The main applications of Business Intelligence

Business intelligence (BI) applications enable CIOs, digital transformation managers, business and operations managers, and sustainability professionals to access, analyze, and visualize data to gain valuable insights.

Discover the best business intelligence applications that will transform the way your company leverages data to make decisions.

In this content we explore the best business intelligence applications available in the market, from data analysis tools to visualization and reporting solutions. The great advantage is that these types of applications can drive growth, optimize decision making and improve operational efficiency in your company.

Data is one of the pillars on which the strategies of organizations are based and therefore it is essential to make the most of the benefits of data analysis toolswhich allow, among other things, the report generation or the realization of predictive analytics with a single capital such as the improved decision making.

The truth is that BI solutions have been on the market for a long time and since their inception have allowed companies to rely on data to make decisions that improve the business. But it is in recent times when, with the boost of technologies such as artificial intelligence, cloud and big data analytics have the capacity to transform data into valuable information. These are some of the main applications of Business Intelligence in companies:

Data analysis tools

This is the main functionality offered by BI solutions. The objective of this type of solution is as simple as enabling companies to make strategic decisions based on data.

With business intelligence solutions, organizations can detect emerging trends, patterns and opportunities through the analysis of large data sets. In this way, companies can make informed decisions that enable the organization to improve its market position and gain a competitive advantage.

Data visualization systems

Data visualization solutions are becoming more and more widespread, being used in a wide variety of industries. Its main feature is that it converts complex information into easy-to-understand interactive graphs and reports, allowing organizations to intuitively analyze large amounts of data, identify patterns, analyze trends and streamline decision making. Companies also use this type of tools because they favor collaboration between different departments of the organization.

Executive reporting and dashboards

An essential element of Business Intelligence applications is the generation of reports and executive dashboards. The reports provide the organization’s managers with an instant view of business performance, show key metrics, real-time data analysis and KPIs that allow them to assess the evolution of the organization.

In addition, dashboards offer users access to real-time data analysis and the ability to monitor through control panels how the business is evolving and whether objectives are being met.

Predictive analytics

One of the areas that has evolved the most in recent years is analytics. Incorporating AI and Machine Learning algorithms for business into our platforms arms companies with the ability to predict what will happen in the future.

In this way, companies can make informed decisions and take informed actions in all types of activity sectors (retail, manufacturing, services, banking and insurance, etc.) and in any area within these, from marketing and customer relationshipfinance, production o HR and talent management.

The great advantage provided by this type of solutions is that, by analyzing large data sets, business analytics applied to proactive and strategic decision making is improved, patterns and trends in the market are identified and it is possible to perform a advanced performance management of the organization.