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Free Business Intelligence Practice Tests - BI Basics
Needs and benefits
Following are the needs and benefits of Business Intelligence.
Central Data: The Business Intelligence tools (like data warehouse, data mart, package application etc) collects the data from globe and store it in a single central system, so that all the data available at a central point and one can access all the information form this central location. With the help of such tools an employee or business analyst can prepare report and can drill down the information with spending much of time searching for information.
Applicable for every part of Organization: The business intelligence tools and techniques can be applied to every party of organization either its Marketing, Finance, Production etc.
Quick answer to problem: The time taken by Business Intelligence tools to drill down the information and represent data in the form of presentation like chart, graphs etc is very quick and these presentation can be used to get answer to several business queries. Business Intelligence tools not only provide static information but can be used for the dynamic analysis of the business queries.
Cost Effective: By providing central data to the employees and customer the cost of gathering information and solving query reduces. Thus it provides a cost effective mechanism to an organization.
Find cause of Problem: It can be used to find the root cause of any problem which may arise due to previous action, or can be arrive in future within the organization. Sometime the information stored can be used to back trace the actions which are helpful in some other project or to find the chance of improvement in that method.
Minimize the Risk of Failure: When the study carried out in right direction using Business Intelligence tools and methods, the risk of getting failure reduces, otherwise if it deployed with incorrect inputs it leads to a downfall. That’s why one should be careful when dealing with BI tools.
Capable to Look in Future: The Business Intelligence methods and tools are capable of look in future. It can predict the output based on certain input data. Thus the organization can be informed in advance about the downfall which may arise in future and can take needful steps to prevent that risk/downfall.
