Business Intelligence tools are a type of software designed to retrieve, analyze and report data. Data are what a certain company or organization has. These data are used to tell and direct the members of the organization in the feedback they received upon the purchase of every customer of the company’s products. Things about what your customers are purchasing, what your sales trends are, where your inventory is, what your profits and losses are, and more are some of those needed data.
Business Intelligence also known as BI refers to a variety of software applications used to analyze an organization’s raw data. It describes the tools and techniques that help you understand your data. BI as a discipline is made up of several related activities, including data mining, online analytic processing, querying and reporting. Companies use the Business Intelligence Software in order to improve decision making, cut costs and identify new business opportunities. This so-called Business intelligence is vital for any company looking to excel in today’s rapidly evolving business environment as it gives your company examined information that can guide critical business decisions.
Reporting, analytics and data mining are only some of the functions of business intelligence and with these functions, using business intelligence software is the easiest and fastest solution that will allow you to harvest in-depth data and generate BI reports for internal and external use.
A business intelligence reporting tool provide core reporting features such as report layout, data access and scripting. This business intelligence reporting tool can give you the ability to the following in quick but precise manner: locate company data; connect multiple, dissimilar data sources and define the relationships between data sets; locate specific data using a very user-friendly interface; select data in a narrative style; present meta data; display selected data in a spreadsheet; and generate reports.
The reports made by business intelligence software have many forms; however, it depends upon the reporting software that one uses. Some programs let you create graphical tools such as charts, gauges and dashboards that automatically refresh to display up-to-date information that is easily and quickly understood. Some of the reporting software allows users to use sophisticated tables in order to make their information much more understandable and simpler in a critical manner. Also, they can include the ability to include outer information in which growth and economic trends are the example. This will give you a better grasp on how market forces affect your bottom line.
Business intelligence tools have their own unique differences and some of those differences are in regard with the business intelligence tool’s cost and capabilities. However, these business intelligence tools also have a similarity in terms of their goal. They all have one thing in common: the goal of providing your company with the information it needs in order to thrive in today’s competitive environment.
InetSoft’s comprehensive and good reporting tool platform can be used to create over 30 chart styles including bar, pie, line, curve, radar, waterfall, speedometer, pareto, candle, stock, stick, and bubble. These charts can be customized to show targets, provide desired x/y-axis formats and intervals, and even to show multiple datasets.