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Business Intelligence tools are used to provide insights from data. With the tools companies can track various user defined KPIs. Business Intelligence tools drive data driven decision-making processes. Availability of the business Intelligence tools on cloud enables fast and real-time access to crucial data in spite of location. Data can be integrated and formatted from different sources and this enables managers to run various ad hoc reports.
Improved business processes leads to enhanced efficiency and productivity. Business intelligence tools enables seamless scalability of users across various business enterprises -from single users to hundreds of users without significant shift in costs.
The tools allow the integration of powerful reporting software. Reports can be customized for usage by customers, board directors, managers and personnel. BI generated charts, graphs and visualization can be integrated with existing customized applications. Insights are provided for both historical and real-time data. Resulting reports can be exported in various user-defined formats like Excel, PDF or PowerPoint presentations.
Users monitor various analytical metrics from a user-friendly dashboard that can be customized to suit user-preferences. This real-time access to crucial data enables decision-makers to take action as it arises. In the end, BI tools are great for mitigating risk and enhancing efficiency. Centralization of the company’s database promotes collaboration between different departments while eliminating the duplication of resources.
Most of the Business Intelligence tools are open source and this allows for customization and integration with other applications. Data is arranged in columns with users having access to various analytical filters. Analysis reports produced can be shared to colleagues through email at scheduled intervals.
Business Intelligence Framework deals with the way end users view solutions integrated in the BI tools. End users can be managers, employees, board directors or any other key decision maker. The business architecture framework divides this views into three. The framework will start with data sourcing from existing internal integrated software like ERP or CRM. The data can also be sourced form external sources. The next stage is the data warehousing phase where data is extracted and uploaded.
What is Business Intelligence Framework
Analysis of the data takes place thereafter through various analytical techniques like reporting, monitoring, modeling or visualization. The Analyzed data is then grouped into various departments that will consume it like HR, IT or Finance. The end users like managers, directors or frontline employees are then able to use the data for decision making and implementing crucial policies.
The BI framework always tries to simplify data outsourced and present it to the end-user in a form that is comprehensible. To improve Business intelligence existing processes are embedded into the system. This ensures seamless flow of information. There are three ways in which business intelligence is delivered – unstructured investigative, structured investigative and embedded. In the first way the end users are business analysts and they are provided with a comprehensive database that enables them answer some of the non-recurring business questions.
This is done through visualization, mining and modeling. In the structured investigative insightful reports are presented to end-consumers and this lets them get answers to recurring business questions. In the embedded view information is continuously pushed to end-consumers and this enables them to measure set objectives and final results. The last part to business intelligence architecture is the analysis part.
Various applications are used to dig further into the data set by giving answers to vital questions. Each depart in an organization has a list of queries that they want answered. HR may need to know areas where they need to do streamlining while finance may what to understand how they can boost shareholder value.
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