A Few of the Many Benefits of Business Intelligence Systems
The right business intelligence system could be just the ticket for you, and as they say, if you do not buy a ticket you will not win the raffle.
Do you need faster and easier access to your data? Could your decision making processes be improved upon? Is productivity in certain departments a problem in your business? If the answer to any of these questions are yes then a search for suitable business intelligence systems should already be underway.
A main and commonly commented on advantage that business intelligence systems can offer is the ability to access your data faster and easier. Fast and easy access to data can be crucial for several reasons as detailed below:
- The faster and easier access to the data and information allows better decisions to be made sooner rather than later. This in its self can be seen as a key advantage of business intelligence systems
- More informed decisions can be made due to the better access to data and information and helps improve efficiency levels of individual teams and employees who have access to business intelligence systems
- Time equals money. The increased speed of reporting can save several man hours in areas such as report building and rebate analysing that can be better spent elsewhere, improving productivity
A further advantage that business intelligence systems offers is the flexibility available to users in a number of different industries. The same system that is successful for a wholesaler can be successful in the manufacturing or finance industry.
Richard Francis discusses this in Business2Community and how business intelligence systems benefit wholesalers. “Very few wholesale businesses have gone the step further and implemented a business intelligence tool… By taking this extra step, businesses can access the details that will help them to realize efficiency in their processes, and avoid the pitfalls that currently remain unseen in their daily operations.” By taking the extra step and using business intelligence systems, wholesalers give themselves the best chance at getting an advantage over their competitors.
Additionally different departments can exploit different areas of business intelligence systems. The flexibility available can be scaled down to work departmentally by using different modules within a system – For example; Finance, Sales, Inventory and Production – thus allowing companies to be more cost effective by purchasing specific modules that work for them rather than being forced to choose between the whole package or no package at all.