Business intelligence (BI) refers to the set of applications, processes, architecture, and technologies used by enterprises for the purpose of data analysis. It converts raw business information into meaningful insights that drives business actions aimed at higher profits.
According to the BI experts, various enterprises invest in business intelligence services in accordance with their need, business circumstances, and various features of business intelligence solutions.
Some key features of business intelligence solutions include:
- Executive Dashboards
Executive dashboards, also known as personalized dashboards, provide enterprises with relevant real-time overview of business in the form of graphs, charts, summaries, and other report forms. This empowers concerned business executives to make smarter, faster and better decisions.
- Interactive Reports
Interactive reports aid users to convert data into valuable knowledge. It further allows them to gain insights from a pool of data in order to understand the analysis with varied viewpoints. According to the top business intelligence consultants, users can take advantage of other important features like statistical analysis and regression for identifying trends, anomalies and outliers in data.
- Location Intelligence
Location intelligence is referred to as the ability of mapping and visualizing data in geographical formats. It allows business executives and marketers to transform collected information into geographical and cartographic representations. This helps them to understand various business operations like sale per region from new perspectives.
- “What If” Analysis
What If Analysis evaluates past business data and helps enterprises in predicting potential outcomes and impacts. It allows enterprises to assess potential effects of critical business decisions and aids in the formulation of accurate business strategies for achieving set objectives and goals.
- Meta Data Layer
Meta data layers eliminates the need of coding and Structured Query Language (SQL) to make reporting easy. It allows enterprise executives to avail and access information in simple business language.
- Ranking Reports
Ranking report is an important feature of business intelligence solutions. It allows executives to create reports from specific categories of information, multiple dimensions and specific selection criteria. It also helps enterprises in the identification of best and worst performing business aspects.
According to BI consultants, operational reports, pivot tables, Ad-Hoc reports, user specific security, and open integration are some of the other essential features of business intelligence solutions. However, it is important to opt for business intelligence services only from the leading business intelligence service providers having globally recognized certified consultants with rich expertise in building a BI roadmap that caters to the business as well as IT infrastructure needs of enterprises.