BI Tools have many different forms and functions including analysis of simple data and also helping collect large amounts of data into an easy to read format. Each company has various sets of goals and that is why BI tools vary in cost and capability.
First off, the most basic business intelligence tools that majority of companies, businesses and individuals use is spreadsheet software. The main reason why spreadsheet software is the primary tool for business intelligence is because it is cost effective and can gather large sums of data and render it into very comprehensible formats for every member of the organization. From data plots to pivot tables, spreadsheet software such as Microsoft Excel takes the prize as the most effective tool for breaking down business intelligence data.
Understanding how to extract key opportunities from business intelligence data is vital to successful utilize the tools.
Spreadsheet software is a key element to any powerful business intelligence platform. Certain tools that utilize spreadsheet such as reporting tools help better visualize the data. This makes it easier for different individuals in the company to see the data and make better use of it. This universal framework of information can then be easily communicated within the company and business intelligence decisions can be taken much more rapidly based.
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