Ever wondered what business intelligence benefits your company could gain?
Here is a list of 5 proven and easily attainable business intelligence benefits that can set your company on the path to success.
One of the first business intelligence benefits that springs to mind is its flexibility. Business Intelligence systems can and have been used across many industries making it open to almost any business. Business intelligence has been a success in industries such as; financial, manufacturing, retail, food and drink production and wholesale as Matillions own Cloud BI platform has proved.
Reports on the Move
Another of the key business intelligence benefits companies can gain is the ability to create reports on the move. Mobile BI and cloud BI allow users to access their data and create reports anywhere at any time. A recent survey reviewed on FreshBusinessThinking asked 500 people their views on Mobile Business Intelligence. One key finding from the survey was that 42% of people asked said that being able to create reports on the go was the most important aspect of their Business Intelligence.
Improved Decision Making
One of the primary business intelligence benefits is the ability to improve decision making. Business Intelligence improves decision making by allowing users to make better and faster decisions. Real time data allows the user to access the latest trends and patterns in data which helps the user to make a more informed decision.
One of the many business intelligence benefits is the ability to gain greater insights than a traditional database. Business intelligence allows the user to delve deeper into the data provided whether it is:
- Consumer individual preferences
- The effect of a particular marketing campaign on sales
- Insights into the future with predictive analytics
- and many more
Cost Effective Options
One of the business intelligence benefits that may interest the final decision maker most is that there are cost effective options. If Business Intelligence costs too much than it become counterproductive, businesses are there to make money so business intelligence must increase the profitability of a company and show ROI. If the costs are too high than the system becomes counterproductive. Cloud BI solutions are a cost effective option that can have a dramatic increase on profitability, this is because cloud business intelligence systems are usually cheaper to implement than traditional business intelligence solutions because of the reduction is start up costs involved in the implementation.
Find out more about business intelligence benefits by downloading our Free E-Book: Evaluating and Implementing Business Intelligence below.