.
Business Intelligence and Data Analytics Software Overview Business Intelligence and Data Analytics Software Overview
contacts Sign In

Insights

Articles, news, views, and opinion and Enterprise Technologies.

Business Intelligence and Data Analytics Software

By A Staff Writer | Updated on 22 Aug, 2022

Business Intelligence and Data Analytics Software

Business Intelligence and Data Analytics software enables the process of viewing, purifying, and changing raw data into a usable form to gain business insights. Raw data needs review and purification for several reasons, primarily:

  • Raw data in its original form would be too much information to review as-is regularly.
  • Raw data may contain outliers, anomalies, poorly gathered data, and numbers that are statistically insignificant. Eliminating these cleanses the data so that it shows a truer picture.
  • Data analytics can prioritize data so that you see the most relevant analyzed data first.

There are four types of data analytics:

  • Descriptive Analytics – What happened? (e.g., Q4 revenues)
  • Diagnostics Analytics – Why is it happening? (e.g., A closer review of why Q4 revenues declined 15% YOY)
  • Predictive Analytics – What do we anticipate will happen? (e.g., Fall 2022-Women’s Clothing Trends)
  • Prescriptive Analytics – How will X action impact the company? (e.g., Scenarios for Entering a New Market)

Business Intelligence (BI) takes data analytics to the next level, and businesses need both to get the most out of data analytics. BI combines data collection, analytics, data visualization, and data infrastructure to give a company a whole picture view.

Leaders throughout the organization use data analytics to stay the course, make the most data-driven decisions, and quickly adapt to changing:

  • Regulations
  • Markets
  • Customer preferences
  • Supply chain
  • Technology trends

Business intelligence and data analytics software helps a company increase inter- and intra-departmental efficiency, eliminate waste, and steer the company into the future.

Use Cases for Business Intelligence and Data Analytics

Organizations invest in data analytics and business intelligence to:

  • Real-time useful information – Get information quickly, efficiently, and in a useable form (data visualization) – According to MIT, it takes 13 milliseconds for the human brain to understand a visual compared to the minutes or hours it might take the review data in a rawer form.
  • Align KPIs with business strategies – Determine which performance indicators are most relevant and important (KPIs).
  • More frequent performance communication – Empower members to improve their performance through access to their data on-demand–not just at performance review time.
  • Save time – Noone has to compile data from multiple locations or create reports. Data analytics and business intelligence software do that for you.
  • Get more useful customer insights – Enhance customer experience and increase revenues. Learn more about sales trends, your customer’s typical sales cycle, and the Buyer’s Journey to becoming a customer
  • Protect the business from online threats – Yes, data analytics can identify suspicious network activity to take action and/or notify you.

Business Intelligence and Data Analytics Software – Features and Functionality

  • Data visualization, Charts, Graphs, Mapping, Plots, etc.
  • Customizable reports
  • Automated running, analyzing, and delivering of reports to key leaders
  • Competitor intelligence
  • Tools for Sharing & Collaboration on an Analytics Report (especially important when some people work remotely)
  • Integrate third-party BI tools and native apps to enhance data collection and analytics
  • Available across devices and easy to view on any device
  • Real-time data

The above is a summary of key features.

Transformation Licensing Options:

We keep the licensing options – clean and straightforward.

Individual License: : (Where Available). An individual license is for personal use.You will pay only once for using the deliverable forever. You will have access to any new updates within 12 months after purchase. You are not authorized to use an individual license in a corporate setting or consulting situations.

Enterprise License: An enterprise license is applicable if you are representing a company, irrespective of size, and intend to use the deliverables across the company. You pay only once for using the deliverable forever. You will have access to any new updates within 12 months after purchase. You may not use the deliverable in consulting.

Consultancy License: A consulting or professional services or IT services company that intends to use the deliverables for their client work needs to pay the consultancy license fee. You pay only once for using the deliverable forever. You will have access to any new updates within 12 months of purchase.

Transformation Product FAQs:

Can I see a Sample Deliverable?

We are sorry, but we cannot send or show sample deliverables. There are two reasons: A) The deliverables are our intellectual property, and we cannot share the samebefore payment. B) While you may be a genuine buyer, our experience in the past has not been great with too many browsers and not many buyers. We believe the depth of the information in the product description and the snippets we provide are sufficient to understand the scope and quality of our products.

When can I access my deliverables?

We process each transaction manually, and hence, processing a deliverable may take anywhere from a few minutes to up to a day. The reason is to ensure appropriate licensing and also validating the deliverables.

Where can I access my deliverables?

Your best bet is to log in to the portal and download the products from the included links. The links do not expire.

Are there any restrictions on Downloads?

Yes. You can only download the products three times. We believe that is sufficient for any genuine usage situation. Of course, once you download, you can save electronic copies to your computer or a cloud drive.

Can I share or sell the deliverables with anyone?

You can share the deliverables within a company for proper use. You cannot share the deliverables outside your company. Selling or giving away free is prohibited, as well. You may not list the products on any public website or forum.

Can we talk to you on the phone?

Not generally. Compared to our professional services fee, the price of our products is a fraction of what we charge for custom work. Hence, our business model does not have enough margins to offer pre-sales support.

Do you offer orientation or support to understand and use your deliverables?

Yes, for a separate fee. You can hire our consultants for remote help and in some cases, for onsite assistance. Please Contact ITBits for consulting services.