BIS which is called 'Business Intelligence Software' might be a scary term for beginners, it can even lead to it being dismissed, without any consideration. Our aim is to break the term down into its simplest form, to help you understand how it can guide you and your business.
What is Business Intelligence Software?
Business intelligence software wraps the tools and techniques used to gather useful information to help with the processing and planning of the business. This software used to gather, organize and present data/information.
We all are familiar with the data presented in spreadsheets; this is the only tip of the iceberg in business intelligence software. As more and more business is conducted online, the world of data analysis for a business is entering a brave new territory.
From reporting to analytics to data mining – the way in which we can collect data is becoming advanced. Remaining on the cusp of this industry can give you the real edge in a competitive business.
BIS is applicable to everybody. Every business's survival is dependent on their knowledge of their market so they can adapt, evolve and expand as it changes.
In the modern business world, knowledge is power. Using the most advanced software possible to gather data makes it easier to identify your strengths and suss out your weaknesses. In turn, this gives you the authority to act on the data you are presented with.
Business intelligence software is popular because it makes it easy to measure performance and identify trends.
This software include:
- Monitoring employee performance
- Pinpointing the marketing efforts
- Streamlining administration processes
Once you understand the fundamentals of what BIS is, you can look into exploiting its application to further your business.