Business intelligence can be described as combination of methodologies, processes, architectures, and technologies for transforming raw data into meaningful and useful information t be used for more effective strategic, tactical, and operational insights and decision-making.”
Business Intelligence (BI) tools can help companies monitor data and also in generating business insights. By using BI tools, businesses become smarter and enterprises can make better decisions which would increase productivity. Organizations that want to use business intelligence tools must consider the size of their company, departments as well as teams. Other than that, success factors that influence the decision-making of a company must also be addressed to know what is working for the organization and what is not?
- Are you looking at simple few person BI tool, or tool for organization with 50-100 or more people, with strong user access control?
- Do you prefer building reports with drag-and-drop interface, or you prefer writing SQL?
- How much is strong visualization important for you? Or do you prefer something that works with finer details of data.
- Do you have a data-warehouse? How much data do you have, and will this reporting tool host the data for you?
- Do you need to deliver data/reports to external stakeholders via email or remote folder?
- What’s your budget range?
BI has been proven useful for business organizations in the following ways;
- Get a quick solution for critical business complexities.
- Align business activities according to corporate strategies and tactics.
- Employee Empowerment
- Reduction in data manipulation time.
- Get insights into customers
- Recognize critical areas for cost estimation.
- Enhance business productivit
ln essence BI provides faster and more accurate reporting, analysis or planning; better business decisions; improved employee satisfaction and improved data quality top the list. Benefits achieved least frequently include reducing costs, increasing revenues and reducing IT headcount.