The potential benefits of business intelligence tools include accelerating and improving decision-making, optimizing internal business processes, increasing operational efficiency, driving new revenues and gaining competitive advantage in the market. BI systems can also help companies identify market trends and business challenges that will enable entry into new market segments that have great potential.
BI data can include historical information stored in a data warehouse, as well as new data gathered from source systems as it is generated. So BI tools support both strategic and tactical decision-making processes.
BI can present business relevant data like customer preferences, behavior, purchasing power, purchasing frequency, feedback analysis etc., in user friendly dashboards.
Using BI data the business's Key Performance Indicators can be populated and presented in the form of charts and infographics that are easy to comprehend and will become ready reckoners for decision making and strategic meetings.
BI data can be extrapolated and tweaked to view outcomes of various business activities, business processes and functions that are interfacing with B2B or B2C Applications.