Did you know 26% of the companies globally have adopted BI (Business Intelligence) as per EnterpriseAppsToday data?
The reason for the growing demand for Business Intelligence is that the software can create insights into the business data and present it as reports, charts, dashboards, and graphs in a user-friendly manner.
What is Business Intelligence?
It is a technology-driven process helping in data analysis and delivering actionable insights to organizations. Hence, the utilization of BI impacts directly an organization’s strategic, operational, and tactical decisions.
What are the types of BI analysis?
The Business Intelligence (BI) analysis can be segregated into 4 categories. These are Descriptive analysis, Diagnostic analysis, Prescriptive analysis, and Predictive analysis.
Overall, these are the four types of analyses that are used to drive decision-making from tactical everyday tasks all the way to key strategic business decisions.
How does the BI tool work?
The business intelligence software follows four steps for transforming raw data into actionable business insights.
These are the 4 steps the BI system takes to help companies to transform data into actionable insights.
5 benefits of Business Intelligence tools
With the help of a Business Intelligence tool, companies can turn the raw data into something useful for decision-making purposes in real-time.
With these advantages, BI helps in driving better business decisions that enable organizations to increase their operational efficiency, and revenue and most importantly gain competitive advantages over other businesses.
Organizations are gradually understanding that effectively employing BI tools and technologies can convert their business data into valuable information or insights. These insights can be used for making more informed decisions that can accelerate business growth and higher profitability.
Nowadays, organizations in every business sector need to manage and monitor their data. Youngsoft can help you to make better and faster decisions with diverse BI tools like Microsoft Power BI, Tableau, and SAP BI. Being an experienced Business Intelligence & Analytics service provider, Youngsoft can help you with analyzing customer behavior patterns and market trends, optimizing track performance, while ensuring smoother workflow.
Founded in 1996, in Michigan, Youngsoft Inc. is an information technology company specializing in IT consulting, and staffing. Over the past two decades, the company has delivered cutting-edge tech solutions like AEM, Liferay, Business Intelligence, and more to a global clientele. With a futuristic vision, Youngsoft has spearheaded innovations in Healthcare IT solutions and implemented Industry 4.0 in a Box program, a flagship IIoT initiative in partnership with AWS (Amazon Web Services).
Let’s discuss Business Intelligence in more detail!