Some perks of using Business Intelligence:
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.