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Is Business Intelligence Still Alive? Check Out

Business Intelligence is a concept which refers to a managerial philosophy and a tool that is used to help organizations to manage & refine information and to make more effective business decisions. It combines technology, processes, and people. But the prime focus of BI in a digital organization are people and decision-making.

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Is Business Intelligence Still Alive? Check Out

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  1. Is Business Intelligence Still Alive? Check Out!

  2. The Shift in BI Perspective Business Intelligence is a concept which refers to a managerial philosophy and a tool that is used to help organizations to manage & refine information and to make more effective business decisions. It combines technology, processes, and people. But the prime focus of BI in a digital organization are people and decision-making. Thus, Business Intelligence is about the business and not technology. BI solutions are used to drive strategy & change, develop new products, improve cost efficiency, analyze customer needs & attain new customers, increase business value & profitability. and more. website: www.evontex.com email: helpdesk@evontex.com

  3. The Evolution of BI Business Intelligence is witnessing a fascinating technological evolution. Modern BI tools such as the artificial intelligence (AI), big data, cloud, machine learning, Internet of Things (IoT) and in-memory computing are changing the way technology is empowering business. The best thing about modern BI is that it unifies, simplifies and amplifies the existing assets of the company. For example, Tableau and Power BI are BI tools that leverage basic tools like Excel and amplifies them. website: www.evontex.com email: helpdesk@evontex.com

  4. The Data Struggle is Real It is a challenge for organizations to gather, manage and gain insights from data. With the rapid pace of change, there is an increased need for real-time data. Modern BI solutions provide real-time data instantaneously. website: www.evontex.com email: helpdesk@evontex.com

  5. Visual Data Insights The highly advanced BI solutions provide instantaneous data insights in easy-to-understand visual formats like gauges and dashboards. Modern BI tools harness the power of human visual perception and empower executives to analyze data in an organic, intuitive manner and free them from all technical jargons and terminology. website: www.evontex.com email: helpdesk@evontex.com

  6. Forecasting Trends Business Intelligence is all about “knowing and understanding your customers” and enabling organizations to make faster and better-informed decision to increase growth & profitability. BI makes a predictive analysis which helps companies become agile market leaders and have a definite competitive edge over the rest in a digital world. website: www.evontex.com email: helpdesk@evontex.com

  7. Risk Management Modern BI solutions help companies identify, study and mitigate all risks associated with their products and services. website: www.evontex.com email: helpdesk@evontex.com

  8. Pricing BI helps companies set the right price after a careful evaluation of the current market prices. It sends timelines on competitors’ pricing, different purchasing demographics, and its real-time updates. website: www.evontex.com email: helpdesk@evontex.com

  9. Sales Performance With BI implementation, organizations can view market sales trends and track their sales tactics in real-time using KPIs. They improve their sales performance via predictive analysis, strategy and sales practices guaranteed to earn profits. website: www.evontex.com email: helpdesk@evontex.com

  10. Revenue Improvement BI tools help companies focus on the end goal which is to increase revenues. They identify poor performance in real-time which allows companies to make the necessary corrections in the strategy and execution stage. website: www.evontex.com email: helpdesk@evontex.com

  11. Legal Compliance & Regulations BI helps companies automate all legal and compliance tasks, and they identify all legal & regulatory obligations required from them. BI enables companies to fulfill their requirements. website: www.evontex.com email: helpdesk@evontex.com

  12. Conclusion The above points are just the tip of the iceberg as far as BI application goes. One thing is clear that in today’s data-driven smart economy, Business Intelligence is here to stay as they are evolving into more intelligent versions. When done right, Business Intelligence is very effective. A good Business Intelligence strategy is agile, adaptive and affordable. We take an incisive look at how Business Intelligence can be effectively used to enable and grow your business. website: www.evontex.com email: helpdesk@evontex.com

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