August 1, 2019
Business Intelligence (BI) is a modern age technological concept where organizations irrespective of whether big or small invests in these solutions. The reasons for such investments are different based on the business wise specific requirements and industry verticals. The best part that BI offers over MIS is the interactivity function.
MIS is just a small part of the entire Business Intelligence (BI) framework. These were especially used for revenue and expense reporting, burdened with inaccuracy, inconsistency and unmanageable complications.
EasyReports is a Management Information System (MIS) and Reporting Automation application which can connect to Enterprise Resource Planning or ERP like Tally.ERP9, SAP B1, D365 and NAV and simplify your reporting needs with its dynamic dashboards along with various support drag and drop features and can be customized as per the client’s requirement. EasyReports comes with Report Scheduler for automated reporting and alerts.
Statistics suggests that businesses using analytics are 5 times more likely to make better and quicker decisions. Such is the demand of business intelligence in current business trends of the organizations. It is therefore, clear that all those tools that facilitate BI are very much crucial to the future of any organization competing in the digital arena irrespective of industry, sector or even the size of the company.
Characteristic Features of BI
Some of the characteristic features of Business Intelligence tool are as follows;
- BI is created by acquiring data and information used in decision making and comprises of data along with the reporting tools.
- It is an amalgamation of skills, processes, technologies, applications, practices and methods strengthened by fact based support systems.
- Business Intelligence (BI) tool accumulates, incorporates, stores, analyzes, and provides access to organizational information and access to business insights that leads to better, faster and more relevant decisions.
- It is an environment in which business users acquire reliable, secure, consistent, understandable, easily manipulated and timely information.
Benefits of BI
The benefits of Business Intelligence are many. Some of them have been discussed here;
- BI tool assists in the planning, controlling and measuring changes that results in an increased revenues and reduced costs.
- Business Intelligence helps in the Improvement of business operations and Management Processes.
- Fraud detection, order processing and purchasing that results in increased revenues and reduced costs.
- Prediction of future becomes quicker and easier.
