Most people have heard of Business Intelligence and think of it simply as reporting, but there is so much more to it. Business Intelligence helps organise data so it can be easily accessed and analysed bringing many benefits to an organisation:
Templates or interactive reports (with selection filters) massively cut down the time spent pulling together reports.
Gain insights on company-wide or departmental stats to uncover what is working and what needs improving. Automatically send exception alerts to managers to ensure any issues are dealt with quickly.
Understanding your business data already provides a competitive edge. Further analyse that data to manage planning, budgets and forecasting to stay ahead of the competition.
Consolidate data from multiple sources across your business to generate real-time, accurate data which can be acted upon quickly.
Understanding customer feedback, behaviours and trends drive the best customer experience. BI helps organisations anticipate when customers place orders so that product demand and service delivery can be optimised.
Leverage external market data with internal data to detect new sales trends, as well as spotting business problems.
By consolidating business data, managers and employees spend less time tracking down the information they need. Instead, they can focus on their short-term and long-term goals and analyse any impact of their actions.
Leverage existing data to deliver information to the right stakeholders at the right time, optimising time-to-decision. Competitors move quickly, now you can too.
Use BI to compare different dimensions (such as this year vs last year) and identify any sales weaknesses. By listening to your customers, watching your competitors and improving your operations, revenue is more likely to increase.
Identify inefficiencies to increase margins. Better understand your customers and empower your sales teams to develop better strategies.