Today, companies, whether large enterprise or smaller start-ups are using BI (Business Intelligence) which is a data analysis process aimed at enhancing the performance of a business by aiding the key decision makers of the organizations collect, retrieve, store and analyse vital data for making better and more-informed decisions.
One of the key components of the BI analytics initiatives in the enterprises are the tools which are used for helping an organization assess its business performance, business processes, market trends and other imperative factors for improving the internal operations and the corporate strategies.
The BI tools that are available in the market can be broadly segregated into the following major categories:
These tools help in generating the report type information which generally supports finance related organizational planning, performance management processes and the budgeting in an organization. These tools vary in sophistication from the simple report generators like SAP Crystal Reports to the detailed reporting software built in the form of elaborate ERP (Enterprise Resource Planning) suites like Orcale’s E-Business Suite and SAP R/3.
Sophisticated Analytics tools
These tools facilitate profound data analysis by leveraging the approaches like predictive analytics, for instance, IBM SPSS and SAS.
These tools can be used for business intelligence, and run the frequently used queries for providing the analysis of the data down to a specific level, as in the case of SAP Business Objects or IBM Congos.
Supporting and surrounding these tools is a Business Intelligence analytics infrastructure, which must be designed for ensuring access to a wide range of data subsuming in the public clouds and on the Web. Vendors like Microsoft and IBM provide exceptional support for querying the Hadoop big data systems and public cloud data stores along with the mobile device support. They also offer various ways for integrating these technologies with their existing BI systems.