Important Facts about Business Intelligence Apps

Business intelligence (BI) is an application that is fed with business data and displays the data in user-friendly formats such as dashboards, reports, graphs and charts. BI tools make it possible for business owners and users business data to access a range of data types.

The data can be historical records, current information or in-house or third-party data. You can also use BI software to access unstructured and semi-structured data such as social media. Use of the information can analyze it in order to get an insight into performance of the business.

Let’s learn more about BI by looking at how the apps work, why BI is important, and how BI supports decision-making in organizations.

The Importance of BI

Business intelligence applications help organizations to become data-driven, improve performance and get a competitive advantage. In particular, using BI in your business can:

· Improve ROI by allocating resources prudently to attain strategic goals.

· Unravel customer behavior, trends and preferences, and use the collected data to set better targets or customize products in accordance with changing market trends.

· Augment supply chain management efforts by monitoring different activities and sharing the results with suppliers and other partners.

· Monitor business activities and make improvements continually by relying on the available data.

BI as a Decision-making Tool

Businesses gain when they are able to fully assess their processes and operations, understand their clients, gauge their market, and drive improvement. BI tools will help your organization by making it possible to get information from any location, analyze it, unravel patterns, and come up with solutions. BI tools help in decision-making by:

· Interconnecting a wide range of data sets and data systems including spreadsheets and databases

· Offering a deep analysis of data, thus helping users unravel hidden patterns and correlations in data

· Presenting results using informative data visualizations such as reports, charts, maps and graphs

· Making it possible to compare different types of data side-by-side.

Suggestion for a Business Intelligence Application

If you are thinking about getting yourself a business intelligence application, you need to try InetSoft’s Style Intelligence. This application is easy to use and can be used on different types of devices including Android tablets, iPads, iPhones and others.