Why Companies should invest in Business Intelligence?
Business Intelligence has, in fact, become the top ranked IT priority for enterprise business leaders over the past few years, according to Redwood Capital. Business intelligence allows small, medium and large business entities to make better decisions by accessing their (big) data.
In practical terms, Business Intelligence can deliver a lot of benefits such as
– Better business decisions
– Improved data quality
– Improved employee satisfaction
– Improved operational efficiency and productivity
– Improved customer satisfaction and customer experience
– Increased competitive advantage
– Smash Sales And Marketing Goals
– Tighten Up Data Accuracy and Compliance
– Smart Decision Making
– Faster and more accurate reporting, analysis or planning
– Accelerate ROI
– Reduced costs
– Increased revenues
– Saved headcount
Nowadays companies are bombarded with ‘information overload’ and are urgently seeking ways to derive greater control, understanding and intelligence from their organisation’s data in the best and fastest way.
One of the best solutions to this growing problem is to adopt a Business Intelligence (BI) strategy, but in reality many companies are reluctant to do so due to a lack of knowledge of what precisely involves, where to start, and how long it would take to see any benefit.
Initially only large businesses could afforded the cost of introducing BI in their business process, but recent technological innovations SaaS (Software as a Service) on a cloud computing platform have leveled the playing field. As a matter of fact, even small companies that don’t accumulate a large volume of data can benefit from the use of BI.
Business Intelligence professionals like us seek to help organizations identifying where improvements can be applied. They can answer questions about how something happened, how often it happened, where a problem lies and what actions might be needed. Essentially, they deliver the information needed for data-driven decision making.
In particular, small companies are reluctant to put BI into practice: not only because they think it can be expensive and time consuming to set up, but because they are not clear about the benefits of using it.
For instance, information is often tabulated on Microsoft Excel spreadsheets, which nowadays is synonym of loosing of time that could address managers and business people to make wrong strategic decisions.
For bigger tasks, like taking a company to the next level, you need bigger, better, faster, and more efficient tools: why not using a BI tool such as Power BI ? You get insights into industry trends and can spot marketing opportunities that you would have otherwise missed.
Do you have questions? Do you want a free consultation about how to introduce BI in your business process? Contact us!