5 reasons to start using Business Intelligence

Business Intelligence, or BI, is the field in which software provides insight into large sets of data. It’s a discipline on the rise and is gaining momentum because it’s an accessible way of accessing and using all that data you have gathered over the years about your business, your projects, your people and whatever else you can think of. In a world with that much data available, it’s an ordeal to find, organise and visually present the data; there’s a lot of static. Business Intelligence helps filter out this static and show you the relevant data at the right moment.

 

Below you’ll find 5 reasons to consider to start using Business Intelligence:

"Business Intelligence helps filter out static and show you the relevant data at the right moment"

1. It keeps all your information in one place.

Do you save your operational data in different places, with separate spreadsheets and applications? If so, it’s likely costing you hours of your time to find all the right data and to organise and analyse it. Thankfully, Business Intelligence solutions allow you to connect multiple data sources. This converges all your different spreadsheets and tables in a single piece of software and saves you from having to remember what information goes where.

2. It helps you make better business decisions

Connecting multiple data sources also makes combining data easier. And you can use this recombined data to gain new insights. About your most or least successful products, about the number of orders or signups per day, or per geographical location, about materials used in, or people working on a single project.

 

Whatever you would like to know to make a well-considered business decision: with business intelligence, the sky is the limit. That way you’ll go to battle well equipped to lead your company to new, commercial heights! Given, that sounds a bit over-the-top but if you start using a BI-solution, you’ll at least know you’ll never miss an important insight ever again!

3. It gives you quick and accurate reports

Insights used to make decisions that affect the future are important, but reports to assess what happened in the past are just as important! In fact, they usually go hand-in-hand. Coincidentally, Business Intelligence software is very good at generating quick and accurate reports. You can make preconfigured, periodical reports (daily, weekly, monthly… etc.) or generate ad-hoc reports. With this, Business Intelligence offers excellent capabilities for fast and consistent overviews of data.

"Business Intelligence offers excellent capabilities for fast and consistent overviews of data"

4. It visualises data for fast interpretation

Though for example Excel does offer the possibilities of presenting your entered data in e.g. a pie chart or graph format, that’s not ideal and requires a few extra steps that not everyone may be familiar with. Business Intelligence software takes on this job and presents you the data you request on a well-arranged silver platter. This way, you don’t have to worry about the clarity and readability of your information and you’ll be able to spend your time analysing the data instead.

5. It is cost-effective

Business Intelligence used to be the playground of big companies with a lot of staff and large data warehouses. This has changed considerably over the past years. Nowadays, Business Intelligence software is often provided as a SaaS-solution and uses subscription models. Generally, there are several types of licenses; for those self-employed and for SMBs, individual licenses are usually the best solution. Bigger companies and enterprises -who often have a lot of users- often have to request a quote. Individual licenses for using Business Intelligence software generally cost somewhere between €10 and €20 per month per user. Spending this money saves you a ton of hours working out details, helps you make important decisions and improves your workflow.

Conclusion: Business Intelligence makes for an efficient, agile organisation

If you add up the above points, the conclusion’s that Business Intelligence is a sold investment for your company, no matter the industry you’re in. There isn’t a company in the world that does not work with spreadsheets and databases. If you can connect those data sources and derive trends and other relevant insights & reports from this, you’ll always be ready for the future!

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