Business intelligence tools have grown rapidly in popularity and functionality over the past years. If you have not yet considered implementing BI for your business management systems, now it’s the right time to do it and leverage the many benefits BI has to offer.
Structure and Analyse All Your Data
An IBM study estimates that as much as 80% global data residing today online in digital documents, websites, blogs, apps, photos, videos, and social media feeds is unstructured.
For businesses, it means that this data is difficult to access, leverage and analyse to derive valuable insights from it. For example, accessing social media conversations happening around your brand helps to understand your market and improve customer service.
Business intelligence tools can structure and collate data from various sources that may influence business decisions. Data can be easily turned into valuable insights to create actionable reports. As a result, management can finally make sense of the relevant data to make more informed decisions.
Predict Market Trends and Behaviours
Business intelligence tools are increasingly becoming more capable of prescriptive analysis with the use of AI and machine learning technologies to identify data patterns and common behaviours.
Predicting market trends, anticipating industry demands, and foretelling buyers’ reactions give businesses the opportunity to be better prepared for change and create more engaging user experiences.
As technology evolves, business intelligence tools will be capable of leveraging important insights from multiple and various sources, including non-text sources like videos and images, and alert businesses on potential risks, threats and opportunities.
If you are looking to invest in a BI tool, consider foremost the ease of use, functionality and affordability that can provide real value to your business.
Microsoft Power BI is an affordable data analytics and reporting tool with cloud and visualisation capabilities and real-time trend analysis. It offers seamless integration with the familiar Office productivity and collaborative tools.
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Power BI a business intelligence tool that brings all your business-critical data in one central system for quick organising, analysing and reporting. Experience any data, in any way you want, anywhere. And all in one view.
