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Business Intelligence Software Vendors For Contextual BI

• Posted by Grow Dashboards September 9, 2022 Filed in Business #business intelligence tools  #business intelligence technologies  #business intelligence software vendors  #business intelligence services  9 views
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  Commonly, organizations utilize Business Intelligence technologies and analytics to answer crucial "what" questions, such as:

  1. what has occurred, 
  2. what is happening at the moment, and 
  3. what is expected to occur in the future.

  But the missing element is often why. 

   

  Business Intelligence software vendors use context analysis to help answer "why" questions. With it, businesses understand their customers, workers, equipment, circumstances, and trends' behavior. 

   

  Business executives can make precise judgments, while marketers can provide relevant messaging and user experiences. Although contextual analysis is not a novel idea, it is increasingly being used to enhance the bottom-line performance of Business Intelligence tools in several situations. 

   

  Margaret King, head of The Center for Cultural Studies & Analysis, remarked, 'Context is the key to everything people do; where you are governing and directs every decision we make.' 

   

  Mobility and IoT increase contextual analysis. Sensors acquire supplementary data that helps explain a person, place, item, or situation. 

   

  Competitive dynamics - the ability to gain and keep customers, reduce expenditures, and enhance profits - stimulate interest in contextual analysis. Analysis influences hedge funds, litigation, public safety, and risk management—naturally, the focus of Business Intelligence software vendors shifts toward contextual BI. 

   

  Contextual analysis may help firms understand why certain events are happening, not happening, or not happening as planned. What constitutes relevant context varies by use case, venue, and unique circumstances. 

   

  The Value of BI and Contextual Analytics 

   

  Business Intelligence tools are excellent means for contextual analytics in addition to their operational reporting features. Business users highly appreciate the Business Intelligence services and their capacity to give context and perspective in today's era of data explosion. 

   

  Yes, data on sales figures broken down by product category or even explanations for why Accounts Receivable (AR) numbers are suddenly rising may be presented in a report or chart. 

   

  But what if the tool could take a step further? What if the Business Intelligence software vendors could provide the background of why that is taking place? 

   

  Why is one product segment's sales income growing? Why are AR rates rising? Is it because the sales staff is promoting sales of a new product by extending credit terms? When given more context and depth, data and insights are genuinely helpful. It makes Business Intelligence tools even more relevant in the present world. 

   

  Contextual BI aims to explain something's "why." It calls for the capacity to combine diverse data sets, derive insights by combining data from many sources, create data models, and then provide context-rich information.

   

  Final Words-

   

  Grow's Business Intelligence Technologies: Contextualized information at your fingertips. 

   

  As leading Business Intelligence software vendors, our BI tools instantly allow business users to get accurate, context-specific information. A unique approach to democratizing knowledge is via our Business Intelligence services.  

   

  Your ERP, CRM, and other company platforms will contain much data and information. Frequently, sorting through all of this data is ineffective. What if you could pull up the precise data you require with just a few clicks? 

   

  Immerse into a data-conscious culture for your business with Grow's contextually-rich Business Intelligence technologies. To know more, connect with us.