Business Intelligence Tools Features for Decision Making Analysis

This report focuses on the features of Business Intelligence (BI) tools and their impact on decision-making processes. It highlights two key features: KPI (Key Performance Indicator) and data analysis, and reports and dashboards. KPI and data analysis involve analyzing data to identify crucial areas for business improvement, presented in a visually accessible format. Reports and dashboards provide real-time data analysis, enabling quick solutions and facilitating ad hoc queries for efficient data handling. The report emphasizes how these features support effective decision-making by providing simplified, real-time data insights and facilitating the identification of areas needing improvement, thereby enhancing business strategies and competitive advantages. References from academic journals and books are also provided to support the findings.

Information
technology

Table of Contents
QUESTION 2..................................................................................................................................1
Two features of commonly used Business Intelligence Tools that can support decision-
making.........................................................................................................................................1
REFERENCES................................................................................................................................2

QUESTION 2
Two features of commonly used Business Intelligence Tools that can support decision-making.
In technological advancement era, there are many software and application available that
helps business in taking effective decisions. There are many tools exist that is used by in
analyzing data to provide real time business solutions (Obeidat and et.al., 2015). This has
benefited in developing strategies and plan to attain goals and objectives in specified time.
Moreover, the BIM tools are SAP, Sisense, etc. they are the tools that helps in analysing data and
generating relevant outcomes. It consists of several features that perform different tasks and
functions. The features of BIM tool depends on how advance that tool is and in what area this is
been used.
They are as follows :-
KPI and data analysis – This is the most common feature of BIM in which data is analysed to
identify KPI. Through this, it is easy to determine effective areas of business. Moreover, KPI
helps in improving that area by which business can gain competitive advantage. However, high
value tasks are evaluated. The data is presented in visual form which makes it easy to understand
and find out KPI’s. Here, KPI is ranked on basis of results. By this those areas are identified that
needs improvements. Also, it supports in showing that how that area can be improved.
Reports and dashboards- It is also a feature of BIM tool where data is presented through
dashboards (Pydynowski and Larson, 2018). With help of it, real time data is analysed and
solution are provided quickly. Besides this, ad hoc feature enables in handling multiple
concurrent queries and reducing refresh times. Alongside it, reports are developed on data
gathered through market. The dashboard includes refreshed data from market. It supports in
effective decision making by interpreting data from large data set. In this pivot tables are built as
well that contains calculations. However, in ad hoc report user can chose specific element and
emphasise that only. Thus, on basis of this each area is evaluated and decision is taken.
So, these features of BIM supports in decision making by providing solution by analysing
data in real time (Zheng, 2017). The facts and calculations are presented in simplified manner
which makes it easy to understand. By evaluating reports decisions are made regarding any
changes required. Furthermore, best areas are identified and improvements are made.
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REFERENCES
Books and Journals
Obeidat, M. and et.al., 2015. Business intelligence technology, applications, and trends.
Pydynowski, M.C. and Larson, B.J., Capital One Financial Corporation, 2018. SYSTEMS AND
METHODS FOR MERCHANT BUSINESS INTELLIGENCE TOOLS. U.S. Patent
Application 15/813,688.
Zheng, J.G., 2017. Data Visualization in Business Intelligence. In Global Business
Intelligence (pp. 67-81). Routledge.
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