Business Intelligence Tools: Getting to the Basics
Getting to the basics
What are business intelligence tools?
Business intelligence tools are theories,
processes, and methodologies that change
raw data results into useful information for
businesses. Also known as BI tools.
Under the umbrella of business intelligence
sit campaign intelligence, marketing
intelligence, and other more specific types
of research that give insight into the
performance of a business.
Examples of business intelligence
Spreadsheets: available in many forms, which are
all used organize and store important data so that
it can be easily found later.
Data warehousing: a database just for reporting
Local information systems: systems built
particularly for reporting geographical data.
Digital dashboards: a visual representation of a
business’s current statistics.
More specific examples . . .
Microsoft Excel or Google Docs Spreadsheets
Social media reports from sites like HootSuite.com
Open Office Calc
IBM Cognos Series 10
Why do we need them?
Business intelligence tools are beneficial in
making businesses successful and efficient.
Some of their benefits include:
Updates on competitors and trends
Easy analysis of business processes
Key Performance Indicators (KPIs) are easily and
Complicated tracking processes are simplified
Integrated processes and systems are addressed
Value can come in different forms. Different
types of business intelligence will save you
time, effort, worry, or money, so choose the
right tools for your company depending on
what you find most valuable.
Realize that real results will come about
through realistic expectations. Find and track
the factors that really make a difference in your
business, not the ones that look pretty but
don’t mean anything.
Some business intelligence tools will be more
effective depending on your audience.