What is BI and how does it help organizations?

According to Gartner, Business Intelligence (BI) “is an umbrella term that includes the applications, infrastructure and tools, and best practices that enable access to and analysis of information to improve and optimize decisions and performance.”

A businessman holding a tablet pc computer with the projection screen of a graphs and diagrams. Business concept.

 

BI helps organizations improve decision making by tracking, processing, storing and analyzing data and transforming it into insights. Business users can use these insights to make the right decisions in the right time, cutting costs, identifying new business opportunities and improving their organization’s performance.

Why should someone choose BI? Because today we live in a world where organizations collect and store huge amounts of data. If that data is not turned into actionable insights that serve the company for a specific purpose, it becomes a heavy and expensive burden for the organization. It is very easy to get lost in all the data and the analysis process can be long and tedious; but with BI, the process becomes optimized and now, with solutions like Panorama Necto 16, almost automatic. Users can gain insights that will improve their decision making in just two clicks! BI has made life easier for analysts and business users alike by providing accessible, user friendly solutions.

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