Monday, 5 January 2015

Business Decisions made using Business Intelligence Reaps Predictable Results




Business Intelligence referred to as a decision support system or business analytics, works with Customer Relationship Management system to provide business insights that help managers to understand their business. Business Intelligence solutions work in a way to convert raw business data into useful insights. And this information can be shared among the team to aid in making better decisions for successful business outcome.

BI implementation is a process indeed, similar to any software installation like CRM deployment or ERP implementation, the BI software too needs a planned strategy for implementation to successfully achieve business objectives. Analyzing your business requirements with a BI consultant is initial step, followed by assessing technology requirements and a successful implementation strategy that fulfills the business goals.

The success of an organization depends on senior-level management team’s ability to make timely decisions that are accurate as well. Business decisions are quite an art that often comes with experience for business executives. However, these decisions are made without the backing of the organization’s business data, and leads to probability for missing out on making precise decisions.

Intuitive decisions are true; when it is supported with fact-based data it becomes more relevant and leads to a successful outcome. The examples of businesses that have made an impact using BI Analytics through extensive historic data analysis is a lot.

Microsoft Excel is a great platform to store data and it acts as a stop-gap measure to fill the role of BI. Excel faces data integrity issues which is a concern for business professionals who seek for trusted information. In present scenario, businesses require a way to move from ordinary spreadsheets to a more sophisticated strategic solution that enables easier access and provides trustful insights. Automated solutions like easy BI analytics becomes the obvious choice of business professionals who prefer to spend their amount of time in data analysis rather than in collecting and compiling volumes of data.

  

No comments:

Post a comment