Most Common Types of BI Tools – Business intelligence (BI) combines data analysis applications to satisfy diverse information requirements. Consequently, there are several varieties of business intelligence tools that you must be familiar with.
Most Common Types of Business Intelligence Tools
Actually, there are numerous varieties of BI tools. However, we will only discuss the most prevalent available types. The following are some of the most effective business intelligence instruments available to businesses. Therefore, you must comprehend each variety thoroughly!
1. Analysis Performed
Additionally, some people refer to it as Ad Hoc Querying. In any case, it is a fundamental component of modern BI applications.
In addition, it is a primary characteristic of self-service BI software. Ad Hoc Analysis is the process of executing queries to analyze specific business issues.
Then, they are generated rapidly and executed frequently. The results are also incorporated into dashboards and reports.
2. Processing of Analytical Data Online (OLAP)
Belonging to the earliest technologies of BI, this instrument permits multidimensional data analysis. So, it is suitable for complex queries & calculations.
You will be able to directly execute OLAP analyses against columnar databases using this tool.
3. Operational Intelligence (OI)
Then, operational intelligence or operational business intelligence is also one of the most prevalent types of business intelligence tools.
In addition, this real-time analytics application provides operational information to frontline employees and managers.
It seeks to aid in operational business decision-making. Additionally, it expedites the resolution of commercial issues.
4. Mobile BI
Mobile BI enables access to business intelligence applications on tablets and mobile devices. People typically utilize it more for examining data than for analyzing it.
For your information, the emphasis is on usability. Typically, mobile interfaces only display two or three data visualizations.
5. Real-time BI
This category of BI tools consists of data analysis, collection, and processing. It intends to provide you with an up-to-date perspective on the financial market, consumer behavior, business operations, etc.
Real-time analytics frequently facilitates the use of decision analytics and involves streaming data.
6. Open-source BI (OSBI)
A typical open-source BI tool consists of two versions. The first is a community edition that is available for unrestricted use.
The second one is a release of vendor-provided technical support for subscription-based products.