Do businesses really need BI solutions to be successful?

Yes, every business requires BI solution to survive.

Whether you are a small, medium or large enterprise, your company is facing a competition on a global scale. Only information makes your company more agile and provides you the insights you need to succeed. Nowadays you can hear the words BI, business intelligence or big data are used around business community very often only because the effectiveness of an intelligence solution to a business is very critical for its success.

In simple words, your business needs to be innovative. If not, it will be extinct sooner or late because your competitor is embracing this innovation and thereby gaining that edge over you. And innovation only comes after a thorough analysis of all your existing business data.

Why do you need a BI solution to be successful? 

  • To acquire manageable information and reduce your reaction time to market changes. Reduced reaction times to changes saves a lot of money.
  • To conduct your business intelligently. Bring business critical information to decision makers in real-time.
  • Avoid trial and error method in business with accurate intelligence data. This saves time and allows you to achieve your business goals faster.
  • Measure, manage and monitor your key performance indicators for your business.
  • Integrate various business data sources to generate a meaningful information.
  • Gain deeper insights on all your business functions/departments and their performance.
  • Marketing and sales intelligence will gain you actionable insights to increase your sales.
  • You can gain insight over your customer behavior or website visitor behavior to analyze their buying trend
  • Avoid all the outdated data gathering methods which consumes lot of your time and resources.
  • On the whole, reduce all your overheads and increase you ROI.

If you already have a business intelligence solution you need to analyze yourself and if you can relate your company to any of the following business pain points, you need a BI solution provider

  • Facing a huge gap between what you need and what you get from your current business intelligence solution
  • Dealing with BI solutions is taking a big chunk out of your IT budget
  • Trying to leverage the latest advancements in business intelligence to your company’s benefit
  • Still using legacy business intelligence tools

The key to unlock your company’s true potential is already within the data your company possess. All you have to do is implement the best in class business intelligence solution that can extract actionable insights and predict future events from all your data sources.

Tags: Business Intelligence, Microsoft BI
previous post: Agile Software Development – Is It Even Good? next post: Advantages Of Using Dynamics CRM For A Nonprofit Organization