Business Intelligence is a concept that typically involves the delivery and integration of relevant and useful business information in an organization. As such, companies use business intelligence to detect significant events and identify/monitor business trends in order to adapt quickly to their changing environment or scenario. If you use effective business intelligence training in your organization, you can improve the decision making processes at all levels of management and improve your tactical and strategic management processes. Here are some of the top reasons for investing in a proper business intelligence system-
One of the main benefits of investing in business intelligence software and skilled personnel is the fact that it will boost your ability to analyze the current consumer buying trends. Once you understand what your consumers are buying, you can use this information to develop products that match the current consumption trends and consequently improve your profitability since you will be able to attract valuable customers.
If you want to improve your control over various important processes in your organization, you should consider investing in a good business intelligence system. Business intelligence software will improve the visibility of these processes and make it possible to identify any areas that need improvement. Moreover, if you currently have to skim through hundreds of pages in your detailed periodic reports to assess the performance of your organization’s processes, you can save time and improve productivity by having skilled intelligence analysts using the software.
A business intelligence system is an analytical tool that can give you the insight you need to make successful strategic plans for your organization. This is because such a system would be able to identify key trends and patterns in your organizations data and consequently make it easier for you to make important connections between different areas of your business that may otherwise seem unrelated. As such, a business intelligence system can help you understand the implications of various organizational processes better and enhance your ability to identify suitable opportunities for your organization, thus enabling you to plan for a successful future.
One of the most important reasons why you need to invest in an effective business intelligence system is because such a system can improve efficiency within your organization and, as a result, increase productivity. You can use business intelligence to share information across different departments in your organization. This will enable you to save time on reporting processes and analytics. This ease in information sharing is likely to reduce duplication of roles/duties within the organization and improve the accuracy and usefulness of the data generated by different departments. Furthermore, information sharing also saves time and improves productivity.
Which BI software to buy ?
Regular like ERP, CRM, SCM and others are good at collecting data or information about various aspects of business. However the input of transactions are done by a much lower level of professionals in the organization than the ones taking the purchase decision on these systems. It is the CXOs who decide on the purchase decisions and more often than not it is based on the outputs that these tools produce by way of reports. The richer in content and prettier the reports the bigger are chances of that tool becoming the one purchased.
Kautilya is a product which can give amazing visualization to the content. It enables the organization to save time by ensuring that the end users, especially senior members do not have to waste time in reading through mundane reports, rather they can get intuitive visualizations through which data can be seen very quickly and the outliners caught as and when they appear. This saves the time of the senior management thus saving their time and money for the company. Besides this, it works as a great enabler for quick decisions ensuring far lesser mistakes and if nothing else, at least fortifying decisions taken on intuition thus diminishing the chances of poor decisions.