Business Intelligence applications present analysis to business executives in a friendly, readable way.
In today's market, businesses need up-to-date information about their industry, their competitors, innovations, and challenges. Businesses that have set up advanced systems can fail if they neglect to keep up with changes in their industry. The analyses that enterprises need to stay on top of their industries can consume much time. However, there is a more efficient solution. Business Intelligence applications are conceived to do the analysis you need and deliver to you the information you need, when you need it.
What is a BI application?
A BI application is designed to retrieve data that is stored in a data warehouse. Data warehousing is a way of storing data that has been prepared so that it can be accessed by an application, consolidated, and presented in the form of a report. It can show you the trends you look into. Just as importantly, it can tell you when certain trends are not applicable – when things have changed in the context of a dynamic world.
BI applications load the data from one or more data warehouses into a data model that has been programmed to produce specific reports. A good boss will know what reports he or she needs to look at when the unforeseen happens. Good Business Intelligence applications present that analysis to business executives in a friendly, readable way. Visuals are important and can quickly communicate what executives need to know. BI applications are designed with the needs of modern business leaders in mind. They don't waste your time. Increasingly, BI apps can be accessed on the phones and iPads of users.
The Value of Apps to Business Intelligence
Imagine a company that is confronted with price hikes from a number of suppliers at the same time. A Business Intelligence application could quickly discover what accounts for the rise in prices and thereby allow the company to make the most informed decision about how to respond.
A BI application could identify other issues related to the increase in prices, allowing the manager to choose the best and least expensive supplier in changing circumstances.
How BI Apps Could Help You?
A BI application can mine your data warehouse to discover which products are the best sellers, the most profitable, or the least in demand. It could tell you what items sell at what time of the day, the week, the year. You could adjust your orders in response. It could tell you who your best customers are and how they keep up-to-date about your business. By letting a BI app analyze the data, you can streamline your business with a view to maximizing profits.
If you have a large amount of information to manage and analyze, a BI application could be invaluable. By analyzing data that has been centralized in a data warehouse, Business Intelligence applications create precisely the reports that you need to manage your business with a view to maximizing profits and minimizing waste.
The cost of a BI application may vary greatly. Thoransoft can determine whether it would be a profitable investment for you, contact us now. We are happy to share our expertise with you.