Are you currently battling with multiple systems data when you try make sense of your business? Are you using reports from different systems? Is it a hugely manual task to get all this info into one report or dashboard? If you see any irregularities in your dashboards are you able to drill down to find the root cause of the issue?
Can you imagine having all your organisations data in one place and being able to see all this data in one reporting system?
Can you Imagine seeing multiple data sources all reflecting in one dashboard report?
Can you imagine being able to drill down into this data with the click of a mouse? Can you imagine filtering your report by whatever you want to by clicking on your dashboard?
Imagine being able to view this information on any device, including mobile phones.
Now this is a reality.
With BI, you can pull multiple different datasets from different systems into one reporting system. You can build dashboards reflecting KPI’s from multiple systems in one report. You can drill down into your graphs by clicking on them, or filtering the entire dashboard by clicking on one branch or product to see that specific branch or products performance.
Imagine running your meetings with this kind of information at your fingertips. Can you imagine the informed decisions that could be made real time in those meetings?
If this sounds good to you, please give us a shout we would love to come and give you a live demo of what the possibilities are with using BI.
Okay, let’s take a step back. What is BI????
Business intelligence usually refers to computer software and other tools that collect all sorts of complex business data for a company and condense it into reports. The collected data may focus on a specific department, or give an overall view of the company's status. Large corporations with huge amounts of data to process are most likely to benefit significantly from business intelligence, though smaller concerns use it, as well.
Business intelligence may help a company identify its most profitable customers, trouble spots within its organization, or its return on investment for certain products. Although a companywide business intelligence system is complex, costly and time-consuming to establish, when implemented and used correctly, its benefits can be significant.
Having BI will assist your company in the following ways
Once a company-wide business intelligence system is in place, management can see detailed, current data on all aspects of the business -- financial data, production data, customer data. They can read reports that synthesize this information in pre-determined ways, such as current return on investment reports for individual products or product lines. This information helps management make fact-based decisions, such as which products to concentrate on and which ones to discontinue.
A business intelligence system can be a valuable asset to a company's sales force because it provides access to up-to-the-minute reports that identify sales trends, product improvements or additions, current customer preferences and unexplored markets. Detailed and current data is also a valuable backup to negotiations with suppliers or other vendors.
A business intelligence system can point out areas of waste or loss that may have previously gone unnoticed in a large organization. Since a companywide business intelligence system works as a single, unified whole, it can analyse transactions between subsidiaries and departments to identify areas of overlap or inefficiency. According to the CIO website, in 2000 "with the help of [business intelligence] tools, Toyota realized it had been double-paying its shippers to the tune of $812,000."
Business intelligence can help a company assess its own capabilities; compare its relative strengths and weaknesses against its competitors; identify trends and market conditions; and respond quickly to change -- all to gain a competitive advantage, according to the Journal of Theoretical and Applied Information Technology. It helps decision makers act swiftly and correctly in response to opportunities; helps the company identify its most profitable customers, as well as potentially profitable customers; and assess the reasons for customer dissatisfaction before it begins to cost them sales.