Reasons Business Intelligence Is Vital To Business Success
Published by: Pritee Verma
In today’s customer-centric, digital-first world, many business owners and managers are bombarded with ‘information overload’ and are urgently seeking ways to derive greater control, understanding and intelligence from their organisation’s data.
One of the best solutions to this growing problem is to adopt a Business Intelligence (BI) strategy, but in reality, many companies have been slow to do so – due to a lack of knowledge of exactly what it involves, where to start, and how long it will take to see any benefit. The truth is: Business Intelligence should be an integral part of your operation.
Technology analyst Gartner describes Business Intelligence as including “the applications, infrastructure and tools, and best practices that enable access to and analysis of information to improve and optimize decisions and performance.”
So, in practical terms, how would Business Intelligence deliver benefits to an organisation is:
1. Helps in Smart Decision making
2. Help with realistic Sales targets and Marketing goals
3. Help deepen your Customer knowledge.
4. Helps understand and deliver an Outstanding Customer Experience
5. Power up Productivity by freeing up key and expensive resources so that they can focus of Business needs
6. Helps tighten up Data Accuracy and Compliance and maintain one source of truth.
7. Accelerate Return-on-Investment.