It is a misconception that business intelligence and reporting tools are one and the same. The reality is that there are two separate entities that are very important for successful business management.
While business intelligence is a technology that has the potential to unlock the importance of data stored in your company's database in all departments, a reporting tool is an application. You can also use power BI reporting tools and templates of vizbp.
This makes it easy for you to present data in charts and graphs, so you can understand the meaning of this data to get valuable information. However, it is important to note that most reporting tools have a standard format where there is little room for adjustments.
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Let's look at the following scenario to clarify the differences that exist between the two. Suppose you have a detailed sales report for all products in your inventory, article numbers, sales prices, and monthly sales for each article.
With so much data for you, it will be difficult to get valuable information from reports. If there are hundreds of products, the data in your reports can grow. You need to spend a lot of time analyzing and understanding its meaning, which means business decisions are delayed. Business Intelligence helps you here.
If you have a reporting tool that is based on business intelligence, you can present your data in charts, metrics, graphs, and much more that is visually appealing. Tools with drag & drop functions, user-defined filters in many fields, etc.
Make it easier for you to recognize new data connections. You can quickly identify the lowest and best-selling products for different months of the year. This in turn gives you clear information about changes in demand for different products in different months or seasons.