The usefulness of a business intelligence application lies in its ability to deliver accurate reports based on concrete statistical and objective analysis. Business intelligence reports serve as the final output of a data query and can be the basis of the company s business plan or strategy. Business intelligence reports however should be used carefully. There is always a risk in misunderstanding the reports and its projected impact on the company. If this misreading happens, wrong and totally inappropriate business decisions could be made. This then could result to immeasurable adverse consequences for the company s business operations.
Business intelligence reports should always be taken in context. The environment and situations surrounding the report should be carefully considered in order to avoid misreading. Economic intelligence reports always have political basis as well as cultural underpinnings. A business situation should be read with these factors in mind. In doing this, companies can make excellent decisions that are both insightful and strategically sound.
Business intelligence reports should always be bolstered by concrete data. A report devoid of concrete data could not be a source of concrete analysis. Business intelligence reports like these are purely speculative and should not be made as a basis for making corporate decisions. In order for an intelligence report to be useful, it should always be supported by data that are in-depth and precise.
Any business intelligence software or application should always have the capability to generate intelligence reports that are founded on concrete data analysis. An application having those features can certainly be beneficial to the entire organization.