Business intelligence, or BI, plays a key role in the strategic planning of organizations and is used for multiple purposes, including measuring performance progress toward business goals, performing quantitative analysis, reporting and data sharing, and identifying customer insights.
Business intelligence involves the use of computing technologies to identify, discover and analyze business data to provide not only the current but also the historical and predictive views of data. This makes it possible for decision-makers to access, analyze and understand business information so they can execute accordingly and drive their organizations forward.
To have and utilize business intelligence – that is, to transform raw business data into useful information to drive increased revenue – you need appropriate BI tools. If you’ve previously operated on the belief that BI software is an unnecessary added expense, now is the time to reconsider. In today’s data-driven climate, you stand to lose valuable opportunities without this software. Essentially, you’re putting the success of your organization on the line.
by ERIKA TAYLOR