Business Intelligence emerged in the 80’s with the purpose of supporting the decision-making elements of organizations. It is a set of methods that allow you to organize, compile, analyze and provide consistent data. It is a very important aid for managers to make more assertive decisions both in the strategic and operational areas, with competitive advantages for their organizations.
Before the appearance and consolidation of Business Intelligence, the systems made available in companies were not designed to organize and generate strategic information. Data was typically stored in multiple databases, often without a link between them. Decisions were based on the experience of company administrators, something that is rare nowadays.
Information technologies and their evolution were crucial for the application of Business Intelligence in business organizations. Companies to become more competitive in the market have been acquiring solutions based on this criterion.
BI gathers a series of important data that help in business management in several areas and its main objective is classification, interpretation and analysis of the collected contents to identify opportunities and risks.
The business intelligence is great ally for success in the corporate world, it creates an environment where business owners find it easier to find efficient solutions.
1 – Optimization of information management
Business Intelligence manages and optimizes the information obtained to work more assertively in strategic planning.
The constant evolutions and upgrades in the technology contribute positively for managers to achieve better results and greater profitability for companies.
2 – Improved employee productivity
BI solutions help to analyze the performance of employees and work on improvements in internal routines.
From the data obtained on the performance of employees, it is possible to reinforce points and offer new courses or specialized training that improve the team’s performance and avoid new mistakes.
3 – Detailed control of expenses
Cost reduction is something that practically 100% of companies are looking for and a management with Business Intelligence allows a very broad view of all expenses.
The calculation of these expenses is essential for a business to maintain the capacity to overcome crises and make strategic investments without losing profitability.
4 – Business competitiveness
When a company has a more accurate look at all its processes, it becomes more prepared to define more efficient solutions and prepares itself to be ahead of its competitors.
Among other advantages, a well-crafted Business Intelligence companies in India allows for more powerful insights and much more competitiveness for everyone.
5 – Perfecting weaknesses
BI is able to identify and correct weak points or even possible failures through the extraction and filtering of information, with it is possible to point out the data that can originate mistakes or generate problems, so that they can be worked on and improved.
How to adopt Business Intelligence in your business?
To implement a strategy Business Intelligence that is efficient, it is necessary to set goals of medium and long term, and KPIs to assess the performance of each sector.
In this way, all managers involved become better able to determine the performance and the results obtained on the chosen decisions.
Now that you know some of the advantages of this powerful business intelligence tool, it’s up to you to test this technology in your business.