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4 Key Elements of a Comprehensive BI Solution

4 Key Elements of a Comprehensive BI Solution

Capturing business intelligence (BI) can be overwhelming for businesses that haven’t yet invested in a BI solution. In many companies, it’s difficult to get financial reporting by business unit, product line or department. Data is often stored in legacy systems and disconnected Excel spreadsheets, which are consistently out-of-date and require manual manipulation. Managers may have to wait for accounting or IT to run reports. Business leaders have no ability to analyze their data or easily get real-time information.

BI tools simplify the process of connecting business systems to enable quick, yet thorough, analyses of the data stored within them. Today’s business intelligence dashboard tools eliminate the otherwise monumental tasks of combining disparate data sets, creating useable outputs and effectively communicating the findings with other stakeholders.

Results of an effective BI solution include the production of data visualizations and the publication of reports and dashboards that enable business leaders to delve into the information that holds keys to improving their business. That data leads to better-informed decisions that drive increased profitability. Let’s take a look at the core elements necessary to reap the rewards of a comprehensive BI tool.

Source : https://www.business2community.com/