Business intelligence applications offer complete suite of software tools that can be used to improve the business performance of companies. Business intelligence tools can be used for a variety of business tasks needed to give companies the ability to quickly make decisions critical to the business operations. Tasks that can be generated using business intelligence tools include data gathering and storage, interactive reporting, online analytics, data integration, BI interface with other corporate communication software, and events systematization and management.
BI tools have the ability to store large amount of information in the company database. Archived and current information warehoused on servers can be accessed by the company whenever there s a need for it. It definitely gives companies the needed information which could be vital to its daily or strategic operations.
Information gathered by business intelligence tools can be analyzed and delivered to users in order to understand the reason behind every company initiative. Performance can also be analyzed thoroughly through the analysis generated by the BI tools. Most importantly the analysis that could be provided by the BI tools can serve as a basis for company decisions and plans.
Business intelligence tools can also shorten the time and lessen the efforts devoted to comprehensive corporate planning. Because of readily available data and different analytics derived from those data, business planners and decision makers can easily arrive at conclusions and craft appropriate solutions to issues and concerns facing the company. In this way, executives and managers could devote more time to implementation and monitoring of work to ensure that plans are being carried out to the fullest.