Business intelligence (BI) is a tech driven way to examine data and present information that can be acted on to help an organization’s end users make educated business decisions.
To be successful in utilizing business intelligence, organizations have to strive to increase the accuracy, timeliness and amount of data. This entails looking for additional methods to capture information that isn’t already being used, scrutinizing the information for mistakes, and constructing the information in a way that makes broad analysis possible. A common obstacle many organizations face is that the data comes in unorganized or in ways that makes it difficult to collect and analysis.
Business Intelligence Benefits:
- Speeds up and improves decision making
- Facilitates organizational efficiency
- Creates new revenue channels
- Gain a competitive advantage over competitors
Using business intelligence will help your organization discover why things happened and how to improve your organization’s future performance. Business intelligence will help your company uncover data relationships you didn’t know existed and investigate new business channels.