Enterprise intelligence (BI) leverages software and providers to transform knowledge into actionable intelligence that informs a company’s strategic and tactical business decisions. In keeping with its World Enterprise Intelligence Market 2016-2020 report, printed in January 2016, international know-how research and advisory company Technavio forecast the global BI market to submit a compound annual progress fee (CAGR) of greater than 10 p.c by 2020.
In accordance with the list of greatest enterprise intelligence tools prepared by specialists from FinancesOnline the main options in this class comprise of systems designed to capture, categorize, and analyze company knowledge and extract greatest practices for improved resolution making.
What BI tools you need depends upon how your knowledge is at the moment managed and how you would like to analyze it. For instance, whether it is at present scattered across disparate transactional databases, you may need to build an information warehouse to centralize it and invest in information management instruments that provide Extract, Remodel and Load (ETL) performance to move and re-construction it.
The potential benefits of business intelligence tools embrace accelerating and enhancing choice-making, optimizing inside enterprise processes, increasing operational effectivity, driving new revenues and gaining competitive advantage over business rivals.
Transferring forward, Howson says Gartner sees a third wave of disruption on the horizon, something the analysis agency calls augmented analytics,” where machine learning is baked into the software and can guide users on their queries into the info.