As technology advances more rapidly by the year, businesses have been forced to invest in data processing software that can handle the sheer volume and complexity of data acquired on an annual basis. Enter business intelligence software, a set of tools and software that allows businesses to process and organize data from all across their organization into an interactive, visual dashboard.
With the ability connect all devices and departments of an organization, BI technology will soon become your business’s one stop shop for information and decision making. It will assist in everything from agile government contracting to reducing the need for multiple software applications. Here’s just five benefits of incorporating BI software into your organization.
By its very design, BI software was intended to improve reporting by automating data collection and organizing it for storytelling. This not only increases precision and efficiency from a reporting perspective, but that added visibility can uncover problem areas of your organization that can be optimized for efficiency.
Beyond this, not only do you have access to more data, but also better data for more informed decision making.
BI software connects all data ports and devices into a centralized network, where business leaders can gain access to the performance of different areas in their organization. This can be everything from marketing KPIs to the profit margin of specific products and services.
Think of BI software as a data ecosystem where all organizational data lives and breathes and can be accessed by any member of an organization.
One of the biggest areas hindering business growth at scale, remains company silos. By sharing data across a centralized platform HR representatives can improve their onboarding process with CRM data from the marketing department. Sales representative can pull this data to assist in personalized pitches and product management departments can incorporate this feedback into quality control testing and product updates.
Better Decision Making
With increased data visibility and quality of data naturally comes more informed decision making. With greater information about what marketing campaigns lead to success and what operational inefficiencies are driving up costs, you can refine to improve your profitability.
Easy to Use
Finally, most BI applications are rather easy-to-use by design. By simplifying the way we look at data and automate data collection tasks, it improves efficiency and lowers the learning curve required to master data management at your organization.