The overall purpose of the business intelligence (BI) software is to make discovery and analysis of processes easier for end users or decision-makers at every level of an organization. Business Intelligence solutions allow decision makers to make decisions quickly since data is interpreted in a simpler format. Hours of analysis can be done within minutes now.
Analyzing and understanding spread sheets at times can get complex. Your boss tells you that the meeting has been rescheduled to an earlier date. How do you interpret and come up with relevant conclusions quickly? There is a simple solution, find yourself an appropriate BI suite. This suite usually includes business intelligence applications that enable users to easily analyze information, plan ahead, report and manage dashboards.
Every organization large or small has large quantities of data which needs to be simplified. A good business intelligence open source software helps users to analyze the data by making sense of it all. Make sure you install a central BI server that supports GPU processing technology. This server instantly integrates data from every source for instance financial accounting products like SAP, SAP BW, SQL Server Oracle and more. End users can write comfortably from their web browser, mobile device or excel sheet and prepare documents as done by them earlier.
There are several categories of BI tools such as spreadsheets (excel sheets), OLAP, Digital Dashboards, Data mining, Data warehousing and local information systems among other. OLAP or Online Analytical Processing refers to swiftly solving multi-dimensional analytical queries. This module is a high performance data server application that enables workers in a firm to access, change and collaborate on BI data immediately.
As for digital dashboards they help to track down the inherent flow of processes. It begins with complex high-level processes into simpler low-level data. These days three kinds of digital dashboards are popular – web browser based applications, stand-alone software applications and desktop applications.
Staying ahead of your competitors is the first step. With BI software know the latest trends, how to generate more revenue and other crucial steps being carried out by your competition. Without this knowledge you are not in a position to make the relevant changes. Data mining helps decision-makers gather information in a timelier manner. The software will check with newspapers and trade journals for the latest happenings in a particular field that keeps you updated and informed. BI system allows decision makers to face the most difficult financial times with greater confidence.