Four Business Intelligence Capabilities of Modern BI Platforms
Today’s business intelligence (BI) offers a plethora of new capabilities that cater to the ever-growing requirements of CFOs and businesses. They provide fresh ways in engaging with data through upgraded features being developed to supplement the existing BI tools.
To help the process of narrowing down your choices, here is a rundown of the business intelligence key features you can look out for in a BI platform:
Functioning as an interactive control center of the BI software, your dashboard should reflect your data in real-time through various forms. It allows you to keep tabs on your KPIs at a glance, alongside viewing of generated results in a digestible format.
2. Self-service BI
Developers have transformed BI tools to be more user-friendly so any member of the team can use them regardless of their skills or expertise. This makes it easier to analyze the data and reports, which are in a more understandable context.
3. Data discovery
Just like the name infers, data discovery focuses on the collection, preparation, analysis and sharing of data to make way for a comprehensive assessment of patterns, trends, weak spots and irregularities within the provided pool of information.
4. Advanced analytics
This function draws a sophisticated method for extracting analytics and developing predictive solutions that are proven beneficial for your strategic planning. Among the BI platform features, advanced analytics is expected to be a thriving area of the business analytics arena in the coming years.
Nowadays, it’s becoming an imperative to seize the benefits of BI, but to do so, you must first know what software will best serve your needs. Adopting a BI platform with promising business intelligence capabilities means taking your existing process into an elevated level to meet business goals and at the same time, amassing a great deal of opportunities for the enterprise.
D&V Philippines houses experts in business analysis and reporting to help provide full-scale support for CFOs. You can download our guide The Role of Business Analytics for Better Business Outcomes to know about the power of BI in business, or you can schedule a free consultation with us. We’ll be happy to discuss how we can be of better help to you and your business.