Work smarter, not harder! This is the motto of most entrepreneurs in the business world and has been a big contributor to their success.
Small startups and renowned companies have their differences in their processes, but they all share one common thing: the requirement of actionable insights to succeed in doing business.
Everything in the world of business is changing and becoming more competitive. One thing that has led brands to break into competitive markets is the proper use of data analytics and business intelligence.
What is business intelligence?
Business intelligence refers to the computer software, tools, and practices that collect, integrate, analyze and present raw data of an organization to create informative and actionable business information.
Business intelligence tools include data visualization, data warehousing, dashboards, and reporting. These tools are useful in providing insights leading to business growth. Besides that, they can resolve issues that are urgent, collect all the data in one place and forecast future outcomes for a business.
As more businesses are turning to business intelligence (BI) tools, the market of BI tools is continually expanding and has been expected to grow at 7.1% through to the year 2025. These market expansions are expected with technological strides, which is helping businesses to grow.
However, with the plethora of business intelligence tools on the market, choosing the most effective one for you can be overwhelming. In this…