Business Intelligence was a pretty hot topic during 2018, and it looks like this year the trend is not going to subside. To help you decide whether BI solutions are worthy of your attention, we’ll to consider the main benefits of their adoption for modern business.
In this article, we’ll take a look at how BI solutions work and how they can help you to gain competitive advantages at the market.
What is Business Intelligence and How It Works
First of all, let’s define what’s business intelligence and how it works in a nutshell. Business intelligence or BI is a software solution that consists of a set of tools intended for extracting the essential information from big data. As an example of BI, you can think of interactive operational reports, dashboards, geo-mapping, data analysis management tools of different kinds. One of the main fields of application of BI technologies is the effective measurement and analysis of KPIs and metrics across all levels of a business organization.
With a BI dashboard designed in accordance with the specifics of your business, you can display multiple charts and reports on a single page. Such software solutions help to review and analyze the most important metrics in-a-click. BI software solutions can provide both summary and in-depth views of performance. Now, let’s take a closer look at how this technology works to make all of this possible.