Question

What is Business Intelligence and why is it needed? Also what are the Business Intelligence tools?

Answer 1

Business In Intelligence is a set of technique where you gather data from different sources and store it to warehouse.

Every company needs to manage large data, collect relevant data and graphically represent to present it to others mostly for analysis purpose. Companies can even detect significant events and monitor business trends so that they can adapt to those new trends. This improves a companies decision making capabilities. Top Business Intelligence tools trending in the market right now are  Sisense, Actuate Business Intelligence and Reporting Tools (BIRT), icCube Domo, Board Management Intelligence Toolkit, etc.

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Answer 2

BI(Business Intelligence) is a set of processes, architectures, and technologies that convert raw data into meaningful information that drives profitable business actions.It is a suite of software and services to transform data into actionable intelligence and knowledge.

BI has a direct impact on organization's strategic, tactical and operational business decisions. BI supports fact-based decision making using historical data rather than assumptions and gut feeling.

BI tools perform data analysis and create reports, summaries, dashboards, maps, graphs, and charts to provide users with detailed intelligence about the nature of the business.

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Answer 3

A simple way to explain this is as follows: business intelligence is a set of technologies and methodologies which allow businesses to transform the data they produce on an operational, day-to-day basis into meaningful information.

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Answer 4

In today's organizational world the biggest problem is analyzing the huge amount of data accumulated. Obviously these records of data are the only ways of determining the progress of the company to start with and can be used for multiple other reasons.
Business Intelligence is the something that allows you to gather relevant data and represent them in understandable way. These visuals can be used to make further decisions that would affect the companies development.
Reasons why Business  Intelligence is used:
1. Smart decision making
2. Better sales
3. Better marketing strategies
4. Improve customer knowledge
5. power up productivity