Business Intelligence has evolved in the past few decades to offer intelligent business solutions.

In the past, Business Intelligence was a luxury, but now, it has become a need for many growing businesses. How exactly does Business Intelligence software work, and what are its features that allow you to take advantage of the business data? Let discuss about the use of Business Intelligence features and its impact in business.

To begin with, Business Intelligence software solutions offer a wide range of features ranging from reports to charts. BI software, since it is mostly used by business user’s, is designed in a more user-friendly manner for easy access.

With Business Intelligence offered as a SaaSmodel, it becomes even easier to access from any device that can connect to internet. Furthermore, the powerful set of features offered by BI can give business insight that enable to make decisions.

DASHBOARD FEATURE:

The business analytics dashboards is a one-point destination wherein you could overview a synopsis of the business performance. The top executives mostly play an important role in the decision-making process. In order to make a sound decision, most executives rely on numbers and statistics that project the business performance.

Since Business Intelligence tool is mainly developed keeping a business user in mind, it offers capabilities to gauge your business performance in the form of business analytics presented in the dashboard.

The business analytics dashboards present your overall business statistics like sales performance, financial analysis, customer analysis in an easy to understand visualized form.

FORECASTING

Technology shaping the lives of people today is ever changing to the extent of guessing what’s next?

With such a business trend, forecasting is naturally a buzzword for business owners. Forecasting is a most useful feature that is used in Business Intelligence to predict your business. One useful scenario to understand forecasting in business could be, assume a situation, wherein you could make use of BI forecasting techniques to analyze market trends, and align your business goals and strategies to more effectively meet future business demands.

REPORTING

Next critical feature that is a vital part of Business Intelligence is Reports. Business Intelligence software provides functionalities to create reports (business operation reports, cash flow reports, financial statistics reports, ad-hoc reports, customer reports, etc.) that can give insight into a business.

The vast resource of data that is available could be used to gain meaningful insight to measure key performance using reports. These insights give a better understanding of your business that helps to make business decisions.

This article provides a brief overview of business intelligence and the impact of BI features in a business. For more in-depth details on business intelligence software solutions you may like to know about Answergen, that is a popular self-service BI tool, serving businesses to explore their unlimited potential.

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Answergen Business Intelligence. Simplified.

http://www.answergen.com