Business intelligence software comprises a range of data analytics tools designed to analyze and manage data related to your business operations. BI’s rich visualization capabilities allow businesses to monitor sales, logistics, and even productivity–and provides extensive data analysis using richly visualized, intuitive reports.
Are you tired of technology implementations that don’t yield results? Nucleus Research has found that for every dollar invested in business intelligence tools (BI) and analytics, companies earn an average of $10.66 back. Additionally, 74 percent of businesses who fail to invest in BI are negatively impacted.
SelectHub5 Questions Before Selecting Business Intelligence Software Solutions
Business intelligence (BI) has transformed from data collecting and collating into a more advanced discipline, which employs BI tools or solutions to draw inferences from available data. These inferences, or actionable pieces of information, assist you in making informed decisions to improve your business processes. Since BI tools are numerous and variable in both cost and features, they can be difficult to evaluate.
If you’re in the market for a BI solution, it’s vital to know the essential business intelligence features to look for. Here’s our recommended list of the 10 critical features of BI platforms that will help any organization improve their business strategies.
SelectHub10 Critical Business Intelligence Features
If you’ve been in the market for a business intelligence (BI) solution, chances are you’re familiar with many on-site, hardware-based options. While hardware-based BI systems offers remarkable advantages and capabilities, there is another, less-expensive and equally powerful option: cloud-based business intelligence.
Business intelligence software is a powerful, yet complicated technology. Selecting the best BI platform for your business takes substantial legwork. It’s essential that your selection process, including your request for proposal (RFP), is managed well. When you are ready to create a business intelligence RFP, we recommend the following process to make sure you execute the RFP most effectively.
SelectHubBusiness Intelligence RFP Template and Guide
Selecting a business intelligence solution is a unique process for each organization, and what works best for one business may be totally wrong for another. To make matters worse, there are countless vendors on the market, each offering a different solution. Fortunately, SelectHub is here to help.
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.
In recent years, organizations have increasingly turned to advanced software solutions to manage workloads, maintain profitability and ensure competitiveness within their respective industries. While there are several options available, business intelligence (BI) software and business analytics (BA) programs are arguably the most widely implemented data management solutions. Business analysts and software buyers often ask what the key differences are between business intelligence vs. business analytics.
SelectHubChoosing Between Business Intelligence vs Business Analytics Solutions
A great way to jumpstart your BI software selection project is with a quality business intelligence tool selection template that contains the most important criteria to consider when purchasing a BI solution. Our BI requirements gathering template contains a consolidation of key criteria identified by industry analysts and SelectHub users involved in actual BI selection projects.