Through data analysis, analytical processing and data mining, business intelligence tools fulfill a comprehensive range of business data needs. Organizations that adopt it benefit from actionable, understandable data they can use to optimize business performance. BI streamlines operations, reduces workloads, and improves productivity — and achieves all this through the following critical BI capabilities.
1. Data Analysis and Collection
All BI software features, functionalities and capabilities focus on data. BI software constantly collects and analyzes data, ultimately providing valuable, actionable information that you can use to improve your organization’s operations.
See the difference between business intelligence vs. business analytics.
2. Data Lineage Tracking
Data lineage tracking creates a complete, ongoing record of system activity, ensuring that you can trace all data to its source. Think of it as a thumbprint.
The intuitiveness, easy administration and simple implementation of BI infrastructure allow you to streamline work processes and ensure smooth workflow collaboration.
4. Cloud Deployment
The cloud deployment environment offers complete customization in terms of size, storage, functionality and access — in a word, scalability. This is a significant advantage that allows you to minimize or expand your system according with your business needs.
5. Customer Service
BI software generally provides help desk support, allowing you to quickly and thoroughly address any issues that arise during daily operations.
BI integrates and works with your existing infrastructure including 3rd party data warehouses, internal SQL server configurations and other data sources. Full integration also means that data processes are intuitive, simple and easy to deploy through your system’s dashboards and collaboration platforms. Find out which integration features are important for your company using this interactive template:
Through business intelligence, you have the ability to generate accurate and thorough reports on any facet of your business’s data. For example, having self-service BI reporting on financials, goal management, productivity and customer service data to help in many areas of the decision-making process. These reports are intuitive and richly visualized, which means that all levels of staff can understand the information and act on it.
8. Dashboard Management
By offering employees a common interface through which to perform tasks, interactive dashboards ensures easy collaboration and increased productivity.
9. Intuitive Use
With little to no training, employees learn to use BI tools in a very short time, ensuring that your organization’s workflow experiences minimal interruption.
10. Information Delivery
With seamless, streamlined information delivery, BI applications makes sure that vital information reaches all the right people at the right time and place, e.g. delivering real-time data on mobile devices, minimizing delays and the potential for error due to inaccurate or missing information.
11. Workflow Collaboration
Workflow collaboration creates simplified workflow processes via a single common portal. Solid workflow collaboration results in better efficiency and productivity.
12. Predictive Analytics and Modeling
This capability allows your business to predict market trends, staffing needs, sales, profits and losses, to name just a few. BI extracts this information by analyzing a vast set of data, ensuring reliable and usable information.
13. Interactive Data Exploration
In addition to report generation, BI allows for unguided exploration of data. This can be useful in a variety of situations where reports may not be needed.
BI’s rich data visualization ensures actionable, thorough and accurate reports that provide intuitive information on all facets of your business.
Through benchmarking, BI software analyzes your business’s performance relative to its competitors, so you can target and repair your business’s weak areas.
With an API, Business Intelligence software pushes application data directly into your data set. In short, this makes it incredibly easy to integrate and use new functions and capabilities into your existing BI solution.
Business intelligence is a powerful, dependable solution that offers many advantages, helping your organization to stay competitive in this fast-changing business environment.