Business intelligence (BI) is software that ingests business data and presents it in user-friendly views such as reports, dashboards, charts and graphs. BI tools enable business users to access different types of data — historical and current, third-party and in-house, as well as semi-structured data and unstructured data like social media. Users can analyse this information to gain insights into how the business is performing.
Business intelligence helps organizations become data-driven enterprises, improve performance and gain competitive advantage.
The best BI software supports this decision-making process by:
Create and analyze sophisticated plans, budgets and forecasts based on business process with small to large data sets. Integrated scorecards and strategy management – Model metrics to measure progress toward objectives and link them dynamically to actions and forecasts.
Business Intelligence integrates reporting, modeling, analysis, dashboards, stories, and event management so you can understand your organization’s data, and make effective business decisions.
Financial Consolidation & Reporting supports the close, consolidation and reporting process with the agility and affordability of an integrated solution.It also helps finance teams deliver financial results, create informative financial and management reports and provide the Chief Financial Officer (CFO) with an enterprise view of key financial ratios and metrics.
A data warehouse, or enterprise data warehouse (EDW), is a system that aggregates data from different sources into a single, central, consistent data store to support data analysis, data mining, artificial intelligence (AI), and machine learning. Simplifies ongoing integration tasks and new app development. Ensure consistent master information across transactional and analytical systems. Addresses key issues such as latency and data quality feedback proactively rather than “after the fact” in the data warehouse. Data warehouses are solely intended to perform queries and analysis and often contain large amounts of historical data.
KPI is a quantifiable value expressing the business performance in a shorter time-frame level. They are used in different industries to track organizational processes, improve efficiency and help businesses to understand and reflect on the outcomes. When a business is measuring the effectiveness of a process, often metrics and KPIs are established to perform the evaluation and analysis.
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