Does Your Company Need Business Intelligence Software?

A very common use of business intelligence software is found in the form of executive scorecards and dashboards which are an easy way for management to look at key performance indicators and vital measurements in a fraction of the time that it would take were traditional reports to be drawn up each time that an executive wanted an assessment of performance of growth or another key measurable. With scorecards and dashboards management can simply take one look and understand what the situation is at a given point in time. A second way in which business intelligence software is fairly widely used is in the area of online analytical processing (OLAP) capabilities which allows users of the software to manipulate date in an infinite number of ways and with immediate effect. This is a critical strategic tool as it enables management and executives to view data from numerous different perspectives at the same time and down to the smallest detail. Data mining is another extremely useful capacity of business intelligence software in today's globalised world where companies have to deal with massive and growing volumes of data on a daily basis. Working through this data to find exactly what you need can be an almost impossible task, even if you really know what you are doing. The data mining features of business intelligence software packages, however, make it possible to locate and extract only the most important and relevant information from enormous data sets, saving vast amounts of time and money, while ensuring that the information itself is used appropriately.
Whatever your business intelligence software needs you can be sure that you will find a multitude of tools that will make a variety of strategic planning processes much easier and more efficient than ever before.

Article Source: http://EzineArticles.com/?expert=Greg_Mingea 

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