This powerful tool comprises the technologies used for data analysis of business by enterprises. BI technologies provide historical, present and future views of Business operations. It can handle large amount of structured or unstructured data to help to identify or develop new strategic business opportunities. The main objective is to allow easy interpretation of the big and complex data.
BI tool can be used by enterprises to support wide range of business decisions. Certain strategic business decisions such as priorities, goals and directions can be determined using effective BI tool. Internal data of the organization can be combined with data derived from the market in which company operates. This creates an “intelligence”, and this business Intelligence empower organizations to gain insight into new markets, to access demand and suitability of products and services for different market segments. It can also be used to derive at different financial ratios of the company resulting in increased profitability.