Business Intelligence: Where has it come from and where it is going?

By ridhigrg |Email | Dec 10, 2018 | 3465 Views

The society is continuously evolving and there are many enhanced information technologies which will lead to transformation having advanced tools for decision making. For companies, business intelligence system plays an integral part. It helped to resolve all the obstacles such as financial and economic crises and have many complexities which improve the process of decision making through this system. The modern techniques provided by IT companies enhance the power of decision making of all the managerial teams.

 Earlier, people wanted to know about how they are performing their task, be it sales or anything else. Everything was done in the written form and there were more of human efforts in it. And there are only two basic functions:  producing, organizing and visualizing data in an appropriate way. Then Future development leads to several advanced and developed technologies where companies can easily visualize their performances. Now, every short detail of the company is stored on computers. It is meant that rather than having an employee for looking all the document, we have significant decision makers showing the same information.  They help you visualize data more significantly in the same time period. 

Internet has changed it and allowed companies to look at the data spontaneously when the report was pulled. Several powerful systems have enhanced many companies ability where reports can now be updated in real-time, as everything comes accurately on the screen. Business Intelligence has taken a long route, by gathering huge data and then extracting the meaningful data which reduces the stress. And it is likely to become more important for the future as there is a huge impact on business intelligence functions on most of the companies. It allows reports to be pulled accurately and the chance of already undiscovered trend has increased. 

Today a wide range of Business Intelligence tools like Microsoft, etc are chosen by organizations. Organizations tend to use the business organization as it gives graphical view to their opportunity and helps managers in allocating the better sales resources. Business intelligence is now refined intensely. It enables companies to make smart and data driven decisions.  Many experts are expecting a growth of digital business intelligence where the platform will become more collaborative. The next generation business intelligence would be connected to advanced systems build with new technologies. Business intelligence development will soon come over new changes as the focus is on large touch devices. There are many vendors working for embedding the well-established work-flow. Integration abilities are expected to expand implementing business intelligence in other applications. 

Business intelligence system is becoming more transparent as the tools are becoming more accessible and companies have improved their activity by increasing user independence from the IT department.  Future business intelligence will not just provide you data, but also answers. 

Source: HOB