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Does My Company Need Business Intelligence Software?

Finance Tech

As a business owner, it’s important to realize that Business Intelligence software is one of the most valuable tools that you have at your disposal. Even startups and small businesses can benefit greatly from the integration of these solutions. Business intelligence is described as the applications and best practices that allow business users to efficiently analyze data and extract meaningful insights in order to improve performance. Failing to utilize your rich business data and metrics does your company a great disservice. The following are examples of incredibly useful enterprise software solutions, as well as tips for finding the perfect integrations for your personal business needs.

Business Intelligence Software Integrations

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Business Intelligence software plays such an integral role in the growth and success of businesses. Even small businesses can benefit greatly from these software integrations. In order to make informed business decisions, you need powerful Business Intelligence software to analyze your business data and assemble meaningful insights. The best software integrations are able to gather and translate business data into an easily digestible format that makes it highly accessible to business users. During the process of examining your business data, it’s important to have software that can efficiently identify trends in the behaviors of your business, your customers, and the market. This is a vital feature that is required for creating actionable insights for business users. Many users also look for software integrations from analytics platforms with not only the highest ratings, but also advanced technological features like artificial intelligence, data visualizations, and other modern analytics tools.

Analyzing the Benefits of Software Solutions

Gartner is a highly regarded advisory and research organization that helps business executives make informed decisions for their company. Gartner’s experts create Gartner Peer Insights Reviews and other research publications. Technology users utilize Gartner research publications and analytics tools in order to determine the best options of BI solutions for their particular company. One analytics and research tool from Gartner that serves this particular purpose is the Magic Quadrant. The Magic Quadrant Analytics and Business Intelligence report names top Business Intelligence platforms and categorize them within the confines of the graph. The Gartner Magic Quadrant was created and released as a part of a larger research document. The analytics regarding the BI platforms that are displayed in the Magic Quadrant should be considered in the context of the entire document. The Magic Quadrant and BI report is a registered trademark of Gartner, and companies that are named as challengers and market leaders in these reports are then highly regarded within the industry.

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The Gartner Peer Insights Reviews of the Business Intelligence platforms that are included within the Magic Quadrant graph don’t directly reflect the views of Gartner or the opinions of Gartner itself, but they do reflect the in-depth research that is completed for the Gartner document. The designation of Magic Quadrant leader for Business Intelligence platforms is based solely on statements of fact, and is done so with the use of Gartner’s trademark analytics tools. Gartner’s assessment of BI platforms takes into consideration the market leaders and how these leaders integrate modern analytics techniques into their business practices. Data preparation and data culture play an important role in who is chosen as a Magic Quadrant leader. While it’s important to consider the subjective opinions of individual end-users, the service mark of Gartner reflects comprehensive research techniques and tools, to offer the most accurate insights into BI solutions.

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BI platforms named in the Gartner research publications typically change from year to year, but when analytics vendors consistently upgrade their techniques and implement the most modern analytics tools throughout multiple consecutive years, Gartner takes notice. It’s important to pay attention to the challengers and market leaders listed last year compared to this year. If you notice particular companies winning the same title for the second year in a row, this is likely a company to watch out for and integrate their solutions into your own operations.