The 6 benefits of business intelligence

What are the concrete advantages of business intelligence? Does it facilitate behavior and therefore decision-making? Six elements of answer with this post.

1.  Putting the data in order

While the amount of information available to organizations is now growing exponentially, BI streamlines this incessant flow of information by “transforming this raw data into actionable information”. To achieve this, it will thus cross-reference data that already exists in the company within different tools, such as an ERP, CRM, commercial data, accounting…

Thanks to it, data is no longer dispersed but centralized locally or in the cloud. All the actors of the company thus have a common reference framework, always up to date, thus improving the coherence and management of the company.

2.  Provide effective data visualization

Our relationship with information is essentially visual. Data visualization, also called “data viz or datavisualization”, therefore plays a decisive role since the end user will be able to read the information it receives. The tools of business intelligence services thus represent this data in a visually understandable form.

We like the analogy with the dashboard of a car, whose role is to interpret the computer data sent by the different elements of the vehicle and to represent them in a way that is understandable to the driver. Effective visualization must therefore distinguish between relevant and non-use data. Modern tools offer displays in the form of graphs whose conclusions are quickly interpretable.

3.  Derailing the company’s services

Setting up a more participatory organization is often at the heart of a company’s objectives. It is true that until a few years ago, business intelligence often affected a handful of decision-makers (general management, IT services, etc.). But today, modern BI tools mark a new stage in the democratization of data exploitation and exploration.

The user thus has the opportunity to share his analyses through collaborative workspaces: shared dashboards, chat, real-time notifications, etc. A more transversal operation that makes it possible to “break the silos”, and which becomes conducive to horizontal communication and dialogue between the different departments of the company.

4.  Improve predictability

All companies would like to be able to anticipate the future. Both to tackle new markets, but also to anticipate future obstacles or anticipate rebounds. Business Intelligence allows organizations to have a precise vision, both on their own internal environment and of the market around them. It offers a direct visualization of possible anomalies (retreat in certain sales, poor inventory management, quality of customers and suppliers), and gives the company the means to apply the necessary corrections or identify new market trends, etc. More about specialists and tools is available here.

5.  Free up time

Automated reports provided in real time by BI tools de facto remove the tedious tasks that were previously assumed by company employees. For the latter, ROI (return on investment) is fast because they can remobilize their payroll on higher value-added missions, such as data analysis.

Reporting is indeed known to be particularly time-consuming tasks, and also tedious. However, by freeing themselves from these daunting missions, employees will be better able to devote themselves to strategic projects based on indicators that will stimulate the growth of their organization.

6.  Offer a common reference tool

Speaking the same language within an organization is a necessity if you want to go in the same direction… or simply understand each other! This is the whole issue of BI, whose common vocabulary is finally adopted by all employees: general management, finance, human resources, marketing, CIO, etc.

Standardization of data avoids misunderstandings and misunderstandings within teams. We have the very characteristic example of customers who systematically gave a different turnover when asked how much it was. Hence this imperative need to understand each other around a common reference framework.

In conclusion, we can see that over the past ten years, the adoption of decision-making intelligence solutions has made a giant difference. Data visualization has made data management accessible at all levels of the company, but this is not the only reason for this massive progress. Software as a Service Development (SaaS), also allows organizations to adopt faster and more ergonomically.

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