Say Hello to Better Business With BI Software

Say Hello to Better Business With BI Software

Business intelligence (BI) may be thought of as statistics and reports, but true potential for your business lies beneath the surface. BI tools harness the power of your data, which can be used to tackle the biggest business challenges.

Learn how different BI solution categories can meet different business analytics needs, so you can get the most out of your BI software.

Types of BI Tools

BI analytics can be categorized in three ways:

  • Guided Analysis and Reports: This BI category includes traditional BI tools that have been around for years and are used to perform recurring analysis. While this category used to be limited to static reports, it can now be used to filter, visualize and analyze data with different tools.
  • Self-Service BI and Analysis: This BI category includes BI solutions for ad hoc data analysis, which may be a one-time analysis or a recurring analysis among shared users. With this type of tool, users have the role of both consumers and producers, since they are able to add new data and define specific metrics without IT professionals.
  • Advanced BI and Analytics: This BI category includes the tools used by data scientists to create predictive analytical models. This may include data mining, statistical modeling, predictive analytics, and data analytics. Generally, this category is used by data professionals rather than your average business owner.

Buying Analytics Tools

The different categories of BI software discussed here began small, but once different businesses recognized their value, their scope and applications grew. Now, different vendors exist to serve different purposes in the range of BI software applications, so a business owner must determine the best option for their specific needs.

Overall, choosing the right BI software means finding the one that offers the benefits you need, not the one with the most bells and whistles. Business need and best fit should offer guidance and provide you with the maximum benefits.

A business owner should also consider the costs and skills necessary to develop and manage the BI software, since that may influence the final decision.

The Need for Business Intelligence Software

BI software is an investment for a business that offers long-term growth and profitability. Data analysis can not only help a business grow and improve, but it can also aid in the day-to-day management and operations.

While BI used to be reserved for large businesses that required tools to manage large data sets, that’s no longer the case. Past software systems were complex, expensive and advanced, requiring a specific skill set that most businesses didn’t have. Now, BI tools are more approachable and suited to smaller businesses, giving every business owner an opportunity to use their data for growth and profit.

BI Tools From Izenda

Now that you have a better understanding of the different BI tools available and how these tools are used, the next step is figuring out how your business can implement BI for maximum benefit.

At Izenda, we specialize in BI tools with self-service analytics that are designed to move your business further. Find out more about our BI solutions and request your demo today!

Learn More

5 Ways to Use Your Data Wisely with BI Software

Inside Intelligence – How BI Promotes Success

 

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