Some of the vital specifications of modern business intelligence that have made the technology a darling among the business community are the presence of analytic dashboards, data visualization, and seamless integration.
Nowadays, the BI market is witnessing steady growth. Businesses of every size and domain are now paying a lot of attention to the evolving developments. With a massive amount of data generation, quick access to crucial data has become paramount for entrepreneurs. They are increasingly looking for affordable tools powered by BI. Tools that can help them to make informed decisions, increase their productivity, and ensure a better return on investment. While it is true that there is a variety of modern business intelligence tools available in the market, some of the top specifications that they are looking for are as follows:
Analytic Dashboards
Although there exist strategic and operational dashboards, modern business intelligence tools have a distinct feature. Yes, it is an in-built dashboard with components, such as line charts, bar charts, flow maps, donut charts, gauges, etc. With this in-built dashboard, a vast amount of data can be presented and analyzed like never before. These dashboards let the user perform seemingly complex actions such as drilling down data, viewing historical trends, or time comparisons in an effortless manner. In a scenario when every business irrespective of its size wants to harness the power of its data, these analytic dashboards prove to be a boon.
Data Visualization
As it is already known, data visualization means the graphical representation of data, and by using a variety of visual elements, modern business intelligence tools simply excel! Data in such a form quickly grabs the interest and makes it easy to make out the meaning. It prevents the crucial insights from getting lost in a maze of rows and columns of data. Today, many businesses are run by a single individual. So, for them, having a technology that can translate a voluminous amount of data into a visual context means ease in getting rare insights.
Seamless Integration
One of the major specifications that almost every business wants to have in its business intelligence tool is its seamless integration with other third-party software. If this one specification is missing, it will become difficult for entrepreneurs to choose a BI tool. Many even desire a seamless integration of their BI tool with their ERP and CRM so that data fetching becomes a breeze.
Apart from all these, some other key specifications are user-friendliness as even if the BI tool comes with various attractive features, it will be of little use for want of a higher learning curve. Businesses also continuously try to find BI tools that are available for a free trial. This helps them to know clearly whether the technology will prove beneficial for their business or not.
The truth is several businesses are now keen to adopt revolutionary technology. However, because of certain apprehensions like higher costs, longer time in implementation, difficulty in usage, and too many sophisticated features, they are refraining from leveraging the benefits of business intelligence. With technology evolving each day, these key specifications may soon improve and prove to be more beneficial for businesses in the long run.
The Business Intelligence Features That Can Boost Business Performance
Several businesses are now embracing business intelligence tools to boost their performance, but many have no idea about the BI features that have the potential to help them achieve their desired result.
How Business Intelligence Plays as a Secret Weapon to Make Your Business Successful
Business Intelligence plays a secret weapon to make your business successful in multiple ways, such as offering a competitive advantage, identifying current market trends, spotting bottlenecks, facilitating effective marketing, etc.
How Does Business Intelligence Help in Superior Financial Performance
Business intelligence (BI) helps in achieving superior financial performance by offering detailed cash flow insights. Read the article to know the types of cash flow insights that it offers.
