Online business intelligence is a term referred to applications, tools, technologies, and practices for online integration, visualization, monitoring, analysis, and reporting of business data while generating actionable insights in a web-based, cloud environment. The purpose of online BI is to provide better decision-making processes while securing access to data on-the-go, via web browser, mobile devices and apps, thus enabling the user to save time and improve productivity. Reporting, online analytical processing, data mining, process mining, performance management, benchmarking, predictive and prescriptive analytics, BI technologies handle large sets of data all saved and stored in a cloud-hosted environment that ultimately provides access to data wherever the user is located, and from any device. Supporting a wide range of business decisions, from strategic to operational can be done from a single online BI software that provides the best possible information management solutions.
Online business intelligence can be applied for these purposes:
Performance management: Business leaders can derive actionable insights by using a smart online BI tool that will inform them how metrics and benchmarking progress towards their business goals.
Advanced Analytics: With various analytics options such as data mining, statistical analysis, predictive and prescriptive analytics, these solutions perform knowledge discovery needed to establish sustainable development.
Smart Reporting: Business intelligence can be used in reporting practices to create effective strategies, bring about new information with the help of interactive reports that involve data visualization, and an intuitive and comprehensive business dashboard.
Increased collaboration: By utilizing online business intelligence, collaboration between departments, internal and external stakeholders become easy to process and share. A simple link or login enables users to access all the business data in one centralized point.
Businesses of all sizes need a robust, reliable and easy-to-use business intelligence solution now more than ever before. In an age where analytics are the key of a company’s success and the amount of data created and accumulated has reached unprecedented levels, it is crucial for decision-makers, strategists and stakeholders to understand every aspect of their business. The importance of business intelligence in an online environment often is associated with cloud-based solutions that don’t require the complexity of installment or large IT support or departments. With an easy-to-use BI Tool, you’ll find the business of business intelligence to be stress-free. Thanks to an intuitive drag-and-drop interface and no SQL knowledge being required, you can leverage your databases and accumulated data to your best advantage, measuring performance, tracking productivity and predicting trends in minutes, not days. With everything you need at your fingertips and the ability to share data with colleagues, you’ll find your decision-making process less stressful and more strategic.