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BI software is a data analysis software that is designed to collect, analyze and report data for data queries, visualizations, and reports or dashboards. It provides users with much-needed insight into company-wide customer data and makes it more accessible and convenient to organize and analyze.
BI software plays a key role in helping companies make better, data-driven decisions by combining current and historical data and presenting it in an easy-to-consume format. Organizations can leverage this BI data to determine competitor and performance benchmarks, identify market trends to increase revenue, analyze customer behavior and much more in order to help optimize company performance and improve efficiency.