Business intelligence solutions offer great benefits for businesses of all sizes and in nearly every industry. They help in boosting workflow efficiency, understanding customer behaviors to satisfy them. Thus, making better decisions and more.
If you have already decided about getting a business intelligence software solution. But don’t know what specific features to consider. Then, here’s what we think matters most.
Decision simulation
Did you ever think that you could really simulate decisions and what comes after before making them? This is a possibility with your business intelligence software solution.
Using the existing data, an algorithm could try to simulate potential risks from financial and other sides for each decision. In addition, without having to input anything and just by choosing what you would change.
This can be a life-changing tool that saves much time and money on trial. Also, you need to expect that error strategies can sometimes do bigger harm.
Executive dashboards
One of the greatest features you can have in business intelligence software is an integrated executive dashboard. This dashboard, which can be customizable, can help business executives manage various aspects in one place.
The focus of the executive dashboard is to enhance decision-making. In addition, ease communications and approvals from executives. The executives also get access to KPIs and advanced reports from every department. All with no extra or repetitive work for anyone. Also, with full automation and real-time updates.
Demographic intelligence
Having data gathered automatically in one place is very beneficial. You will be able to filter it through advanced tools and make it more usable and advantageous.
With a business intelligence software solution, you can easily visualize day sets based on specific demographics like locations and ages. It gives you a better understanding of your sales and enhances your decision-making hugely.
Interactive reports
Decades back available data was very little as compared to now. Data could be shared through a single spreadsheet or a couple of papers. Now, with huge amounts of data and KPIs gathered and available digitally to benefit from. Then, you need to consider interactive reports.
Like the ones offered by platforms like Google Analytics, interactive reports let you take action to dive deeper into a single piece of information or chart. You can zoom, apply a specific analysis or drill down a subsidiary report. That can all be very helpful in daily usage.
