Why should you use a business intelligence (BI) tool? Because big data is everywhere, and you need a reliable way to distill and consume that information effectively. Put simply, a BI tool is a type of application software designed to retrieve, analyze, transform, and report data for enterprises.
Since the 1960s, business intelligence has been evolving alongside the technology it accompanies, and when in use, it provides a holistic and comprehensive view of your business data. These tools, such as Tableau, can extract information gathered from your business’ designated data warehouse to provide targeted intelligence in a timely manner, and improve the decision-making process.
Whether they realize it or not, every department is collecting data on a daily basis. VoiceBase helps these businesses gain a better understanding of their customer’s wants, needs, and concerns by automatically transcribing, analyzing and predicting events within customer data using AI-powered speech analytics.
Without a BI tool, all of this insightful data is just sitting there–unorganized and under-utilized. Unstructured data is not only a huge problem, but a growing liability, with Gartner estimating that as much as 80% of the world’s data is unorganized. “We found that while 74% of firms say they want to be ‘data-driven,’ only 29% say they are good at connecting analytics to action. That is the problem,” says Brian Hopkins, VP Principal Analyst at Forrester Research Inc. It’s time to connect the dots, and implement a business intelligence tool. Here’s five benefits to using a BI tool with your speech analytics efforts.