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What is Business Intelligence?
Business Intelligence (BI) refers to the set of tools and methods used to collect, integrate, analyze, and present an organization's raw data. Business intelligence is helpful to create significant and beneficial information for the business. BI is most important for business because it can increase productivity & improve efficiency within your business. You can also use BI to share information across different departments in your organization.
Why You Use Business Intelligence Tools?
Business intelligence tools provide a real-time view of the organization and permit for the anticipation of future outcome using predictive analytics and forecasting. These tools can help in business to gain valuable insights to effect growth. Some best business intelligence tools for small & big business are
- Google Analytics
- Hevo Data
- Qlik Sense
- Microsoft Power BI
- IBM Cognos Analytics
Benefits of Business Intelligence
- Improved data quality
- Improved operational efficiency
- Improved employee & customer satisfaction
- Identify market trends
- Spotting business problems
- Reduced costs & Increased revenues
- BI is helpful to take better business decisions
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