Business Intelligence
BI(Business Intelligence) is a set of processes, architectures, and technologies that convert raw data into meaningful information that drives profitable business actions. It is a suite of software and services to transform data into actionable intelligence and knowledge.
BI has a direct impact on organization’s strategic, tactical and operational business decisions. BI supports fact-based decision making using historical data rather than assumptions and gut feeling.
BI tools perform data analysis and create reports, summaries, dashboards, maps, graphs, and charts to provide users with detailed intelligence about the nature of the business.
Here are some of the advantages of using Business Intelligence System:
1.Boost productivity
With a BI program, It is possible for businesses to create reports with a single click thus saves lots of time and resources. It also allows employees to be more productive on their tasks.
2. To improve visibility
BI also helps to improve the visibility of these processes and make it possible to identify any areas which need attention.
3. Fix Accountability
BI system assigns accountability in the organization as there must be someone who should own accountability and ownership for the organization’s performance against its set goals.
4. It gives a bird’s eye view:
BI system also helps organizations as decision makers get an overall bird’s eye view through typical BI features like dashboards and scorecards.
5. It streamlines business processes:
BI takes out all complexity associated with business processes. It also automates analytics by offering predictive analysis, computer modeling, benchmarking and other methodologies.
6. It allows for easy analytics.
BI software has democratized its usage, allowing even nontechnical or non-analysts users to collect and process data quickly. This also allows putting the power of analytics from the hand’s many people.
