Business I ntelligence Tool - Smart use of Business Database Lee has 1000 restaurants in the whole United Kingdom region and 20 in the other countries of the world. She has to gather information on sales, inventory and other operations from all these restaurants which receive around 1 million customers a day. The bigger challenge than this is to organize that data and use it to gain more profit in her business. I illustrated this example so that you can understand the need of business intelligence tool or software. This tool is actually application software which is also known as BI suite. Before we go ahead to discuss the features or advantages offered by business intelligence tool, it is necessary to know what business intelligence is. Business intelligence uses knowledge management, data warehouse, data mining and business analysis to improve key data processes which can result into higher profitability. It also keeps an eye on any update of corporate, competitor and market trend. BI suite is application software which uses business intelligence tool that performs all tasks of business intelligence system. Tools of BI suite generate report, analyze the data and represent data in an effective way. The tools are sometimes interlinked with data warehouses where all data is stored in central database. Because of the most advanced feature and accuracy in each task performed, BI suite applications are in high demand in business industry. Features offered by the business intelligence tool vary from company to company. However, all application tools include some basic features which must be a part of business intelligence system. Below are the general features and advantages offered by the business intelligence tools available in the market : 1) Tools offer online reporting service that helps you to analyze your business data and create insightful reports which help you to make better decisions. 2) They create effective dashboard which make your analysis simple and easy. 3) Allow you to share reports within and outside of organization in fractions of time. 4) BI suite tools are generally having universal web browser based interface which is quite user friendly. The application is installed in the main server of the organization and anyone in the whole premise can easily access the software using webforms platform. 5) Reduces the IT cost of your business organization which results in good ROI 6) Traditional business intelligence tools needed complex set ups before we run it but the advanced tools available in the market are generally ready to use and do not require any pre-installations. 7) No special skillet is required to use the latest business intelligence tools available in the market. 8) There is a wide range of affordable business intelligence solutions available in the market thus one can choose on their business size and need. 9) Data sharing is customizable, you can also revoke the access right of the person who no more need access to that particular data. An administrator has all rights to allocate access of data and revoke those rights at anytime. 10) As BI tools are actually application software , no hardware cost and maintenance cost is involved. 11) Inform you regarding each update in the industry you are engaged in. Alerts are giving for the changes in
Published on Jun 1, 2011
Why the need for business intelligence tool is generated and what are the general features and advantages offered by such tools?