Business intelligence is basically the technology based process for analyzing, managing your business data and then presenting an important and actionable information to business manager, corporate executives and to the end users also. Business intelligence services are designed to support the process of decision making so that the business managers can take well accurate decisions for their business and can easily increase their productivity. Some major benefits of BI services are listed below:
- Improving accelerating decision making
- Increasing operational efficiency
- Optimizing internal business processes
- Increasing business productivity
- Driving all possible revenues
- Gaining the top advantages for business rivals
Business intelligence solutions can also help companies to identify their key weaknesses, and help to overcome those weaknesses, and also provides the market trends to run their companies according to market needs.
Business intelligence data can include different type of information’s like historical information, as well as new gathered data from source systems as it is generated. This is enabling BI analysis to support both strategic and tactical decision-making processes. Initially, the BI tools were used by the IT professionals to create the queries and reports by doing some major analyses and also used by data analysts to analyze their data. But with the passage of time business executives and workers also starts using BI software themselves. All the people who used Business intelligence services for their companies’ thanks the development team for developing self-service BI and data discovery tools.
Infect BI services combines a wide variety of applications used for analyzing the data, this include location intelligence, cloud and software service BI, Collaborative BI, ad hoc analysis and querying, online analytical processing, open source BI and mobile BI etc. BI systems also include big data analytic tools and data visualization software’s to for designing charts and other infographics, these tools are also used for building BI dashboards and performance scorecards that display visualized data on business metrics and key performance indicators in an easy and understandable way. Data warehouse services are typically used to store Business intelligence. It can also be store in smaller data marts that hold subsets of a company’s information. Further, Hadoop systems are increasingly being used within BI architectures as repositories and analytics data, especially for unstructured data, log files, sensor data and other types of big data. There are many companies that are providing BI services to their clients.