Introducing a variety of BI intelligence (Business intelligence) software
BI intelligence software includes BI software traditional for analysis and reporting, and Self-Service. BI intelligence software has an important role in improving business strategy and increasing the efficiency of organizational decision making.
In a world where everything works more efficiently with the help of technology, BI intelligence software is a key tool in planning organization strategy and business improvement.
What is BI Intelligence software and how can we take advantage of it to exploit our business data?
BI Intelligence is an application which is specifically for identification and tracking, Analysis, and management of various aspects a business or organization has been created. This computer tool helps people in management and in performing different business processes in a convenient, fluent and effective way.
- This work, is done through better access to valuable information such as business data, business analysis, related statistics and items. BI software allows organization or company to see its strengths and weaknesses and use better methods and strategies to improve them.
Ability to view different types of data at a glance facilitates informed decision making by participating leaders and their business performance in the long term, strongly affects.
If you take a closer look at business management and planning you see that knowing and understanding what BI software is and what can be done through it for your company or organization, is important.
But a variety of tools and business intelligence software is available and it’s important to know what each of them is and what their benefits are so you can plan your own organization with the appropriate strategy to use and implement them. Studying surveys on business intelligence software, provides a better view to exploit the best of these products.
o To choose the best and most suitable BI application for your business you must first answer the following questions:
- What is the business intelligence software?
- Do you need BI software? Which needs of your organization will be responded by BI software?
- How to choose the best software to meet your business needs?
- How to buy and implement BI software?
Thus, in the first step, you should be familiar with the BI application function and know the kinds and types of it so you can make the best choice choose to meet your organization’s needs and exploit it.
Types of software used in business: Below are two main categories of BI software and a variety of products in each group is described.
First group: Analysis and reporting software with specific framework
This group of software which are referred to as “Guided Analysis and Reporting software” are the most common types of BI applications. For many years, there are many managers and experts in various businesses, this style of BI is traditional, especially for analyzing of specific data. This software is for analyzing sales reports, comparing the effectiveness of various marketing campaigns, or even analyze business benchmarks such as key indicators business or KPIs are used.
Once the data was exclusively used to produce specific and predefined reports and statistical reports were used. But today, users can select data, filter, compare, and finally visualize and analyze with the help of various types of tools.
(The IT department is responsible for providing and managing the basic data required by these software and managing and maintaining this group of BI software.)
Types of Guided Analysis and Reporting Software include:
1. Reporting and Alerts
2. Applications based on search or BI Search, which mainly test unstructured data on the Web.
3. Corporate Performance Management CPM: By measuring KPIs, they explain the monitoring, testing, and management processes of a particular business or organization.
4. Dashboards and Balanced Scorecards that have always been in the hands of the third group, the organization’s performance management software.
5. Spreadsheet Integration, such as Microsoft Excel, which adds to the visualization process with their add-in.
Second group: Self-Service BI intelligence analytical software and BI intelligence
This is a group of software known as Self-Service BI Solutions, it is used by both groups of manufacturers and consumers of information. With these tools, users can make their case or ad hoc analyzes on information. Unlike the first group of software, users can add this data to their needs and defining new metrics without the help of experts in the IT department. The application of these software can be used to prepare specific and different reports or to prepare a specific form of the report periodically and repeatedly.
Although Self-Service BI software was prepared with this assumption that there should not be the need of IT personnel for their application. But anyway the IT department is involved in the following applications:
- Firstly, the IT department creates access to the data source as needed and manages the security and confidentiality of the data.
- Secondly, Data sources should be usable by business intelligence tools. Although most resources can be easily accessed by BI tools. But there are always specific resources throughout the organization that are prohibited from accessing them. And this access should be created under the appropriate conditions by IT personnel.
- Thirdly, Data sources should be understandable for business users.
- Eventually, regardless of how much the business intelligence tools look easy to be used. Assistance, training, and IT support for the effective use of business intelligence tools make employees and business executives more productive. And increased return on investment will be on this tool.
Types of Self-Service BI intelligence software include:
- Ad Hoc Reporting and Analysis to get answers to specific business questions, as appropriate and relevant, they are used.
- Data exploration software, usually handled by data mining techniques, is used to search patterns or specific topics in the data.
- Data Visualization Displays data with the help of images, graphs, tables and so on.
Advanced Analysis Software:
Advanced analysis software includes the tools that scientists create data the predictive and prescriptive analytical models. This group includes predictive analysis tools, statistical modeling, and data mining and data mining software. Users of the BI business software can analyze their weaknesses and strengths. Then can use them to more effectively define business strategies and determine how business strategies are implemented.