Business intelligence (BI) is a Tech-driven process. It is used for collecting, storing, and analyzing data produced by a company.
Hence, Business intelligence (BI) software collects these data. And also present them in a simple view.
Thus, this can either be in the form of dashboards, charts, reports, or graphs.
In today’s blog, we will guide you through all you need to know about Business Intelligence software.
But, we will have a major focus on the following:
- Definition of Business intelligence (BI)?
- What is Business Intelligence (BI) Software?
- How does Business Intelligence (BI) Software function?
- Why is Business Intelligence (BI) Software important?
- Types of Business Intelligence (BI) Software.
- Features of Business Intelligence (BI) Software.
- Benefits of Business Intelligence (BI) Software.
- Examples of Business Intelligence (BI) Software. wikipedia
Definition of Business intelligence (BI)?
What is Business Intelligence? Well, Business intelligence is simply a Tech-driven process. It involves the collecting, storing, and analyzing of data produced by a company.
Hence, Business intelligence tools allow users to access an array of data. These data include; historical and current, semi-structured data, and unstructured. As well as third-party and in-house data.
What is Business Intelligence (BI) Software?
Business intelligence (BI) software helps users to collect and analyze data. As well as present these data in a simple form. Thus, they can be presented in the form of dashboards, charts, reports, or graphs.
Hence, this software is used for inquiring about and reporting complex business data. As well as improve productivity, and increase earnings. And also make perfect business decisions as well as gain competitive assets.
How does Business Intelligence (BI) Software function?
Business Intelligence (BI) Software relies on data storage for their data info. Thus, data storage is a storehouse that collects data from several data sources. And then stores them in a unified system.
Now, BI software gathers the info from this storehouse and presents the results to its user.
Hence, this info is presented in the form of dashboards, charts, and reports. And also graphs, or even maps.
Also, the data storehouse has an online analytical processing (OLAP) engine. This tool allows complex queries.
However, recent business intelligence platforms allow users to get direct data. Thus they can do that using tech like Hadoop.
Why is Business Intelligence (BI) Software important?
Business intelligence allows users to ask questions in plain language. And also get responses in plain language.
Hence, instead of making guess this software help present your company’s data in a simple format.
Also, this software help improves performance and gain good assets. As well as helping organizations become data-driven firms.
Having said that Business intelligence software help:
- Boost ROI by understanding the business. And also properly assigning capital to meet key goals.
- Resolve customer conduct, desire, and trends. And also use the tip to upgrade target prospects. As well as create products to changing market needs.
- Control business activities and make positive changes on the current base.
- Enhance supply chain management by controlling activity. As well as reporting results to partners and suppliers.
Types of Business Intelligence (BI) Software
Business Intelligence (BI) Software contains a wide set of data analysis apps. And these apps are programmed to meet different needs.
Hence, let’s have a look at some common types of Business Intelligence (BI) Software:
Online analytical processing (OLAP)
OLAP software allows users to analyze data along different scales. It also allows complex queries and calculations.
Thus before now, data had to be removed from a data warehouse and stored in complex OLAP cubes. Also, you can run OLAP analyses directly contrary to columnar databases.
Operational Intelligence (OI)
This is also known as operational BI. It is in the form of real-time analytics and delivers info to managers. As well as frontline workers in business pursuits.
This software is designed to help in business decision-making. And also to resolve any issues that may occur.
Ad hoc analysis
Ad hoc analysis also known as ad hoc querying is one basic element of modern BI software.
Also, it is a core feature of self-service BI tools. And it also helps in writing and running queries to analyze certain business matters.
This tool uses online computing systems. And it is usually hosted by dealers to deliver data analysis abilities to users.
However, this form of service is priced on a subscription basis. It offers multi-cloud support. Thus this support allows firms to deploy BI apps on several cloud platforms.
Real-time BI software collects, process, and analyze data. And also give users an updated view of business activities. As well as customer conduct, financial forums, and other area of activity.
Hence, this system supports data analytics uses. Thus, they include; stock trading, promo offers, and credit scoring. As well as targeted promotional offers.
This software helps BI apps and dashboards accessible on mobile devices. Hence, this software is created with the main aim of making it easy to use.
