What is BI Reporting and how it help businesses?
Business intelligence Reporting (BI Reporting) is a technology-driven process for analyzing data and presenting actionable information to help, Leadership Team, Top Management team, Senior Executives, Top Managers, and other Corporate users make well-informed business decisions based on solid data and visible patterns. It is used to identify, discover and analyze your data get information related to your business like sales, revenue, costs, expenditure.
The first step in Business Intelligence Reporting is the extraction of raw data from the corporate database. The data source varies from single to multiple heterogeneous systems. The second step is to clean the raw data and transform it into a data warehouse. The third step is to create visuals/ charts for analyzing the cleaned and transformed data
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Some of the advantages of using BI Reporting System are as follows:
1. BI helps to boost a company’s productivity.
BI helps to improve the visibility of the company’s processes and other processes. This helps to easily identify any areas which need attention in the company.
2. BI improves visibility.
BI helps to improve the visibility of the company’s processes and other processes. This helps to easily identify any areas which need attention in the company.
3. BI fixes accountability.
BI system assigns accountability to some/ all employees in the organization as there must be some person who should be accountable to a person with a higher rank. Thus, BI helps to improve a company’s performance against set goals.
4. BI gives a bird's eye view.
BI system also helps the company’s top management team, CEOs, executives to make more informed decisions with typical BI features like dashboards and scorecards.
5. Cost of implementing BI.
BI may be not be hugely expensive though due care needs to be taken for small and medium-sized enterprises before implementing BI as BI tools are not free.
6. Complexity in BI implementation.
The implementation of a data warehouse in BI sometimes can be a complex task. This can make business techniques rigid to deal with. Business intelligence (BI Reporting) tools are a type of application software that is designed to collect and process large amounts of structured and unstructured data from various data sources, including Databases, Cloud Hosted Services like CRM, Social Media, Excel files, documents, images, emails, videos, and many other sources.
Business Intelligence (BI) tools help in preparing data for analysis through reports, dashboards and data visualizations. Some of the most popular BI tools are Tableau, Microsoft Power BI, Domo, Looker, SSRS /SSIS/ SSAS.
