If you want to decide your target of next financial year, you need the current revenue and sales report and the same reports of previous financial year. If all these information are available on a single click on your desktop then you no need to engage human resource for this and you can quickly make the decision. Business intelligence (BI) solutions are used to enhance decision making and grabbing business opportunities from the market.
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Business intelligence solutions are used to remain updated from every news of the industry you are engaged in. For the first time the Business Intelligence Solutions were introduced in 1996 but at that time they were too expensive so only big organizations were able to buy it. But now BI solutions are available in affordable cost thus even a small and mid size enterprise can buy it.
Business Intelligence Solutions are developed by the person having detailed knowledge, expertise and years of experience in business management and data analysis. BI is actually a resource management system which is used to handle all relevant data within and outside organization. BI also serves a purpose as a human resource management system and monitor employee performance. BI solution function as data mining, reporting and online analytical processing tool.
In this 21st century, businesses are very keen in establishing intelligent management system. Using such system they track on each process or project running in the organization and work on the processes not delivering desired outputs. BI tools help corporates to take quick decision at various level as each member within organization can access the relevant data from the central database system and see all information on his/her dashboard. This way the tools are providing transparency in business. With the advent of BI tools, businesses can scrutinize their sales record, check customers query and answers delivered, market trend and manage all financial records. BI solutions minimize risk exposure of your organization and give your business an edge over competitors.
