Business Intelligence

Business Intelligence (BI) provides companies and enterprises with a more holistic view of their business, making valuable recommendations for profit margins increase, operational spending decrease, and achievement of competitive excellence.

Business Intelligent Software is a computer program that processes and analyses raw data, providing meaningful information in order to optimize strategic decisions and overall performances. 

Based on analyzed data, BI software creates reports, dashboards, summaries, graphs, and charts to provide companies with valuable information about the status of their business. 

Advantages

The most substantial advantages of Business Intelligence

Data-driven decisions

Business Intelligence parses data and produces reports, allowing company managers to make more informative and effective decisions.

Intelligent business strategy

Business Intelligence provides a bird eye’s view of overall market and company performance within it. Based on the information provided by BI software, organizations can adjust their strategies and optimize business processes.

Boost productivity

Business Intelligence is able to identify inefficient areas, optimize existing business processes, automate routine tasks, and prioritize more relevant work.

Some perks of using Business Intelligence:

1.     Visualization 

Some data types under processing are extremely complex and difficult to interpret. BI software meets this challenge with its visualization capabilities, allowing users to easily create intuitive data visuals that are easy to interpret and understand. Compared to long textual documents and spreadsheets, graphs, charts, animations, videos, and infographics provided by BI are more engaging and require only a glance to interpret and digest.

2.     Opportunity identification

Applying BI, companies are able to objectively assess their own capabilities, identify their strengths and weaknesses and compare themselves against competitors. Due to the ability of BI to monitor and analyze markets, current trends and market conditions become easier to identify, allowing company executives to quickly adapt to changes.

3.     Performance Management 

BI is a powerful tool for performance management. With its ability to track, evaluate, and enhance data-based processes, BI software helps achieve data-driven goals faster and more efficiently by, for instance, automatically tracking sales processes or targeting delivery time. Additionally, with real-time data and visualization tools, such as dashboards or infographics, a BI system easily organizes important information for performance management and updates it on a regular basis, so that employees can handle occasionally occurring problems immediately.  

4.     Enhanced sales 

Salesforce can also reap benefits from BI. Using up-to-date BI reports, sales representatives can monitor the market and  identify sales trends and customer preferences , predicting trends and results. As a result, sales people get information as to where they perform best and what can be improved.

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