Open source BI (OSBI)
This software is open-source and comes in two versions. These versions include a subscription-based version with tech support. As well as a community edition that can be used for free. Hence team members can access the source code for development uses.
Embedded business intelligence tools install BI. As well as data visualization features straight into business apps.
Hence, with these apps installed, users can analyze data within the apps and use it to carry out their job.
Location intelligence (LI)
This allows users to analyze locations and regional data. And it also comes with a map-based data image feature. Hence, it offers insights into geographic elements in business data and activities.
This is the combination of BI apps and collaboration tools. This software allows several users to work together on data analysis. And also share info.
Features of Business Intelligence (BI) Software
Business Intelligence (BI) Software comes with interesting features. Hence, here are some features of Business Intelligence (BI) Software:
This software helps you stay informed. And also get answers to queries asked at regular intervals.
Hence, with this feature, users can gather info from one or more data sources and present it in an easy format.
This feature allows users to notice trends. As well as develop insights with data analysis tools. As well as identifying difficulties and resolving them.
With a user-friendly dashboard, users can survey business activities. And also track key performance indicators (KPIs). As well as develop insight into the historical and real-time context.
This software extracts, transforms, and loads (ETL) data from many sources for reporting. As well as analysis which can be used to create a data storehouse.
Benefits of Business Intelligence (BI) Software
How can Business Intelligence (BI) Software benefit my company? Well, this software offers several benefits and can be helpful to your company.
Hence, there are many reasons why your company should use this Software.
Thus, this software supports several functions like; hiring, agreement, production, and marketing.
However, it is hard to find a business sector that won’t enjoy working with BI Software.
Also, companies can enjoy this software in different ways. Hence, here are some benefits of Business Intelligence Software:
- Increased revenue
- Improved sales and marketing efforts
- A better decision-making process
- Improved customer service
- Fast, accurate reporting
- Increased productivity
- Increased competitive advantage
- End guesswork
Examples of Business Intelligence (BI) Software
Below are top examples of Business Intelligence (BI) Software:
SAP Business Objects
SAP Business Objects Business Intelligence is a unified suite. It is used for data reporting, visualization, and sharing of data
Hence, this software did not make their pricing and plans public. But, if you want to request a demo, visit https://www.sap.com/registration/request-demo.html.
Also, you can visit https://www.sap.com/registration/request-quote.html to request a quote.
Thus, visit https://www.sap.com/products/technology-platform/bi-platform.html for more info.
Datapine is a business intelligence and dashboard platform. It helps you turn data into useful knowledge. As well as encourage data-driven decisions.
However, Datapine also did not make its pricing open to the public. But you can visit https://www.datapine.com/registration/bi to sign up for a free trial.
Better still visit https://www.datapine.com for more info about Datapine.
MicroStrategy is a Business Intelligence software. It offers a vast collection of data analytics abilities. Also, it offers Data visualization, Embedded BI, and Advanced Analytics. As well as Banded Reports and Statements.
Hence, visit https://www.microstrategy.com/en/business-intelligence to know more about MicroStrategy. As well as MicroStrategy pricing and plans.
SAS Business Intelligence
SAS Business Intelligence helps teams create real-time Reports and charts. And also visuals from analyzed company data.
Hence, this software consists of two elements. They are; Business Visualization, and Enterprise Business Intelligence.
Also, visit https://www.sas.com/en_us/solutions/business-intelligence.html for more info.
Yellowfin is a business intelligence reporting and analytics platform. It is a single-integrated solution. And it is developed for companies across varying industries and scaling sizes.
Hence, you can visit https://www.yellowfinbi.com/pricing for its pricing. Also, you can visit https://www.yellowfinbi.com.
- Zoho Analytics
Zoho Analytics is an automated BI and data analytics software. It allows you to analyze your data, and create good data visualizations. As well as find out hidden insights.
Hence, here are Zoho Analytics pricing plans:
25 USD per month (Monthly).
22 USD per month (Yearly).
50 USD per month (Monthly).
45 USD per month (Yearly).
125 USD per month (Monthly).
112 USD per month (Yearly).
495 USD per month (Monthly).
445 USD per month (Yearly).
Other Examples of Business Intelligence (BI) Software
- Microsoft Power BI