Business intelligence has become a major point of interest among businesses as it allows them to leverage software and IT services to acquire actionable insights from data to inform organizations with strategic and tactical decisions.
- The Worldwide BI market is envisioned to surpass $33.3 billion by 2025 (growing at 7.6% CAGR).
- Per Grand View Research 2019, 46% of small businesses are engaged in leveraging business intelligence tools in their core processes.
- The global business intelligence software market and analytics tools altogether are predicted to reach $17.6 billion by 2024.
In short, BI is expanding its reach all across the world and deepening its roots in the global marketplace in conjunction with BI tools. Business analytics and intelligence tools enable enterprises to analyze huge data sets and provide reports, summaries, graphs, charts, dashboards innate with major insights that represent the state of business.
BI is a term that also indicates a wide range of analytics tools to enable quick, easy-to-digest access insights about organizations’ current state and forecasting. Moreover, the services of Business intelligence consultants are also increasing in popularity. Surely, you would be having several questions regarding business intelligence. In this article, I will be answering the most common queries related to BI trends. So, gain BI insights and how it turns data into a valuable piece of information.
What Is Business Intelligence?
BI is all about the technologies, software applications, and practices for collecting, analyzing, integrating, and presenting business information. The major purpose of business intelligence is to enable businesses/enterprises to make better decisions.
Business Intelligence systems are data-driven decision support systems that sometimes use the software to generate reports, query tools, and executive information systems. Major BI tools are:
ReadMore:https://www.trickyenough.com/a-comprehensive-look-into-practice-of-turning-data-into-insight-using-business-intelligence/
