Frequently asked questions
Use BI tools to store, automate, analyse, report on, and draw insights from your business data as well as predict future metrics. These tools can help you extrapolate critical insights from your sales, marketing, customer, financial, and other data, which you can use to make more accurate, informed decisions about your company’s operations and strategies.
BI tools use AI and machine learning to help you operate and expand your business in numerous ways, including:
- Collecting data with built-in features like surveys and questionnaires.
- Mining data on customer behaviour for patterns and predictions.
- Using self-service dashboards to focus and research specific questions.
- Tracking performance over time using KPIs and customised data dashboards.
- Analysing your data to detect trends to make agile and informed decisions.
- Transforming raw data points into maps, charts, and graphs with data visualisation.
- Creating reports of your findings to share with colleagues and key stakeholders.
One of the best ways to track data with BI tools is to create KPIs on your dashboard by which you’ll measure the success of your business decisions, campaigns, and strategies. For example, you might set a KPI of driving 25 percent more traffic to your website this year. Be sure to involve key stakeholders when setting these dashboard metrics.
BI tools make it easy for people within organisations—even those without much technical experience—to see, analyse, understand, share, and collaborate on their data. Organisations often use BI tools to automate data reporting, track sales revenue, pinpoint new business opportunities, optimise operational spending, identify operational issues that need adjusting, collect data about customer preferences, and analyse customer demographics, to name a few.
Yes. Granting people at all levels of an organisation access to BI tools is simply good business. In fact, self-serve BI tools and dashboards make data modelling, reporting, and analysis accessible to even the most non-technical of workers. Giving employees access to BI tools equips them with real-time insights they can use to work more productively and make more informed decisions about their projects.