Business Intelligence (BI) Analytics: What Will It Bring?

As discussed in a previous article, business intelligence analytics combines both approaches to provide a comprehensive view of business performance and support strategic decision-making.

Why Is Business Intelligence Analytics Important?

Here are some examples of positive outcomes of BI project: 

⎯  A single point of truth: data loaded regularly in a controlled manner from multiple sources.

⎯  Consolidated data that helps to compare results, especially when coming from multiple business units.

⎯  Data that can be trusted by everyone (rather than "I only believe in statistics that I doctored myself" ― Winston S. Churchill :D).

⎯  Data that can be used by any other project.

⎯  Always fresh data, updated regularly.

⎯  KPI or other metrics that can be calculated regularly and in an automated way.

⎯  Data available every day at the same time.

⎯  Alerts when necessary.

⎯  Automated steps taken when KPI or metrics reach a set level.

What Are the Top Benefits of Business Intelligence Analytics?

Improved decision-making: By providing insights into business performance, trends, and opportunities, business intelligence analytics can help decision-makers make more informed and data-driven decisions.

Increased efficiency: Business intelligence analytics can help identify inefficiencies and bottlenecks in business processes, allowing companies to optimize their operations and improve efficiency.

Competitive advantage: With better insights into market trends, customer behavior, and competitor performance, companies can gain a competitive advantage and make strategic decisions that position them for long-term success.

Better customer service: By analyzing customer data, business intelligence analytics can help companies better understand their customers' needs and preferences, enabling them to deliver more personalized and effective service.

Cost savings: By identifying inefficiencies and streamlining processes, business intelligence analytics can help companies save money and improve their bottom line.

Conclusion:

Overall, a successful business intelligence analytics project can help a company become more agile, efficient, and profitable, while also providing the insights needed to make informed decisions that drive growth and success.

Authors:

Tomas Kavicky
Identification & Valuation Manager and a huge fan of Data Science, BI, MS Power Platform, and Six Sigma Principles,

Lukas Lani
Project Manager, technically based, open-thinking with strong analytical skills. 

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Interested in learning more about how our team can support your business intelligence needs? Reach out to us to schedule a consultation.