Collecting the data from various data systems to use in Business Intelligence Tools and consuming them in an effective manner can be challenging and time consuming. It is significantly important to understand what business intelligence tools offers and the benefits enterprises can get out of them.
It is important to understand why someone needs to use a specialized tool against in-place information systems.
Below are some of the benefits Business Intelligence Tools offers -
- Keeps you up-to-date: Business Intelligence Tools helps decision makers in providing up-to-date view of their business enabling them better understand what they sell, when they sell it and where they sell it. This eventually encourages high levels of customer service.
- Helps improving customer support: Business Intelligence Tools helps organizations to improve customer support and service with enhanced analytical tools. The information translated by these tools enables business users meeting their customer needs more accurately and quickly.
- Superior information exchange: Tools help business to see their business in a whole new light. Usages of a BI Tools across organization help in delivering actionable, accessible, and visually compelling information much needed to make strategic, data-driven decisions
- Enhanced productivity: With the adoption of the Business Intelligence Tools across the organization, business users find it easy to take quick decisions as they can quickly analyze and exchange corporate data with ease in turn increasing the productivity.
- Value-added information tracking: Implementation of Business Intelligence Tools helps instantly tracking various KPIs facilitating in making quick decisions reducing the overall cost.
- Improved information consolidation: With the help of the Business Intelligence Tools business users can see a consolidated information dashboard presenting the snapshot of business performance.
- Greater operational insight: Business Intelligence Tools presents snapshot views of organizational performance across their value chains, presenting greater operational insights and actionable data to decision makers with.
- Reduced administrative cost: Most of the Business Intelligence Tools operates with single metadata and reuse various objects which greatly reduce the administrative overheads.
- High performance: With the help of BI tools, support systems can provide a high performance platform which helps in building and distributing custom Business Intelligence applications that fits the needs of various interfaces like web and mobile. Business Intelligence Tools also enhance the system performance allowing enterprises distribute more information to targeted user population in less time. These tools provide excellent query performance much needed in the challenging environments of rapidly growing multi-terabyte data warehouses.
- Scalability: Some of the tools provide exceptional user scalability which helps in supporting advanced reporting and analysis.
- Powerful analytics: With the help of user-friendly reporting capabilities of tools one can achieve powerful analytics.
- Integration with other technologies: Most of the leading tools are well aligned with the other technologies that enterprises rely on.
- Consistent user friendly format: Business Intelligence Tools provide various options to present formatted information in a consistent user-friendly format.
- Flexibility and ease of use: Standardized Business Intelligence Tools offer the control, flexibility and ease of use across all the departments in the enterprise.
- Serves various business functions: Business Intelligence Tools enable making remarkable improvements in various business functions right from marketing, sales, operations, budgeting and finance, support, customer service, etc.
There are many more benefits which are beyond the scope of this post and might have got skipped from the list. If at all you are thinking of considering any Business Intelligence Tool for your enterprise, you can build your own checklist out of above listed benefits and see if your tools of choice rank well.