Any real time, current or past information is called business intelligence and this information can be used by different business professionals like managers so that they can analyze and have an idea on the course or where the business of the company is going to. But before the information can be suited for use in the decision making process of a company, it needs to be sort out and analyzed especially business intelligence is a stream of data. In order to ensure fast speed and accuracy in the collection of data and analysis procedure, software solutions are used in sorting and analysis of relevant data. All software solutions therefore that help in the process to get business intelligence are called business intelligence tools. Therefore, in order for a company to adjust quickly to a changing business environment, business data is to be used, while the ensuring of the business environment of a correct and reporting fast in the decision making process would fall on the business intelligence tools. The sorting and analyzing of historic data are generally done with the aid of business intelligence tools which were stored ahead in the database of the enterprise.
There are different classification of the business intelligence tools when being used, and these are the local information systems, business performance management, process mining, dashboards, online analytical processing, data warehousing, data mining, reporting and querying software and spreadsheets.
Note that many of the business intelligence tools enumerated above, with the exception of spreadsheets, are readily part of the software that would suit for a specific business, standalone solutions, ERP system components or as business intelligence software suite. In answer to a specific requirement of a client, the mentioned solutions are usually developed by a custom development company so that the requirements that are specified by the client are done, or after a thorough analysis of the business model of the firm. The design of business intelligence which the company will implement will depend on the industry, market conditions, and also market requirements that are specific.
There are terms synonymous with local information system which are used from different areas of the world like data observatory and community information systems, of which the system is to provide support for the reporting of geographic enterprise operations. LIS or local information system tools have unique functions that include providing an area a specific database that can be accessed by citizens, policy makers, managers and data experts.
With regards to the next tool called business performance management or BPM, it can be referred to the set of management and a process analysis of which the design is made to facilitate the improvement the processes within the company in lined with the goals of the firm that were preset already.
A company can search for data experts that can help in the setting up of its business intelligence tools, and a certain name that you can view of his services is Mayank Gupta.