Where and how Business Intelligence is used

    Examples of Business Intelligence Tools and Techniques

    What are examples of business intelligence tools? Predictive modeling, data mining and contextual dashboards or KPIs are just some of the most common BI tools. Here are more tools and how they’re used.

    • Analytics:

      A BI technique that probes data to extract trends and insights from historical and current findings to drive valuable data-driven decisions.

    • Dashboards:

      Interactive collections of role-relevant data are typically stocked with intuitive data visualizations, KPIs, analytics metrics and other data points that play a role in decision-making.

    • Data mining:

      This practice uses statistics, database systems and machine learning to uncover patterns in large datasets. Data mining also requires pre-processing of data. End-users use data mining to create models that reveal patterns.

    • Extract Transfer Load (ETL):

      This tool extracts data from data-sources, transforms it, cleans it in preparation for reports and analysis and loads it into a data warehouse.

    • Model visualization:

      The model visualization technique transforms facts into charts, histograms and other visuals to support correct insight interpretation.

    • Online Analytical Processing (OLAP):

      OLAP is a technique for solving analytical problems with multiple dimensions from various perspectives. OLAP is useful for completing tasks such as performing CRM data analysis, financial forecasting and budgets.

    • Predictive modeling:

      A BI technique that utilizes statistical methods to generate probabilities and trend models. With this technique, predicting a value for specific data sets and attributes using many statistical models is possible.

    • Reporting:

      Reporting involves gathering data using various tools and software to mine insights. This tool provides observations and suggestions about trends to simplify decision-making.

    • Scorecards:

      Visual tools, such as BI dashboards and scorecards, provide a quick and concise way to measure KPIs and indicate how a company is progressing to meet its goals.