The primary intention of business intelligence is proper reporting by the use of a dashboard. A dashboard happens to be software applications that bring data together and presents it in the form of graphs and charts to give the immediate state of business (Miah, Shah, & William, 16). Even though it does not instruct business managers on the various decisions to make, it is an essential tool in which managers can examine data to understand the different business trends, thus making proper decisions in a company (Kurahashi, Setsuya, &Hiroshi, 198). Business intelligence can be thought to be a arrange of tools mandated to access and analyze as well as giving insight on the current status of a business.
Primary tools used in business intelligence
Some of the significant tools used in business intelligence include Power BI together with Tableau.
Power BI happens to be connectors, Apps, and software services that are brought together to change your independent sources of data into logical, insightful and visually immersive data (Miah, Shah, & William, 78). Whether your data is in from of one premise hybrid data warehouses, cloud content, or in excel spreadsheet power BI helps to connect with all these sources to discover what is essential, thus helping you make proper decisions.
People use Power BI differently depending on their role in an organization. For example, a person in a company may be using Power BI to view reports on the dashboard, while another person may be using the Power BI to create those reports (Kurahashi, Setsuya, &Hiroshi, 108). Those in the sales departments may use Power BI to monitor sales trends.
Tableau has been considered as the fastest and powerful data visualization tool. It simplifies raw data into something understandable. Tableau conducts data analysis very fast, while the visualization is usually in-form of worksheets and dashboards (Jackson Thomas & Steven, 116). The data derived from Tableau is understandable to any professional at any level. A non-technical user can even create his customized dashboard. The primary feature of Tableau includes Realtime analysis, Data blending, and collaboration of data (Miah, Shah, & William, 134). To operate tableau software, one does not require any technical skills. This tool is greatly being used by people from all sectors ranging from researchers, industries, and businesses. Data analytics presented in Tableau can be divided into various sections, which are sharing tools and developer tools. Developer tools are those tableau tools used for development. They include the creation of charts, report generation, and visualization. Sharing tools are thought to be those tools involved in sharing the visualization, dashboards, and reports.
Business intelligence VS business analysis
Whatever is monitored is also managed. Business intelligence shows the current state of an organization. The company can use this data to analyze the sales they have made in the day or the customers they have lost monthly (Jackson Thomas & Steven, 136). Business intelligence is thought to be descriptive because it informs you of what is happening. While the business analysis can be considered to be predictive. They can tell you what is about to happen and what you should do to have a better outcome. Thus, business intelligence helps you come up with a business analysis.
Business intelligence helps to create efficiency in your organization, thus increasing productivity. It assists in analyzing buying trends in the market. This helps you to come up with products that match the market trend. This ends up bringing profitability into your business.
Business intelligence has also been used by managers to make strategic decisions for a company. When managers get to be informed about sales intelligence and competitive intelligence, they can make essential decisions on how to venture into a new market and win customers.
Very few companies are using data visualization tools. However, those that have made use of these tools have reaped significant benefits because it gives them a competitive advantage over other business (Jackson Thomas & Steven, 200). They always know what to do at any given point. Thus, companies are encouraged to invest in Business intelligence tools.
Kurahashi, Setsuya, &Hiroshi Takahashi. Innovative Approaches in Agent-Based Modelling and Business Intelligence. , 2018. Internet resource.
Miah, Shah J, and William Yeoh. Applying Business Intelligence Initiatives in Healthcare and Organizational Settings. , 2019. Internet resource.
Jackson, Thomas W, and Steven Lockwood. Business Analytics: A Contemporary Approach. , 2018. Print.
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