Business Intelligence (BI) is one of the terms that juggle air conversion operations. However, the core role of this technology is to facilitate decision making. Like a good spy, after being deployed, it helps “handler” in making information based on information. Until now, business intelligence applications are limited to large and medium companies, but the technology has gained popularity. BI promises the type of information that supports every business manager or decision maker can be used. This article provides a general description of this strong potential business tool.
What is business intelligence?
Simple answer is no single definition used universally for BI. Developers can define technology in a way that supports the features of their own brand business intelligence software. Apart from the exact words of a definition, the following applies to BI Brands:
BI is not a single tool. Most often, this is a collection of related technologies, tools and functions. These components explain why this technology is often characterized as a system.
The core function in the BI system is to collect, coordinate, and change data into information efficiently. Not surprisingly, the more integrated software, the more diverse data analysis capabilities.
The application of BI can be adjusted to suit the needs of the company and industry.
In essence, business intelligence is what makes your company – depends on use and function.
What is the main component of the business intelligence system?
What a BI system varies by developers. However, most of the integrated systems have the following tools and functions:
Data management tools to collect, cleanse, integrate, and analyze transactional and operational data from various sources;
Query tools to ask questions from databases;
Reporting tools to produce ad hoc reports based on query or query series;
Analytical tools to produce projections, estimates, and create alternative scenarios;
Search tools to find information, find the underlying pattern, and add analysis;
The dashboard function provides to see fast and share results.
What is the desired quality in the business intelligence system?
Given the relatively high costs to use, run, and maintain the BI system, it is important that the product you choose has the following qualities:
Ease of use, especially from the point of view of primary users who are intended at the company.
Customization flexibility, to increase the best opportunities to adopt success
Most suitable for company needs and existing systems, to increase ROI from technology
Conclusion
Competitive environment currently requires companies to agile in all aspects of business operations. Only a few will debate the benefits of having business intelligence technology as part of the performance management toolkit of a company. Insptrainable properly, BI tools and functionality increase timeliness, objectivity, and transparency of business decisions. However, realizing these benefits depend on how well the products are selected according to the company’s specific needs.