Business Intelligence was a pretty hot topic during 2018, and it looks like this year the trend is not going to subside.

What is Business Intelligence and How It Works

First of all, let’s define what’s business intelligence and how it works in a nutshell. Business intelligence or BI is a software solution that consists of a set of tools intended for extracting the essential information from big data. As an example of BI, you can think of interactive operational reports, dashboards, geo-mapping, data analysis management tools of different kinds. One of the main fields of application of BI technologies is the effective measurement and analysis of KPIs and metrics across all levels of a business organization.

With a BI dashboard designed in accordance with the specifics of your business, you can display multiple charts and reports on a single page. Such software solutions help to review and analyze the most important metrics in-a-click. BI software solutions can provide both summary and in-depth views of performance. Now, let’s take a closer look at how this technology works to make all of this possible.

First of all, business intelligence is about the data. Therefore, the information infrastructure is the first layer of any BI system. Such precious info as orders, sales, client profiles, and performance indicators should be stored somewhere for further analysis. Data warehouses are precisely what’s needed for this purpose. They allow integrating info gathered from different departments that stored in multiple sources and provide access to a centralized repository. You, as a user, don’t have to worry about storage features. Instead, you can use a single query to view the information you need and get a big picture of your organization.

The next question is what’s the better way of representing raw business data. Getting fast access to data is crucial, but you should also think of the mechanisms allowing to extract useful metrics and key figures from this data and make it as quickly as possible. One of the better solutions available today is the use of data visualization services for creating informative BI dashboards.

Conclusions

The implementation of BI solutions in modern business can become helpful companies of any size. The adoption of such systems will help you to make decisions based on the most relevant and accurate data. BI software allows business to:

• define a growth strategy
• increase revenue
• create a more effective business model
• get a consolidated perspective of your clients
• gain a competitive advantage

At XB Software, we offer different types of personalized Business Intelligence systems such as:

• custom-made full-featured BI solutions. Our broad expertise in building high-end BI systems allows creating multi-featured tools according to the individual needs of our customers
• embedded BI modules. We can build and integrate different types of BI modules to extend your analytical capabilities. These BI modules will enable you to review enterprise-wide data without switching between different systems
• updating third-party software systems with BI modules. XB Software development team can develop and integrate BI modules into your applications developed by third-party companies