#NEW BUSINESS INTELLIGENCE APPLICATIONS SOFTWARE#

This data, presented in the form of visualizations, allows the organization to monitor logistics, sales, productivity and much more.

#NEW BUSINESS INTELLIGENCE APPLICATIONS SOFTWARE#

Visualizationīusiness intelligence software utilizes a range of data analytic tools that are designed to analyze and manage data related to your business operations. This helps them focus on targeting highly-qualified leads and improves everything from conversion rates to overall profit margins.Īpplied in conjunction with customer relationship management (CRM) software, BI offers businesses a sophisticated method for getting up close and personal with their customers and making informed sales decisions.Ĭompare BI Software Leaders 2. Sales and marketing teams can apply BI to discover trends in client preferences, letting the organization maximize sales within their ideal client bases. BI applications are a great way to optimize the organization’s sales operations. Given the competitiveness of the modern era, great sales opportunities need to be found and converted as efficiently as possible. This sales overview dashboard from Oracle gives users detailed insight into their sales metrics

Planning is one of the most important steps to stay on top of the market in any industry, and BI makes planning easier than ever before.

The data collected by BI systems helps managers stay informed about where their business is in relation to different KPIs so they’re never caught unaware. There’s another benefit to the application of business intelligence: in business, staying a step ahead of your competitors is vital. Managers can utilize the information gleaned from BI analysis to make data-driven decisions based on hard data and forecasting. The reports and dashboards generated by BI are also very useful for backing up claims with easy-to-interpret data for potential clients. Knowing the customer means you can better serve them! Users can identify trends from this data that provide insights into customer behavior and business operations. Then it organizes this data into structured visualizations like graphs, pie charts and scattergrams. Through the applications of business analytics and intelligence, this process is becoming smoother and more predictable.īusiness intelligence collects data on specific KPIs like customer demographics, conversion rates, sales metrics, etc. Sometimes it can be hard to move leads along the pipeline and convince potential clients to buy your product or service. Customer negotiation is a crucial skill that every organization’s sales department should foster. Sales IntelligenceĪ key application of BI focuses on where your business meets the customer. Here are four key business intelligence applications that can help improve your organization’s operations: Applications 1. With the latest technology and innovations, there are countless BI applications available for varied types of data analysis.Īny forward-thinking organization should identify what tools market leaders are offering and how these tools can positively affect their own organization. With the insights and trends these visualizations make evident, organizations can come up with up-to-date and well-informed strategies. Next, it presents those patterns in visualizations, allowing even users unfamiliar with any kind of statistical analysis to understand the information being presented.Īn example of data visualization from IBM Cognos BI Then it organizes that data according to any patterns or trends it finds. Of course, we’ll be operating from a more modern understanding of the term: BI, as we use it today, refers to technologies, practices and applications that collect, integrate, analyze and present business data with the intention of making data-driven business decisions.īI software solutions analyze data that users input and/or are fed from data sources. In fact, the phrase business intelligence goes back to the 1800s when the term was first used in a book to describe the way a financier had been outsmarted by competitors who used knowledge of the market to play it. The applications of business intelligence tools to enhance your business operations is not a new concept. Have you ever wished you could get a glimpse into the inner workings of your organization to understand more about how and why things happen? Well, I’ve got great news for you - you can! Business intelligence tools give you just this opportunity, but they can do much more! For those who’ve wondered what BI is good for, this article highlights the four main business intelligence applications and what it can do for your business. Transportation Management Software (TMS).

New business intelligence applications