Much of the UK is still at risk of data floods as the BIS office (Department for Business, Innovation and Skills) forecast heavy datafall for much of the UK.
There are currently hundreds of data flood warnings in England, Scotland and Wales, where data flooding is expected and urgent action is required through Business Intelligence systems.
The industries on high alert include manufacturing, retail, financial, construction, healthcare and hospitality.
Data flooding faster than you can process or analyse? Experts are advising business users to implement a Business Intelligence system in order to stay safe from drowning in data.
Authorities have put together these four key benefits to urge businesses to get Business Intelligence systems for their own safety.
1. Smarter and faster decisions
All Business Intelligence systems enable companies to make their decisions not only faster but also smarter. By giving the user access to the latest patterns and trends in the data, the systems allow the user to make better informed decisions without the long process of finding trends manually.
2. The Cloud
The latest innovation in Business Intelligence systems is the Cloud. Traditionally BI vendors were always in-house systems, but the Cloud has changed that. Cloud-based Business Intelligence allows data to be accessed, drilled down, analysed and reported on from anywhere at any time simply by the user accessing a web browser. Not only do Cloud Business Intelligence systems allow you to access your data anywhere, they also allow you to access data from any of your sites, be they on the other side of the country or even the world.
Business Intelligence systems offer flexibility in two ways. Firstly Business Intelligence systems are flexible across industries. Indeed, Matillion’s own Cloud Business Intelligence has proved this to be the case with customers in industries such as food, clothing, lighting, toys, pharma, packaging, cosmetics, aerospace and more in manufacturing, wholesale, financial and retail. The second way Business Intelligence systems are flexible is in terms of location. As established above, Cloud BI allows users to log in anytime, anywhere, with data coming from numerous sites across the country or even globe.
4. Improved efficiency
Another benefit that Business Intelligence systems have is the ability to improve efficiency. One half of this is improving the speed of decisions, as discussed earlier, the other half is about costs. One area where costs are cut is through reduced man hours, a reduction which occurs in two ways. First, man hours are reduced due to the improved speed decisions at which are made; second, making better and smarter decisions means mistakes are reduced so less time is spent correcting errors. Efficiency is improved further with Cloud-based Business Intelligence systems due to costs being lower than traditional BI platforms.