BI software painlessly aggregates complex data from your different company information sources, and condenses it into easy-to-read reports and tools for analysis. The collected data may focus on a specific area of your business, such as sales activity, or provide a high-level view of your key performance indicators (KPI’s).
A properly implemented business intelligence solution can help an organization readily identify opportunities so they can quickly take advantage of them, or spot problems that require prompt action before they become more serious.
Expand the sections below to learn more about what BI software can do for you:
- Once you identify what your Key Performance Indicators (KPIs) are, you can set up reports to quickly receive your information, rather than spending hours searching through volumes of data from disparate sources.
- Today, BI software allows decision makers to get the vital information they need on mobile devices, anywhere and anytime they need it. This provides sales & marketing, business development, and financial and accounting professionals an edge so they have access to critical data from their phones and tablets.
- Business decision makers no longer have to rely on their “gut instincts” with a BI solution, which provides reliable and factual information they can use to make company strategies. BI provides more accurate historical and timely updates about the organizations performance.
- Leverage data to develop and refine predictive models that help to up-sell and cross-sell products and services to the right customers. This helps to increase revenue and profits.
- No longer waste precious time hunting through reams of data from different department sources. When you use business intelligence software, your information is centralized and can be viewed from a dashboard or created into a report, saving hours of time and resources.
- With information at your fingertips, you will be able to eliminate extra steps your company processes are taking, and make other improvements.
- When you are able to easily see information on each customer, and all of your customers, you can see what products and services they are purchasing. You will be able to see and anticipate future trends in the marketplace.
- The information that BI provides shows you what has happened to your company and its performance in the past, and over defined periods of time. This enables you to make quick comparisons. Easily see how much of your products and services were sold, when, where, to which customers, and how much revenue was brought in compared with cost and profit. This will help company leaders steer the company to success.
- Readily view all the costs that go into producing your products and services, and then continual to make adjustments to increase your bottom line.
- When you have better insight into customer purchasing behavior, you will be able to keep more accurate inventory levels, saving cash flow and warehouse space.