive Analytics
- Big Data Analytics
- Customer Profiling
- Data Visualization Tools and Graphics
- OLAP Integrations
- Data Mining
- Ad-Hoc Reports
- Intuitive Dashboards and Reporting Tools
- Mobile BI Tools
The top benefits of BI software are:
- Increased Data Accuracy and Relevance
- Expedited, Data-Driven Decision-Making
- Increased Adaptability
- Improved Processes through Automation
- Enhanced Competitive Edge
- Improved Insight Into Developing Trends
As AI continues to improve, more business benefits of this technology are being realized, and he implications of AI in business are ever increasing to new height. As this technology makes its way into modern software programs like BI, companies are positioned to experience tremendous growth in innovation and automation. AI is becoming central to key areas of Business Intelligence, including:
- Process Automation and Internal Organization
- Communication Improvements Due to Natural Language Processing (NLP) and Real-Time Language Translations
- Pattern, Voice, Speech, Facial, and Biometric Recognition and Analysis
- Data Mining and Customer Profiling
BI aggregates all your important business data in one system and has powerful predictive analysis features in place that can help you identify trends, spot areas of growth or concern with customers, and make accurate forecasts for the future performance of your company.
Most all BI tools offer the ability to create custom dashboards within the system. These dashboards can be specialized by role within your organization, and can be loaded with the reports, graphs, and other data visualizations that a user accesses frequently for their work. These reports will update according the rules in place, and will save time in running new reports and queries every single time you need the same report, but for a new time period.
The BI dashboard provides quick access to data that you use every day, every week, every month, and more, and can be tailored for easy use and insights by user.
This level of detail, all in one place, makes it possible for you to really see where you have the biggest opportunities with your customers through more personalized sales processes. This year, more and more businesses are leveraging BI to personalize their marketing efforts with rich, in-depth data.