Data Visualization or Business intelligence (BI) leverages software and services to transform data into actionable insights that inform an organization’s strategic and tactical business decisions. BI tools access and analyze data sets and present analytical findings in reports, summaries, dashboards, graphs, charts, and maps to provide users with detailed intelligence about the state of the business.
- The most common use case for BI is dashboards with the company’s key performance metrics, to make data-driven business decisions.
- Self-service BI tools enable organizations to make the company’s internal data reports more readily available to managers and other non-technical staff so that everyone can make data-driven decisions.
- BI helps improve operational efficiency by identifying areas for optimization and process improvement. By analyzing data, organizations can uncover inefficiencies, bottlenecks, and areas of waste.
- Organizations can gain a deeper understanding of their customers. By analyzing customer data and behavior, organizations can identify patterns and trends to tailor marketing strategies, personalize customer experiences, and improve customer satisfaction and retention.