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Reports vs BI

In business intelligence (BI), having access to and being able to utilize important information for the purposes of making sound business decisions towards reaching a specific, strategic goal is the most important aspect. As such, this makes reports and analysis the two most important tools for comprehending large amounts of data and determining a decisive plan of action towards achieving the desired results.

Business Intelligence Reports

In BI, the collection and presentation of data that allows it to be analyzed is known as reporting. Typically, this is referring to 2 things: the art of collecting data and the presenting of information and data. Reporting is often classified in a number of different ways, such as by determining the most important features or the reporting party's role.

The Benefits of BI Reports

As it is necessary to have comprehendible reports in order to be able to complete an analysis, there are certain unique benefits that it offers.
  • Layout-led Discovery
  • Data-led Discovery
  • Discover New Questions and Answers

Business Intelligence Analysis

When doing a business intelligence analysis, it is with the assumption that the data has already been reported and presented. The actual definition of analyzing is "to separate (a material or abstract entity) into constituent parts or elements" or to "determine the elements or essential features of." Therefore, in business intelligence, analysis is the process of taking the information apart and breaking it down into relevant pieces. In effect, to determine useful information that can be used to further the organization's strategy.

The Benefits of BI Analysis

Once the analysis is done, there is no limit to the possibilities for your business or organization.

  • The information collected can provide valuable insight into the dependent variables that your strategy aims to influence.
  • You may also uncover significant factors that are related to creating the changes that you want in the dependent variables.
  • They can show whether or not your strategy has been effective and why or why not.
  • They give you the evidence that you need to show stakeholders how successful your strategy is, interesting factors that have been discovered and any potential limitations.
  • The evidence and conclusions found provide valuable information that is relative to your field, and provides valuable insights for others to utilize when formulating a plan for success.

In the world of BI, reporting and analysis is the bread and butter of the field as a whole. Without both of these essential components it would be impossible to continually implement successful and proven strategies for growth and innovation.