Business intelligence (BI) is the application of analytics to improve decision-making. It can be considered a subset of data science and machine learning, as it involves the application of techniques to analyze data, intending to discover new insights or better decision-making.
It has been described as the ‘next frontier’ for organizations in the 21st century, as the technology to enable the development of this is becoming more accessible. The concept of business intelligence was first introduced in the late 1980s, with the term being coined by Michael Hammer, founder of Business Objects.
There are many different types of business intelligence, which can include:
- Data warehousing
- Online analytical processing (OLAP)
- Business process management (BPM)
- Decision management (DM)
- Analytics
The goal of BI is to make information available when it is needed and to provide users with the means to understand and make use of this information to improve their decisions. It is based on data analytics, which allows for a more complete and accurate analysis of data than is possible using traditional methods.
What is Business intelligence (BI) reporting?
Business Intelligence (BI) reporting is the process of extracting and transforming business data into useful information. This can be done through the use of BI tools or manual processing. When you are talking about BI reporting, you are talking about the following:
- Extracting data from various sources into a single repository
- Transforming this data to make it useful for decision making
- Presenting this information in a visual format to allow easy interpretation and comparison
The most common types of BI reporting include the following:
- Dashboards
- Scorecards
- Reports
- Charts
- Graphs
- Data visualization
Business intelligence reporting is an important part of any organization. Businesses need to have the right information at the right time to make good decisions. It is not possible to predict what will happen in the future, but you can use data to create a picture of the past. This helps you to determine where you are now, and also where you want to be.
Business Intelligence Reporting Tool
A business intelligence reporting tool is a program that allows users to create reports. Reports can be created using databases or spreadsheets. Users can create reports for internal purposes, such as to track trends in sales. The reports can also be created to help a business analyze data.
The report can include information such as sales by product, location, and other factors. Some examples of these tools include Microsoft Excel, Crystal Reports, Business Objects, and Oracle Business Intelligence. These are just a few of the many reporting tools available.
What is BI reporting used for?
A Business Intelligence (BI) reporting tool is a software application used to create and manipulate reports for the business. Business Intelligence Reporting Tool Business intelligence reporting tool is a program that allows users to create reports.
Reports can be created using databases or spreadsheets. Users can create reports for internal purposes, such as to track trends in sales. The reports can also be created to help a business analyze data.
The report can include information such as sales by product, location, and other factors. Some examples of these tools include:
- Microsoft Excel
- Crystal Reports
- Business Objects
- Oracle Business Intelligence
Also Read About: The Wonders of Business Intelligence Reporting For Modern Enterprises
Conclusion
Business Intelligence refers to the collection and analysis of data by an organization to gain knowledge about the business. Businesses that can collect data and then analyze it can make better decisions. Businesses use this information to improve their operations and make more money.
Business Intelligence Tools several tools can be used for business intelligence reporting. With Al Rafay Consulting (ARC) you can use BI reporting to its maximum potential and get great benefits by making different kinds of business reports.
For more on our services with online data solutions, please do not hesitate to contact ARC.
