Microsoft Business Intelligence is the powerful business tool designed by Microsoft that offers excellent solutions for queries related to Business Intelligence and Data Mining. This tool makes use of Microsoft Visual Studio Data Tools along with SQL Server.
Importance of MSBI:
MSBI allows the user to access the updated and accurate data which in turn facilitates proper decision making in the organization.
Different processes to be taken up in business intelligence require different set of tools for the solutions and MSBI provides the user with different tools to accomplish the task. It has an important application in Online Transaction Processing.
Business Intelligence has a very important role in almost all sorts of business in future. The obvious reason being handling of big data, its analysis and making smart decisions related to organization is involved in every sector being IT, Engineering, Architecture, Banking, Government and Private agencies etc… and MSBI serves all the necessary requirements of BI
Future Aspects With MSBI
The business are now spread globally. The customer demands are increasing and to satisfy them and stay in the competitive environment successfully Business Intelligence is foremost requirement. Its perspectives in the future are detailed as follows:
Forecasting Using MSBI:
MSBI uses data mining tools and Predictive Analysis being the branch of data mining is beneficial in making future predictions by the analysis of present and the past data. The tool can help the organization to work on their drawbacks, keep up with the strengths, understand the requirement of the customers in a better way and reduce the chances of occurrence of any loss and maximize the profit.
Widened Use of Business intelligence :
The users of BI in the past were limited but now it is increasing day by day. Along with the increased number of users the areas involving the use of Data Analysis is also increased. For example: Earlier the BI was employed only for statistical and corporate data analysis but now BI is used to follow up all the data related to various categories of an organization including employees records and performance because that also play an important role for growth and progress. Analysing data associated to each division will lead to company's progress as a whole
Big Data Analytics :
A huge amount of data is generated everyday rather every moment. It is very important to properly collect the data, organize the data, analyze the data and lastly preserve the data for later reference.
The process can be very complicated if handled out by old methods. MSBI helps you to achieve such an requirement in no time.
Real Time Data :
One of the most important reason of the increasing demand of MSBI is due to Real Time Business Intelligence. It is capable of generating the business report soon after its occurrence within the range of few milliseconds. In comparison to traditional method that provides only the data related to past real time allows you to make the immediate required corrections and to take the right decisions. It is very essential for successful running of a business.
All the above data clearly state that Business Intelligence is not only the need of the hour but its scope is enlarged with every advancement in technology.