What is Business Intelligence?
Business Intelligence is, without a doubt, one of the most popular words in the current business landscape. The new BI models are easier to use, have very simple interfaces and can be understood even if they do not have technological knowledge. A great example of using data to improve business is Google Analytics
Why is business intelligence important
Given the great accessibility that BI programs have today, the question that needs to be asked is: Do I really need a business intelligence system in my company? Below we will mention some of the benefits of bussiness intelligence for the company.
It is very common for a company’s strategy to rely to a certain extent on theories. Despite being based on trends or experiences, are no less than pretending to guess the future in a way that is somewhat illusory. The BI software helps eliminate that dark area as much as possible, since it does not contribute based on opinions or beliefs. It simply offers objective data, in what is one of the main benefits of Business Intelligence.
Better understand your business
Another great incentive to implement a BI tool is that you can get immediate answers to your business questions. You can make decisions without having to review a lot of pages of reports and waste your time.
With BI programs, any member of your organization can have access to your company’s data, for example to your business metrics, dashboards and other important reports. All you need is a connection to your data and you can access the entire operation of your organization.
Increase your sales
BI platforms allow you to use customer data to improve your traditional sales models. It also helps your sales staff implement cross-selling and up-selling techniques at the most appropriate points of sale. The BI allows to find and analyze the buying habits of consumers. This information is very useful to the point that it translates into profitability for the company. In addition, it is possible to make loyalty campaigns more efficient, build predictive models to facilitate cross-selling, carry out promotions and other strategies.
Have more control over your company
You can have a better control over the functional areas of the company. A business intelligence system can cover areas such as production, inventory, marketing, shopping, after-sales service, since all of them use data. The field of information to obtain and analyze is very vast. The fact of having it centralized to cross it, analyze it and make decisions is a great benefit in costs and time.
What is Business Intelligence and how to use it
In conclusion, the possibilities for the use of Business Intelligence and Analytics are increasing and vary according to the situation of each company and the time of each market. The fact is: the future of data analysis arrived and the opportunities were not stopped waiting for us. For IT leaders, the imperative is to advance not only internal efficiencies, but also the establishment. This will make it possible to generate additional value for the business based on data and information.
CONTACT US to learn more about implementing BI into your business