Is the necessity of intelligence in a business being overrated, regardless of its size and industry?

The answer is simple. BIG NO.

From a small fruit vendor to multinational manufactures, every business applies intelligence in their process to survive. Both the parties analyze their past record and current scenario to foretell the right amount of sales they could make in the near future.

  • The fruit vendor will consider the season, demand, supply and his past record of sales to arrive at optimal amount of investment to stock up the fruits to make a profit.
  • Likewise, the multinational manufacture will consider all the factors before arriving at an optimal investment figure to maximize their profit.

These companies are completely different from each other yet they both need business intelligence to thrive.

There are many number of factors responsible for the success of a business and throwing in a Business Intelligence application into that pool will only double the probability of the success.

We have already seen why businesses need BI solution to thrive in current market scenario in our previous post.

So let’s have a look at an example of what Business Intelligence could really offer a manufacturing company. What are all the advantages the company will achieve? Let’s name the imaginary manufacturing company as “Company-Ex

“Company-Ex” Profile

The Company-Ex is a leading manufacturer of consumer products in a particular country. They sell their products through different agencies in different states all over the country.

“Company-Ex” situations

  • Company-Ex does not have a clear BI solution to analyze its sales.
  • Company-Ex do not know where to reduce their spending and where to invest more to increase their profit.
  • Though the Company-Ex makes profits, they do not have a clear picture of the factors responsible for their success. They lack in identifying their key performance indicators.

What can a Business Intelligence solution offer them?

  • With a BI solution, Company-Ex can collect all their unstructured and structured data from any source and make them into useful information.
  • After converting the data into information, BI offers deep business insights on the Company-Ex current business situation with eye-catching visualizations.
  • Company-Ex can identify their KPIs after thorough analysis of their data and monitor 24/7 for any huge variations.
  • Company-Ex can see the sales value for every agency throughout their country and identify the best / poor performing agencies.
  • Through their sales record, Company-Ex can anticipate the sales value of any agency or state or particular market in near future.
  • Company-Ex can also forecast their inventory demand with the help of predictive analytics
  • The critical business insights achieved by Company-Ex also includes product wise sales reports, identifying their best sellers in each markets.

The BI solution implemented in the Company-Ex can only be effective if the BI partner involved is highly skilled. The BI partner studies the business situation, process involved, different data sources involved etc and offers a BI solutions that produces accurate critical insights on business.

Tags: Business Intelligence, Microsoft BI
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