Business Intelligence has been around since the 1970s, but it’s become more important than ever in the last few years. They’re needed because there is a great deal of information available to businesses, and not all of it is accurate. Business intelligence helps you find the right information to make decisions and take action.
Business intelligence (BI) is a term that refers to software that helps businesses collect, manage, and interpret their data. BI tools allow businesses to consolidate the data they have into easily accessible platforms to aid in decision-making.
Businesses collect data in a variety of ways. Some of this data comes from websites, some from databases, and some from reports. With the right BI system in place, businesses can organize their data into a single location so they can make smarter decisions faster. The benefits of business intelligence are increased efficiency, better performance, and more profitability.
Your business intelligence tool should be part of your overall digital management system. It’s important to have an organized approach to collecting data so you can easily find what you’re looking for.
1. Klazify
Although this isn’t a BI tool, we believe that it can be a game-changer if used in correlation with them. Klazify is a website classification and customer data API. It evaluates a website’s content and meta tags using Natural Language Processing (NLP) and a Machine Learning Engine. This API connects to a specific site or URL, gets the data. It then categorizes it into over 385 categories using the IAB V2 Standard Classification taxonomy for one-to-one personalization.
Thanks to Klazify’s domain classification, customers may easily obtain things like a customer’s industry, the number of employees they have, etc. Keep in mind that Klazify allows both base domain and entire path URLs when pasting URLs. The first is made up of the domain name and the top-level domain (TLD), while the second is domain-specific and enables for in-depth analysis and classification of online material in a given location.
2. SAP Business Objects
SAP Business Objects is a business intelligence application that provides extensive reporting, analysis, and interactive data visualization. Customer Experience (CX) and CRM, digital supply chain, ERP, and other sectors are highly included on the platform. The self-service, role-based dashboards that this platform provides are particularly appealing since they allow users to create their own dashboards and apps. SAP is a powerful program that caters to all roles (IT, end-users, and management) and provides a wealth of features on a single platform. The product’s intricacy, on the other hand, raises the price, so be prepared.
3. Microstrategy
MicroStrategy is a business intelligence platform for enterprises that provides strong (and fast) dashboarding and data analytics, as well as cloud solutions and hyperintelligence. Users may use this solution to spot patterns, spot new possibilities, boost productivity, and more. Users can connect to one or more sources, whether the data is coming from a spreadsheet, the cloud, or business data tools. It may be accessed from a computer or a mobile device. Setup, on the other hand, might need the participation of several parties and a thorough understanding of the application in order to get started.
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Also published on Medium.