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But data alone is not the answer—without a means to interact with the data and extract meaningful insight, it’s essentially useless. Business intelligence (BI) software can help by combining onlineanalyticalprocessing (OLAP), location intelligence, enterprise reporting, and more.
Dashboards are hosted software applications that automatically pull together available data into charts and graphs that give a sense of the immediate state of the company. Whereas BI studies historical data to guide business decision-making, business analytics is about looking forward.
Business intelligence solutions are a whole combination of technology and strategy, used to handle the existing data of the enterprises effectively. BI software solutions quickly and precisely deliver informative reports and, in the end, fit a solid basis for decision-making over business operations.
BI lets you apply chosen metrics to potentially huge, unstructured datasets, and covers querying, datamining , onlineanalyticalprocessing ( OLAP ), and reporting as well as business performance monitoring, predictive and prescriptive analytics.
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