The Top 3 Features of Business Intelligence Tools
Updated: Mar 18, 2022
The features of business intelligence tools give companies the ability to gather, use, and share data in meaningful ways.
Usually involving a fully-integrated BI solution, business intelligence tools work across departments and bring all real time data into one unified BI platform. From this place, employees can identify trends, insights, and correlations that can lead to positive change within your business.
Let’s break down the key features of business intelligence tools and how they can better impact your day-to-day operations.
1. Interactive Dashboards
As one of the primary reasons companies look for solid business intelligence software, interactive dashboards are quickly becoming a must-have tool for SMBs and organizations everywhere.
The main benefits of interactive BI dashboards include:
Customized: BI dashboards are often customized by a business intelligence provider. As a result, your company gets everything it needs from an interactive dashboard, and there are no extra features to weigh it down.
Drag And Drop Features: In many cases, modern BI dashboards are incredibly easy to use and extremely versatile. Even though you’ll likely be provided with a starter template, end-users can change their dashboards to better fit their data visualization needs. As a result, employees can create the visual outcome that works best for them.
Real Time Data: Business intelligence dashboards bring together data in real time to create actionable insights. In other words, employees will always be working with the most up-to-date information possible. You’ll no longer be forced to work with reports that took days to create, which means you can make better decisions faster.
Multi-Device Functionality: With modern, cloud-based BI tools, employees can access dashboards from any device or location. This can provide major benefits to those employees who travel often for work or for employees who work remotely.
2. Simplified Analytical Processes
With a fully-integrated BI tool, data analysis is easier than ever.
Back in the day, gathering, analyzing, and sharing data was often performed by multiple, high-dollar specialists. However, modern features of business intelligence tools give anyone the ability to analyze and process data themselves.
This can benefit your company in more ways than one:
Your BI solution is now your data analysis expert. Save your money or use your savings to hire an employee who’s great at finding ways to leverage insights your BI solution provides.
Data is visualized in real-time. You don’t need to worry about preparing reports weeks in advance.
Analytical processes are automated. Mistakes in entering and processing data won’t happen, and you can rest easy knowing that you’re working with the most accurate data available.
3. Comprehensive Reporting Tool
As far as top business intelligence features go, reporting is definitely up there.
With a few clicks of a button, you can customize, create, and share a report with your entire team. Not only will this report be automated and accurate, but it will be created with 100% real-time data.
On top of this, you can access, view, and analyze reports from other departments and see how they affect your department.
For example, how impactful would it be to see if employee retention changes based on the hiring manager, the department manager, the frequency of performance reviews, or the average salary? With automated BI software, it’s possible to gather all this data into one easy-to-analyze report.
Additional examples of BI reporting benefits:
Pull together data sets from all areas of your business and create unique reports and data visualizations that serve a specific purpose
Rank the data in your reports and quickly identify which facets of your business are underperforming or over-performing
Find outliers that indicate potential problems with employees, production, processes, or products
Use simplified reporting tools to easily share reports with other department heads or executives
How Teamworks Can Help Your Business
Providing your business with fully integrated business intelligence tools is essential to the success of your company. So let us help.
At Teamworks, we specialize in designing, building, implementing, and managing completely custom BI solutions for companies of all sizes.
Schedule your free demo today to learn more.