BI comes in many forms and covers many types of technologies. This information can help a business choose a course of action in minutes.īI software interprets a multitude of quantifiable customer and business actions and returns pattern-based queries in the data. By aggregating, standardizing, and analyzing this data, businesses can better understand their customers, better predict revenue growth, and better guard against business pitfalls.īusiness Intelligence has traditionally taken the form of quarterly or annual reports that report on a defined set of Key Performance Indicators (KPIs), but today’s business intelligence software tools operate continuously and at high speed. The mountains of data that businesses and their customers produce contain evidence of buying habits and market trends. To make informed decisions, companies must base their decisions on evidence. But all of this data is nothing if we can’t understand it and use it to improve business results. And the ability to integrate cloud software directly with proprietary systems has further increased the need to combine multiple data sources and leverage data preparation tools. Businesses generate, track and compile business data on a scale never seen before. As big data – the trend for businesses to collect, store, and mine their business data – has grown in importance, so has the popularity of BI software.
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