Business Intelligence Tools
WE HAVE ALREADY DISCUSSED that Business Intelligence is a process to collect data and extract information and then analyzing them in developing new and innovative business ideas but the whole method is based on different computing tools. These BI tools are kinds of application software assist in collecting, analyzing and presenting data. Different business intelligence tools addresses different factors and aspects in different ways but all are useful in overall function of BI.
This is the most common tool used everywhere from personal data storing and classification to a basic organizational tool. Excel sheets are easy to maintain, send through mail and primarily used to display data. It is the finest tool used in almost all organization to maintain a sitemap of every project.
Generally categorized as custom-built reporting tools and commercial reporting tools. The general purposes are to create, schedule, maintain and run reports. Business operation reporting is the common application in this category however; there are various reporting tools available depending on the type of requirements. Again these tools assist in creating your own reports and also distributing them through a single mode like email or other different channels.
Online Analytical Processing tools are used by more complex conditions when the quantity of data is very high and analyzing manually is difficult. These include H(hybrid)OLAP, R(relational)OLAP and M(multidimensional)OLAP and supports in analyzing data in many dimensions. Primarily these provide quick answer to complex analytical queries. Business reporting including sales, marketing, budgeting, financial reporting, management etc and hence also know as the online transaction processing.
Data Mining Tools
These are used to extract data like information about consumer by special software that can show some unique pattern or trends in a large amount of data. Classification and clustering are commonly used data mining tools. These are used for various purposes like identifying retail sales for a particular product and some transactions based data but are based on correlating different factors.
Enterprise Application Integration tools
These are used to consolidate and organizing various data, analyzing methodology, querying for enhancing business performance. Query tools are software that describes a particular pattern and gives details in the data.
The above-mentioned tools are some of the most commonly used in Business Intelligence system to meet all the business requirements. However, with growing consumer demand the need of BI also increasing leading to the invention of new tools and technology for better data collection and analysis.