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How does Business Intelligence (BI) help companies determine their roadmap? Provide a specific example.

How does Business Intelligence (BI) help companies determine their roadmap? Provide a specific example.

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Business Intelligence (BI) refers to the tools, technologies, applications, and practices used to gather, integrate, analyze, and present an business raw data in order to create insightful and actionable business information. Business intelligence as a discipline and as a technology-driven process is made up of several related activities, including Data mining ,Online analytical processing, Querying, Reporting.

How it helps to determine company's roadmap:

  1. It accelerates and improves decision making
  2. It Identifies market trends
  3. It spots business problems that need to be addressed
  4. It increases operational efficiency
  5. It optimizes internal business processes
  6. It gains competitive advantages over business rivals.
  7. It driving new revenues

Example of Business interlligence software:

Tableau:

Tableau is a desktop Business Intelligence software intended to help us visualize and understand our company data. Instead of a chart builder, we can get live visual analytics toos for easy exploration. With its interactive dashboards we can identify visual patterns faster and find the insights quickly and it will improve decision making and company performance. With software we are able to connect to multiple data sources – spreadsheet, SQL database, cloud apps like Salesforce, on-premise reports – regardless of data size.We can display and publish the results with dashboards and share them with anyone. Thats why BI softwares are very helpful.

Hope you understand, Thank You!

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