What are clients looking for in business intelligence software? Overall, the most useful tools need to gather data and allow clients to organize it and create meaningful visuals. Most businesses today prefer cloud-based services as opposed to storing data on their own servers.
Dashboards
Dashboards convert data into graphic displays such as pie or bar charts, graphs, maps and other types of visuals. Dashboards let businesses see what the data are saying. Collection methods have become more efficient in recent years, but without some way to interpret them, the information is useless. Dashboards fit this bill, making data usefull to businesses at all levels.
Visualizations
Our brains process visualizations much more quickly and easily than simply hearing or reading information. Videos, interactive graphics, and virtual reality draw the viewer in and involve them in the information exchange. This is the key in business intelligence software that can create visualizations. The easier the data are to understand, the more efficiently a business will run.
Reports
Although visuals are a big plus, reports are still an important part of doing business. The ability to receive data and generate reports tailored to a particular business function is a big plus. Clients want to be able to create internal, external and personal reports easily and efficiently.
Analytics
Data analytics is one of the stars of business intelligence software. A good system analyzes raw data and draws conclusions from it to allow businesses to make the best decisions possible. This has been a cornerstone of business for a long time, but with current software, these processes have become automated. The programs make finding trends and optimizing information much easier.
Data Mining
Because of its powerful abilities, today’s business intelligence software can easily perform important functions such as data mining. As its name implies, data mining means that the software searches for patterns in very large collections of data that would be hidden from the human eye. These patterns are only discernable by computers. Data mining is possible through the interaction and development of artificial intelligence, complex programming techniques and statistical analysis. This is especially useful for companies involved in marketing, banking, law enforcement consulting and scientific research.
Cloud-Based
Gone are the days of rooms full of computer components at each business. Companies today have access to powerful data collection and analysis in the cloud, where data is stored securely off-site and available for access when needed.
Developments in business intelligence software have made huge strides in data collection and analysis possible.