Business intelligence (BI) tools are types of application software that collect and process large amounts of unstructured data from internal and external systems, including books, journals, documents, health records, images, files, email, video, and other business sources.
These tools also help prepare data for analysis so that you can create reports, dashboards, and data visualizations. The results give both employees and managers the power to accelerate and improve decision making, increase operational efficiency, pinpoint new revenue potentials, identify market trends, report genuine KPIs, and identify new business opportunities.
These tools include key features such as data visualization, visual analytics, interactive dashboarding, and KPI scorecards. Additionally, they enable users to utilize automated reporting and predictive analytics features based on self-service. They help you in bringing all the relevant data together. Predictive analytics can help users to discover new trends and patterns.