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The Importance Business Intelligence (BI) System In An Enterprise

Business Intelligence or in short (BI) is a very wide range of software, applications, technologies and systems all developed, setup and configured according to the company’s preferences in functionality to provide access to data and ultimately help enterprises make better business decisions in the future. Business Intelligence software includes the complete list of all the actions that are processed on the system(s), the reports modules which helps gather the information with the desired metrics and date ranges, the query and the advanced analytical system processing or also called the (OLAP), the forecasting module and the data mining engines.  All these work hand in hand in delivering the end user crucial information about the sector in company.

Business Intelligence also gives the institution the information required, when need it, in the right format. By integrating data from across enterprise and delivering self-service reporting and analysis, IT spends less time trying to find out who the client is they are dealing with, all the history of their problems or similar problems they had, all the people who worked on the project before, responding to requests and business users spend less time looking for information.  Ultimately all this translates to efficiency in support, which can be individual clients or companies and vendors that the enterprise is dealing with.  After all, when the information gets to a point that it is very difficult to manage, and the company has entered a stage where knowing the flaws in the business logic is a must, that is when Business Intelligence plays a vital role in getting things back on manageable level while accomplishing many complex tasks at the same time.

  1. Eliminate Guesswork From Company’s Decision Making Process – Running a business should not be like gambling or giving your best shot at guessing what is right and what is a wrong move for your company’s future growth.  By having Business Intelligence model integrated in your company’s infrastructure, your company can truly make informed choices with no guessing involved. (BI) additionally provides more accurate historical data, real-time updates, synchronization between departmental data, forecasting and even predicting (What If?) scenarios just in case it becomes a future possibility for your company’s decision making process.
  1. Get Faster Answers & Vital Information When Needed – The users of the (BI) can truly benefit from time efficiency.  By having all these technologies at their disposal, the end user can quickly and effectively retrieve, share and publish data in multiple places simultaneously.  This reduces phone client hold times,  more accurate case handling scenarios and less mistakes which cause overtime to correct. 

  2. Get Key Business Metrics Reports When & Where You Need Them – Today we can offer you great benefits with Business Intelligence software which will allow you to gain visibility into the most vital information and knowledge to be able to tap into the new opportunities of profits which your enterprise and existing client power holds. Your users can access key business metrics, reports and fully customized and configured dashboards on mobile platforms like IPhone, IPad, Droid or BlackBerry, giving sales and marketing  departments access to critical business information on the go.
  3. Get Insight Into Customer Behavior - One of the great benefits of business intelligence software is it allows companies to gain visibility into how the customers are behaving  in the most precise manner, gives the company "the ability to turn this knowledge into additional profit" and tap into the hidden power of existing clients, routine processes vital statistical data mining process which will eliminate all the guesswork from running an enterprise or a small business.

  4. Identify Cross-Selling & Up-Selling Opportunities - Business intelligence system allows companies to leverage customer data to be able to build effective campaigns about their products.  The BI also helps the company to be able to accurately target their products to the proper age group in order to maximize sales and make the product sale faster. They also utilize this data to be able to almost determine how their sales strategy will play out in the near future.  Without this technology, companies would not be able to sustain their stability and will eventually give in to the error factor.

  5. Learn How To Streamline Operations – With all the free flow of the good information, your company can have a detailed insight about the organizational operations, determine the performance of the company in addition to letting key people know where the important changes need to be made, in order to streamline operations even further without error.

  6. Improve Efficiency & R.O.I – A lot of small businesses, medium sized organizations and enterprises waste tremendous amount of time looking for the data from within their departmental data sources for various reasons.  However, if they manage to find the information, in most cases it needs to be converted and formatted to fit the proper medium format, in order to be recorded into another independent data source location.  This causes many duplications and headaches in addition to wasting time in general.  Therefore by utilizing Business Intelligence System, you can centralize your company’s vital information with the most secure methods available in the market today, and at the same time make it available to the proper people in your company.  This ultimately saves enormous amounts of time and will eliminate inefficiencies and errors.

  7. Learn What Your True Manufacturing Costs Are – Business Intelligence System can enable users on a management level to be able to precisely locate and utilize key data such as, manufacturing costs, exact timeframes to be able to adjust production quickly for higher profitability in a given market and future growth financial projections.

  8. Manage Inventory Better – As for the inventory management, the BI or the Business Intelligence System can notify your warehouse when to order products or inventory at the right time for your company, while completely eliminating the access amount of money spent on over ordering and bearing the cost of stocking excess inventory.

  9. See Where Your Business Has Been, Where It Is Now and Where It Is Going – Having in mind that companies go through a period of development before they hit their Plato in the given niche, some businesses at time deprive themselves from advancements due to lack of information, bad financial choices and most important of all disbelief in a non-physical form of power which is software.  The fine line between success of the company and the failure lies the ability to be informed with vital information at the right time or when needed in order to make educated decisions withoutguessing.Business Intelligence not only can help a company be more competitive in business but also capture unforeseen opportunities which raise from situations that can be tracked with BIS.
  10. See Where Your Business Has Been, Where It Is Now and Where It Is Going – Having in mind that companies go through a period of development before they hit their Plato in the given niche, some businesses at time deprive themselves from advancements due to lack of information, bad financial choices and most important of all disbelief in a non-physical form of power which is software.  The fine line between success of the company and the failure lies the ability to be informed with vital information at the right time or when needed in order to make educated decisions withoutguessing.Business Intelligence not only can help a company be more competitive in business but also capture unforeseen opportunities which raise from situations that can be tracked with BIS.

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