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Some of these sources include customer relationship management systems, marketing analytics, and data from call centers. Various sources of data are used to develop a business intelligence system. This diagram can be used to explain how a business intelligence system works. The following diagram shows a simple business intelligence architecture. Other functions provided by BI technologies include data mining, benchmarking, business performance management, and prescriptive analytics. These tools provide services such as data warehousing, reporting, data visualization, and dashboard development.Ĭompanies are also using business intelligence tools to predict future performance. This improves decision making in organizations.īusiness intelligence tools refer to the applications, programs, and software used to achieve the objective of business intelligence. The main essence of business intelligence is to enhance the timeliness and accuracy of business information. It is a concept that encompasses the tools, software, and processes that analyze, collect, and integrate data to generate actionable information.īusiness intelligence combines three main concepts with data analysis: data collection, data storage, and knowledge management. Introduction to business intelligenceīusiness Intelligence entails using strategies and technologies to conduct data analysis and integration of business information. This article takes you through 10 powerful business intelligence tools data analysts (and organizations can use) to grow their businesses. Choosing a suitable BI tool can be a daunting task. There is a wide variety of BI tools that organizations can use for business intelligence. With these actionable insights, businesses can make strategic decisions that enable them to grow. Organizations are seeking business intelligence (BI) solutions to achieve competitiveness through advanced data analysis (especially in this era of Big Data).īusiness intelligence tools can enable organizations to collect, manipulate, and analyze data to create meaningful insights. Intense competition in global industries has made businesses seek out ways of managing their business processes for sustained growth.