Information plays a crucial role in every decision-making no matter what it is about, and the same is true in search for the best business intelligence software. If you have no idea yet on how this software could help you, it would be wise to read first about the basic features of business intelligence, and how it can help your business. Hearing that your competitor is using it is not enough to make an informed decision regarding this matter. This article is designed to give you the information needed before making the decision of buying a software that should help your business.
To start off, you will learn about the key features of this kind of software and how each feature could be of help. You will also learn here why and how reviews from other users could influence your decision-making. Ultimately, this article will give you enough knowledge on what you should know and why it is important to read reviews so that no money and effort are wasted from your end.
What are the Key Functions of Business Intelligence (BI) Software
“Knowledge is power” and given this, understanding how does business intelligence software work is crucial before you make any decision in buying such product. Information technology greatly affects how the daily lives of people function and the same could be said for business operations. Most businesses are using different kinds of software to help in the management of every aspect of their business. Today, software intended for payroll, social media, email, kiosks, and customer relations, among others, are abundant. These are the more common versions of software, but how about the business intelligence software?
Business intelligence, in a gist, makes your raw data meaningful and useful with different processes, methodologies, and technologies. Some may contend that the job description of analysts covers the aspect of data analysis. No matter what the case is, technology is here to make the lives of humans easier. Processing of the raw data could be faster with the help of BI software.
Check out the four key functions of business intelligence software below.
- Business Intelligence Software Gives Reports
Why use business intelligence software? One of the obvious answers to this question are the reports it can generate for your business. The data available is processed in a way that you can understand what happened in the past and the present. Any business would benefit from such information because you might see the trends and patterns that may help you develop a more effective marketing strategy for your business. However, the reporting aspect of the business intelligence ends here. It can only give you reports, but it will not tell you what should be done in the future so you could reach your business goals.
- Achieve Quick Data Analysis With the Help of BI
Raw data is important because, without data, you will have nothing to serve as the basis for your analysis. No matter how hard you think or research, any conclusion you arrive at will be nonsense because it is not based on fact. The BI helps in the analysis of the available data and shows the existing relationship between different items. Is a specific indicator inversely or directly related to other indicators? Generated graphs can help you draw a better analysis of the data. Statistics can help you draw an accurate analysis of the relationships that are not immediately obvious if you are looking at raw data alone.
- Improve the Day-to-Day Activities With Monitoring
What does business intelligence software do? Monitoring is another feature of business intelligence software that will greatly benefit businesses. With the monitoring feature, you are able to identify the status of the different aspects of your business. The scorecards generated could help you be proactive in troubleshooting the problem areas in your daily business transactions. Forget about delayed interventions because monitoring is done at real time so you have the opportunity to make immediate decisions regarding important aspects. You do not need to wait for an analysis of the data because you can see right away what the problem in the operation is.
- Make Appropriate Actions With the Help of Predictive Analytics
Anyone who uses business intelligence software is aware of the essential information brought about by the predictive analytics of BI. The available data is processed in a scientific manner that will produce a forecast on the possible situation of your business in the future. While there is no guarantee that the prediction will really happen, it gives you an edge to know in advance the possible scenarios, so that you could act accordingly. For example, if the data available yields a prediction that you are not going to meet your sales target in the future, it is a good wake up call for you to do something to affect the future performance of your business.
How to Filter the Best Business Intelligence Software
Now that you are aware of the must-have functions of the BI, it would be easier for you to scrutinize every software available at the market. However, going through all of them could be daunting and no one has such luxury of time to go over each and every product available. In times like these, the best business intelligence software reviews come in handy.
Your decision on how to choose business intelligence software must not base solely on reviews. Some companies may have employed paid reviews to bring up their ranking. When you happen to fall upon these kinds of reviews, there is not telling what kind of recommendation you would get. As such, it is important to have at least the basic knowledge on what and how BI works. The first part of this article delves on that to make sure that you have at least an idea about business intelligence software no matter how small.
Feedback from other users will still play an important role in helping you find the most suitable BI software. But you need to be careful in choosing the reviews you will read. How would you know when a review is reliable or not?
- Look for Unbiased Reviews
Reviews selling or telling you to buy a specific product is an indication that they might not be very good reviews. However, not all reviews which tell you that a product is good and you need to buy it are a fraud. Be vigilant while reading the reviews and find proof and reasons why a person is claiming a certain product is good. If he is able to provide concrete examples and reasons, then that may be a good review.
Moreover, a good review will also tell you about the drawbacks of a specific software. No product is perfect and the same could be said even for the business intelligence software. A software could still be good even if it has some disadvantages as long as there are more advantages that you can get out of it. A review that points out both the highlights and the drawbacks of a product is a good indicator that the consumer who wrote the review really used the product and knows how it functions.
- Check if the Reviews are Reliable
This could be a bit difficult because it is natural for all reviews to claim that they are reliable especially when coming from a review site. As a heads up, be wary of reviews that can easily be posted by anyone. It is so easy to create an online account these days and posting a comment and a review about a specific product you have not even tried is possible. It will not hurt to search for reliable review site like CrowdReviews.com to see what they can offer. A good review site also has a good online reputation that you can see based on the rating of the users.
Going back to the question what is the best business intelligence software means you need to put together your knowledge on what it does and the recommendations of other users based on the reviews that they have written. Be careful in considering the reviews because there is also the possibility that the situation of that business is different from yours. Try as much as possible to find a feedback from someone whose situation is as close as yours.
Are you a local small business owner? For your sake, find a review coming from a small business because the needs of a big business owner could be different from yours. As a result, their needs are also different and they may be looking for a BI software feature that is not necessary for your business.
To wrap up, reading on how to evaluate business intelligence software will help anyone who is looking to buy such software. Moreover, feedbacks from other consumers may affect your decision in choosing the best product suited for you. However, you need to be careful in choosing which testimonial to believe because it may not be applicable to your situation. At the end of the day, best business intelligence software reviews published at CrowdReviews.com are proven to be reliable and come from various real-life users.
Latest posts by Jeev Trika (see all)
- 5 Reasons to Use Compliance Software for Business Management - November 25, 2016
- How to Find Reliable Reviews of Video Conferencing Software - November 24, 2016
- Why You Must Read Best Business Intelligence Software Reviews - November 23, 2016