Data Analytics

Growth hacking: 5 Ways Business Intelligence AI Helps Your Business

Business intelligence is an essential tool for optimizing business performance. Find out in our article how you can use a BI AI

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In the emerging 21st century, AI business intelligence tools have expanded with macroscopic speed. Combined with the powerful AI features, business intelligence becomes an essential tool for understanding and optimizing business performance. Find out in our article how you can use a BI AI tool to meet the needs of your business!

As a bonus, in the final lines of this guide, you will learn about our recommended tool aimed at helping your company create a comprehensive BI system.

What is AI Business Intelligence?

According to a report by Statista, by the end of 2024, the global business intelligence market is estimated to reach 27 billion dollars. AI Business intelligence, or BI AI, is a set of tools, methodologies, and techniques used to sort and clear raw clutches of data. 

AI and business intelligence sort the cleared data to develop useful perceptions and understandings that can be further used while making decisions. Business intelligence AI involves analyzing data in order to understand potential and capability. The collected data is further used to help improve business performance.

More theoretical info can be found in our latest blog post about what business intelligence is . Going deeper into our article, we continue to go deeper into the technical aspects of how AI-powered business intelligence can drive higher profit flows for businesses.

How Does AI in Business Intelligence Help Your Company Grow?

Data is a vital asset that provides valuable insights and predictions for business improvement. BI AI can be used by companies from various industries (finance, retail, e-commerce, healthcare, etc.) to optimize efficiency, increase revenue flows and improve profitability.

Here are 5 ways in which an AI BI feature can help your company gain higher performance.

1. Faster Data Interpretation Using AI and Business Intelligence

Data is a vital asset that provides valuable insights and predictions for business improvement. AI business intelligence platforms have data visualization capabilities to allow users to automatically transform data into charts, graphs, or other visual presentations.

The AI business intelligence feature is equipped with an AI chat for users to quickly and easily see and understand patterns, relationships, and development trends that might go unnoticed in a spreadsheet of raw numbers.

With this kind of AI in business intelligence, business owners can extract data from internal and external sources. Users can then decide between the many options from Insightbase, which is the most appropriate graph to present the data, or allow the AI BI app to automatically make a recommendation based on the data results.

2. There is no Need for Advanced Analytical Skills or Experts

Traditionally, big enterprises hire an IT department or a specialized expert with in-depth knowledge of SQL or data reading scripts. With AI for business intelligence data visualization, customers can gain new and unique insights by creating complex mashup data clusterings using just a chat. No additional technical abilities are needed!

BI AI tools can also create narratives about your business without the need for a competent data analyst. There is no need for specialized training or sophisticated skills. Users can simply chat with our bot and make requests to interpret the needed data.

3. A Valuable Perspective on Customer Behavior

Big data has become a crucial tool in understanding consumer behavior, research, and purchasing decisions. The growth of social media channels has accelerated data creation, allowing businesses to stay updated on trends and improve their customer service. The latest data shows that, in 2024, over 28% of business leaders are starting to implement AI to minimize their company costs.

By connecting their database with AI business intelligence software, businesses can leverage this data to stay in touch with their customer base and stay ahead of their competitors. AI and business intelligence can transform hundreds of pieces of collected data into readable information, from which businesses can gain insights on how to meet their customers' needs and stay ahead of their competitors.

4. Better Decision Making With AI in Business Intelligence

A fundamental aspect of data clustering with business intelligence AI software is that it simplifies decision-making. Company owners can save time creating revenue reports since the AI BI tool will easily do it for them. The data is processed by AI and business intelligence and transformed into a structured format that can be easily understood and analyzed by business decision-makers.

Business owners can benefit from using AI business intelligence features to make more informed decisions, identify new opportunities, and optimize internal processes based on real-time data reports.

5. Improved Return on Investment (ROI) 

All the strategies of AI business intelligence incorporation mentioned above will contribute to an improved return on investment for your company. Better decision-making strategies with fewer resources are the main goal of using our AI in business intelligence platforms.

Continue reading our article to discover how our AI for business intelligence program is designed to facilitate the successful implementation of artificial intelligence into the processes of your company!

How to Introduce AI Business Intelligence Solutions to Your Workplace

Still doubting how to blend our business intelligence AI tool into your business? Insightbase is a safe and easy-to-comprehend business intelligence and AI solution. To try Insightbase out and see if it is suitable for the needs of your business, you can sign up and request a personalized demo. After that, all you have to do is get in touch with our team by contacting us directly or filling out our online form , so we can get back to you.

No coding or advanced analytical skills are required! AI for business intelligence is aimed at easing the process of understanding patterns and correlations between sequences of data.

For a reasonable price , Insightbase, an AI business intelligence platform, allows users to chat with their database, and detect anomalies. Insightbase business intelligence and AI services are specially designed for non-tech people!

Our AI-powered business intelligence solution is equipped with tools that provide dashboard creation and visualization, interactive reports, and notification alerts. All that is to help businesses stay in touch with the latest market trends. Just have a chat with your database!