Benefits Of Having Business Intelligence tools

The one known as Business Intelligence or Business Intelligence aims to help and facilitate decision-making by those responsible for companies. And it is that, in the over-informed world, in which we live, where we have infinite access to data, it is tremendously difficult to obtain quality information and draw conclusions.

All areas under control

Many people think that Business Intelligence tools are only useful for CEOs of companies. In the end, they are the ones who have to make the most important decisions. However, Business Intelligence can provide us with specific dashboards and reports on each and every one of the areas of our organization. From accounting to logistics, through marketing and sales.

In this way, the information can be shared in real-time among the different members of the company, facilitating decision-making by the area managers.

Excel vs Business Intelligence

Despite the advantages that Business Intelligence brings, the vast majority of companies continue to rely on their traditional systems. Thus, only one in four SMEs has a BI solution, while 54% continue to use Microsoft Excel exclusively for the preparation of their financial reports.

However, spreadsheets don’t always help you make operational decisions. That is to say, we can introduce a large amount of data, but when it comes to extracting that information, the problem or problems arise:

• It takes a lot of time and a lot of resources
• Does not update in real-time
• We can make mistakes when entering manual data
• Visually unattractive

Benefits of Business Intelligence

Due to the introduction of ERPs in companies, managers, and heads of departments increasingly have more information to analyze: accounting, customer and opportunity management, supplier data …

As we said, Business Intelligence tools are a perfect solution for both SMEs and large companies that want to make correct decisions based on data and information in real-time. What does Business Intelligence offer us?

1. Right data at the right time

Business Intelligence allows having all the data of the company structured and above all centralized. As a consequence, agility when making decisions is increased and the vision of the business is broadened.

This avoids making decisions based on assumptions, intuitions, or speculation. With BI, decisions are made based on concrete and real data.

2. Custom reports

It allows adapting the Business Intelligence reports to the needs of each of the company departments. With this, those responsible for the different areas will have updated information in real-time on the data that really interests them.

3. Attractive dashboards

Create your own dashboards, with your key indicators and your filters. Also, do it in a matter of minutes, however, you want and with the data you want.

One of the great advantages of Business Intelligence is that most of the tools provide very visual dashboards that are very easy to interpret.

4. Collaboration

Custom reports facilitate communication, allowing you to share information with the rest of the company. Each department has the data it needs and, at the same time, the management team can have access to all of them.

5. Time-saving

Inefficiency is one of the great problems of not having a Business Intelligence tool. In fact, users can spend a lot of time searching for information and, if found, it may be out of date.

Sage Enterprise Intelligence

In short, the implementation of Business Intelligence or Business Intelligence systems is a commitment to the centralization of data and to clear and precise information.

Also Read: What is Business Intelligence & Cloud Computing