Business intelligence software and tools
Reporting, analysing and presenting data in a highly legible manner are the cornerstones of business intelligence (BI) software and the tools that can be used range from the accessible to highly complex applications that are best suited for system developers. A selection of BI tools and software is listed below:
Local information systems
This set of tools are primarily used in Europe, and chiefly for geographic reporting, with the primary function being the reporting of statistical data with support for storage functionality and the recovery of uncategorised data. Statistical data can loaded, analysed and referenced according to key geographical regions. This helps to target a wide range of groups in the shortest possible time.
Data Mining
Data mining is considered to be one of the most advanced forms of BI, and incorporates artificial intelligence into its design in order to extract numerous data patterns. Customer profiling, fraud detection and company-wide surveillance are all part of the features that data mining can offer.
OLAP
Online analytical processing is the best approach a business can take if it needs to address multi-dimensional analytical queries. Complex data models and on-the-fly queries can be performed in rapid succession of each other. OLAP queries are displayed in intricate matrices, millions of rows and columns that constantly measure the data of the current project.
Spreadsheets
Excel, Calc and other spreadsheet applications are typically used in order to record date from the BI systems into a unified order. Once the data is inputted into the spreadsheets, it can then be exported into the OLAP for further data dissemination.
Digital Dashboards
A digital dashboard is an executive information system and forms the user interface which is easy to understand and modify as per the needs of the BI model. Dashboards are laid out in such a manner that the flow of information is constantly tracked to monitor all business processes. The digital dashboard can be graphically customised in any way that the design team sees fit.
Business performance management
Achieving a small sub-set of goals is the key component for correctly running a BI campaign. With business performance management, it becomes possible to track all goals within the core BI group and further analyse each sections success and failures, building a predictive model for all current and future projects.
A large percentage of these BI tools are standalone packages and with the exception of the spreadsheets, are all targeted to highly specific users within the industry.
