123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

What Is A Business Intelligence Solution?

Profile Picture
By Author: sahrukh hasan
Total Articles: 65
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Business Intelligence has become a buzzword nowadays. Business Intelligence(BI), is fast becoming a reliable analytical tool as enterprises are now more than ever faced with volumes of raw data and the ever-growing challenge of sorting and deriving meaningful insights from the data.

Business intelligence is the process that companies use to analyze past and present data to create business strategies and fuel better decision making to provide a competitive edge.

Setting goals and questions on how to achieve these goals are the primary prerequisites for any enterprise. To arrive at the answers, with the best resource optimization, enterprises need relevant data to monitor performances. They need to analyze the data and create an action path based on the analysis of the data.

Herein lies the role and importance of Business Intelligence.

With Business Intelligence systems and tools, enterprises get a bird’s eye view of the data, sift the relevant data, understand it and then implement it to allow for more strategic business insights.

Implementation of Business Intelligence systems:
• ...
... Raw data from all functions and locations are collected.

• The data is studied, and relevant information is converted into the data warehouse to form data cubes.

• Through the BI system, users can raise queries, reports or use the data for further analysis.

Advantages of Business Intelligence:
Business intelligence helps organizations analyze data. While exploring the data, they have to keep many factors in mind while focusing on increasing productivity and revenue and gaining an edge over the competitors.

Improve Efficiency:
With BI implementation, it becomes feasible to generate reports with a single click, which saves the company staff time and resources and focuses on more productive tasks.

Identify Bottlenecks and Streamline Processes:
BI systems enable the top brass to get a bird’s eye view and view the data more rationally, with the help of presenting data tools like dashboards and scorecards.

BI systems help to identify the problem areas and eradicate them. Automating the process and providing predictive data analytics make the business process streamlined, efficient, and result-oriented.

Proper Selection of BI Tools is Paramount:
The proper selection and implementation of Business Intelligence tools in sync with your business needs are critical to the desired outcome.

For the appropriate and suitable implementation, the IT department and the functional department have to coordinate as both will have different requirements and perspectives. Hence, the decision-makers have to consult and collaborate with all involved.

At a Glance:
• BI comprises process, design, and software solutions that compile raw data and present it as organized information that helps enterprises make strategic decisions and eventually helps improve business performance.

• BI helps enterprises to track current market trends and take future actions based on this information.

• BI systems help streamline functions and enhances profitability and agility.

Conclusion:
Business Intelligence makes it possible to collate data from various sources, investigate the information, process it cohesively, and disseminate amongst the stakeholders and implement or take action. Arming the top brass with this critical information enables them to get an overall aerial view and make better and faster decisions.

Total Views: 250Word Count: 500See All articles From Author

Add Comment

Business Articles

1. Repair And Maintenance Guide For Garden Fencing
Author: Vikram kumar

2. Lucintel Forecasts The Global Palatant Market To Grow With A Cagr Of 5% From 2024 To 2030
Author: Lucintel LLC

3. Choosing The Right Gas Regulator In Florida: A Complete Guide
Author: Technico

4. Why Deer Park Learners Trust Local Driving Instructors
Author: Aintree Driving School

5. How To Properly Install And Uninstall Your Air Conditioner System With A Low Budget
Author: Neha Jain

6. What Is The Role Of Pdca In Iso 50001?
Author: William Charles

7. Step-by-step Instructions On How To Generate Inventory Reports Quickbooks?
Author: Jack Edwards

8. How To Track Employee Work Hours Efficiently With Trackhr
Author: TrackHr App

9. From Grounded To Global: 4 Ceos Rewiring India’s Aviation Sky
Author: Skyone

10. The Role Of Automation In Modern Cloud Migration Methodology
Author: Netscribes

11. Master Photo Retouching | Steps To Become A Photo Editing Expert
Author: ukclippingpath

12. Great Dependability And Performance Are The Reasons For Extensive Use Of Hydro Pneumatic Press
Author: David Camp

13. Best Lasik Eye Surgery For A Spectacle-free Life
Author: Anil Eye Hospital

14. Industrial Oven Manufacturers In Coimbatore
Author: Heatcon Sensors

15. Plumbing In North Salt Lake: Your Guide To Reliable Services
Author: Brown Jones

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: