Of late, Business Intelligence (BI) has gained tremendous significance across the enterprises. It has the potential to shape an organization’s growth and productivity. BI is a technology driven process for analyzing data and presenting the reports, dashboards, etc. to the respective stakeholders, which assists in taking appropriate decisions to achieve organizational goals.
Enterprises often face difficulty in extracting the right information from the huge data packs available with them. While the Big Data Analytics helps in getting deeper and exploratory perspective of the sea of data available, Business Intelligence presents the data in a more structured and easily understandable way. BI systems richness in dashboard visualization, reporting, performance management metrics and more can be vital to making advanced analytics actionable.
Business Intelligence is associated with several benefits, a few of which are listed below:
Improved Productivity: Traditional methods of gathering information, compiling data and generating reports requires lots of time, efforts, and dependability on several internal departments. By integrating BI applications, the data can be extracted and the reports or dashboards can be generated with just the click of a button, thus relieving employees to concentrate on more productive initiatives.
Accuracy: There is always a risk of inaccuracy due to manual intervention while tabulating and assessing data. The ease in information sharing helps reduce duplication of roles/duties within the organization and improves the accuracy and usefulness of data generated by different departments.
Customer Behaviour: BI helps in gaining insights to the customer behaviour.;
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