Business intelligence analytics software converts the raw data into meaningful information. Businesses tend to opt for a BI solution to identify opportunities.
At the current point in time, data is the most important thing in any organization. Enterprise businesses contain huge data that is normally in raw form and hence, hard to analyze. Therefore, the tech industry sensed the need for a solution that should convert the raw data into a useful and meaningful form. In fact, there is a huge population that has become active over the internet and leverage many kinds of applications such as gaming apps, data transfer apps, social media apps and etc. Hence, it is no less than a challenge to gather, store, compile and analyze the data for various business operations.
Open source community has developed a number of free and self-hosted business intelligence projects that offer enterprise-level features for businesses. However, there are many open source business intelligence systems available that automate the processes of data gathering and transforming it into information. In this blog post, we will cover the following points.
- What is Business Intelligence?
- Functionalities of Business Intelligence
- How Business Intelligence Software Improve Your Business?
What is Business Intelligence?
Business Intelligence is a process according to which business entities collect and organize data into readable and understandable forms. There are many top BI tools that are used to present data in visual form so that stakeholders can get the whole idea at first glance. These free BI and analytics software perform integrated processes upon raw data and then manage and structure that data using various methodologies. Further, open source business intelligence projects enable users to observe and track the real-time change in the data. In addition, business intelligence solutions provide seamless integration with third-party applications to enhance the experience and scope of these free tools.
These solutions are equipped with comprehensive features to provide detailed data insights, site visitor behavior, visitor location, demographics and hence, are considered Google Analytics alternatives. The user interfaces are highly informative due to various widgets that not only show data in numbers but also make use of visuals. Moreover, users can modify the theme and position of various widgets as per their choices. Web analytics software use algorithms to perform analytics on data to predict future trends and directions.
Functionalities of Business Intelligence
In this section, we will cover the following functionalities offered by Business Intelligence.
Real-Time Monitoring: Business intelligence projects offer provisions to track and observe the continuous fluctuations in data in real-time. The data insights include the number of visitors, visitor behavior, demographics, number of sessions and etc.
Analysis: BI solutions analyze a huge amount of raw data by using various modeling techniques. In addition, web analytics software performs aggregation and correlation techniques to make data valuable.
Reporting: After performing a critical analysis, top BI tools generate comprehensive reports for a clear understanding of the business data. These open source business intelligence projects let users download the reports in various formats.
Intuitive Dashboards: Business intelligence analytics software comes up with a rich-featured dashboard that shows data into different types of charting tools. Moreover, users can customize the widgets regarding their position to modify the dashboard as per their preferences.
Collaborative BI: Most of the open source BI software provides an integrated platform that shares valuable information with different stakeholders of the organization.
How Business Intelligence Software Improve Your Business?
In this section, we will highlight some of the major key points that help a business grow exponentially. These are the following business benefits of open source business intelligence solutions along with many other applications.
Decision making: Business intelligence tools are used to structure the unstructured data so that the higher management can analyze it in making critical decisions. Moreover, these free tools give a clear picture of past and present business standing so that business stakeholders can take necessary measures for the future.
Identifying market trends: Business intelligence and data analytics solutions come with powerful reporting tools that let users identify current and future business trends and the interests of consumers.
Competitive edge: Businesses that tend to have business intelligence systems secure a competitive edge. They become self-sufficient for fetching important business insights out of huge data and making the right decisions. Above all, these open source business intelligence projects come up with automation features to automate repetitive tasks and hence help in saving time and human cost.
Scalability: Open source BI and analytics software are extensible regarding development and usage. These free tools are capable enough to deal with large data sets. Further, these BI tools come with self-hosting capabilities and Docker images that are easy to scale either vertically or horizontally.
Data-driven results: Free BI solutions present results based on factual data which in result enable business entities to make decisions and improve business strategy.
Business intelligence and business analytics tools have become an important part of any successful business. Such solutions provide useful information about the past and present performance of an organization while predicting the future. The demand for free and open source business intelligence projects is increasing with the passage of time. There is a huge developers base that is actively doing further development to improve these business intelligence solutions with the help of artificial intelligence and machine learning. However, we have gone through some important aspects of open source business intelligence systems regarding business growth and progress. This blog post will help you if you are looking to deploy an open source web analytics software. There are many open source top BI tools enlisted in the Explore section below.
Finally, containerize.com is thriving to enhance its tutorials bucket that includes other open source BI solutions. Therefore, stay connected with Business Intelligence Software category for the latest updates.