What are Business Intelligence tools?

BI or Business Intelligence tools are tools that use a set of technologies and methodologies to present, prepare and assist analyze data. With the help of this procedure, information is transformed into actionable business data that assist end-users and decision-makers to make real-time data-driven resolutions.

The group of technologies and methodologies utilized by BI is widely diverse and depends upon the perseverance of the solution. Certain tools concentrate on the data training part of things and include things such as extract, transform and load level to better utilize and organize information. Some tools concentrate on wider enterprise utilization and concentrate on information mash up to assist businesses to make structural decisions based on data from various departmental systems.

Certain tools concentrate on end-user experience and self-service capabilities. Some tools concentrate on enabling analytics of other applications and such tools are referred to as embedded analytics or embedded BI. It consists of a wide range of additional features that make it simpler to incorporate into existing systems.

Business Intelligence Tools and Challenges Faced by Every Organization!

In the present technology scenario, the information generated on an everyday basis is enormous. The data contain valuable information and can assist executives to make important decisions. Several organizations are using BI for this purpose, however proper usage of Business Intelligence tools assist organizations to increase revenues and improve productivity.

  • Lack of Business Intelligence strategy:

Organizations should determine the issue they are trying to resolve. In this way, they will be able to determine the right business intelligence tool that caters to their needs. Once the BI system is implemented, the executives would get an idea about the system’s positives and drawbacks and find out how the system can add value to their business. Planning a strategy before implementing the system is important since confusion has chances to result in a disaster of adoption.

Attempting Business Intelligence without the required precautions for success has chances to be painful, frustrating, expensive and chances of failure.  One of the recommended methods is going for assessment and evaluating the current business procedures. It helps in gathering important requirements required for setting an appropriate roadmap and devise overall Data Management and Business Intelligence strategy. It should be charted by a PoC or Proof of Concept to develop a business case and validate the solution.

  • Lack of execution and training:

Several times, companies may have well-planned needs, a good BI tool solution and a sound BI strategy. However, they lack technical skills such as maintaining, building, designing and supporting Business Intelligence applications. Due to this, BI applications run slowly, break constantly, offer uncertain results, and resulting in increased cost. Organizations should concentrate on determining why BI solution is required and the perks of BI solution. They should spend wisely by offering continuous training, thus the users can learn how to utilize the system.

  • BI with unstructured data:

Most times, data remains unstructured for business intelligence to analyze. It results in an issue where users have to do simple BI processes.  Though businesses spend on big data analytics, they would not accomplish activities in time.

A BI solution that is loaded with instinctive ETL abilities to process information sets has to be restructured as a solution for this issue. It will help the users develop a single source and front end with information visualization capabilities.

Know about the Zed Axis Business Intelligence Tools:

Zed Analytics by Zed Axis is the latest Business Intelligence tool that supports the entire business in making informed decisions quickly by altering information into actionable results. It helps you in eliminating hazards and growth operative competences throughout entire areas of the business. With the Zed Axis Business Intelligence tool, you can determine a clear analytical phase for each deal and emerge confident that result in a wider brand presence, higher productivity and greater yield.

 Features of Business Intelligence Tools:

  1. High-level features: Some of the high-level features or broad holistic features present in the Business Intelligence tool are as follows:
  • Operational reporting capabilities: This feature supports the regular or day to day functions of the business. BI software offers a range of innovative reporting choices (like dashboards, mobile, ad-hoc, what-if, operational, etc.) from a single code base that offers managers a clear business structure.
  • Mobile support: Fast-paced and dynamic transformations in the technological setting mean BI tools can be accessed through several devices and platforms. They have to adapt to laptops, personal computers, tablets and smartphones for ease of usage.
  • Application reporting: Top BI tools help you easily import embedded charts and data and analytical tools from other systems. The capacity to import necessary information aids in improving elasticity and is a better time saver.
  • Real-time data: BI tools deliver timely and quick real-time information, making sure the decision-maker possess the most current information. Possessing complete knowledge of accurate information makes sure the best conclusion can be finalized for business interest.
  • Comprehensive database support: Latest BI tools support various database platforms and obtain information from several sources. As many database options pop out at a large rate, wide-ranging backing ensures you are not limited because of non-adaptability.
  1. Advanced features: Some of the advanced, breakthrough features that aids in transforming business landscapes are as follows:
  • White labelling: At present, managers are searching for re-branded, readymade Business Intelligence solutions to supplement their existing service or product. White labelling involves customization of Business Intelligence application to make the structure equal to the latest or existing business software. It helps in providing domain-specific insights, reliability and promoting user adoption and recall.
  • Intelligent alerts: It is the latest technology that permits the BI application to automatically send an instant message or email alerts to the user when the information reaches the predefined threshold point. An alert would be sent whenever the stock reaches a specific point or a sales number accomplishes a specific figure.
  • Built-in ETL: ETL or Extract, Transform and Freight or Load tools assist to pull information out of several systems, change into a distinct format and set up into an information warehouse. This feature assists in blending information from several resources into a single report, enhancing the content quality.
  1. Must-have applications: Some of the important must-have features BI tools have to incorporate are as follows:
  • OLAP or Pivot Table: It is a great tool since they abstract significance from a vast, detailed set. It aids in critical processing through organizing information, summarizing and forecasting trends and making comparisons. Flexible, simple to use and interactive- pivot table is an important tool in BI software.
  • Executive dashboards: It displays the KPI or key performance indicators which are required to effectively function in an enterprise. They offer a customized, real-time view of major data through tables, charts and graphs. It aids in organizational effectiveness and improves good decision making.
  • Ranking report: It is a specialized report option that aids in creating variable ranking across several business dimensions and mention several selection principles at run time. It is a wonderful tool that assists managers to obtain a clear view of the worst and best features of their business.
  • Ad-hoc report: It helps business developers distribute and create detailed reports from any location or at any time. The users can select and distribute significant data elements in a format of their choice. Also, the report can be shared by mail to other users, thus it increases convenience and saves time.
  1. Security features: These tools monitor your control through user and data- access, thus improving safety.
  • Application activity auditing: It is an excellent BI solution that helps operators to record end-user activity at the end of each session. This tool ensures the IT department can evaluate, when the users sign in, the time of a session, and which applications they are accessing.
  • Single sign-on: Single time authentication procedure is user-friendly and simple. It makes sure that the user enters the name and password in a single place, eliminating the requirement for repeat password attempts while switching apps in one session. It greatly reduces forgotten or wrong password support requests and enhances efficiency.
  • Multi-tenant or row-level security: It permits to control and monitor data access in an exclusive application. This way, several users get different levels of admittance to information and view several data associated with their job.
  • Application-level security: This feature helps to control Business Intelligence application access according to the per user basis or per user role basis.
  • Multiple authentication sources: Latest BI software permits stretchy authentication options.

Why Choose Zed Axis Business Intelligence Tools?

Zed Axis- Zed Power BI analytics aids and supports in collaborating dashboards and formulating persuasive reports that share twisted information in a secured atmosphere. The data visualization feature assists you in gaining real-time information and thus, you can take a further step in your deals. If you require unique, crafty and informative dashboards, the Zed Axis BI tool would match your needs. The users can utilize their SFA application and choose field sales management application when required. The tool combines information from several sources and merges it into extraordinary functional reports that showcase your business potentials.

Do you wish to Zed Axis a powerful Business Intelligence tool? Call our team for details.