Business intelligence (BI) is a tool that allows you to make better decisions for your day-to-day operations. It has lots of useful features which include reporting, analysing, forecasting and dashboards.
Reporting: Understanding Trends and Identifying Opportunities
Business owners need to make quick and informed decisions, and BI reporting empowers them to do so.
This feature works by consolidating all necessary data into a single report based on key business measurements and dimensions. It then allows you to examine the generated data to understand trends and identify opportunities.
Business Intelligence reporting tools also help in transforming multiple offline reports into a unified, easy to access dataset across the organisation. Not only will this remove inconsistencies and human error, but it will also strengthen team collaboration.
The other benefits of using BI reporting include cost and operational optimization, customer analysis, behavioural prediction and faster workflow.
Analysing: Making Sense of Data
The use of BI requires proactive involvement. While business intelligence provides easy-to-understand reports, you still must analyse them so you can make sense of the data. By using this BI feature, you can analyse trends and insights faster.
Dashboards: Simplifying Complex Data Sets
The dashboard is a standard business intelligence tool that many consider a key feature. It processes and organises complex data sets into readable charts and graphs, providing a quick and simplified visual representation of the state of your company’s performance. It also provides real-time data that keeps you updated with essential business information.
Recommendations
There are various tools in the marketplace that will allow you to analyse data to help with making informed decisions. We have worked with many BI tools to assist small and medium-sized businesses and will introduce you to our favoured solutions over the coming months.
Conclusion
Automation is advancing at breakneck speed. Companies, both large and small, are leveraging the intelligence of technology to gather and analyse data. Business intelligence software is being used for reporting, analysing and providing dashboards, to ensure that businesses are able to keep up in a rapidly changing world.
Let Us Help
If your business has a turnover of over $1 million, ABJ Solutions is offering a complimentary one-hour meeting to help answer questions and model critical decisions with you. Get in touch with us today so that we can help guide you through these challenging times.
