How Are Companies Using Business Intelligence to Improve Business Performance?

Business Intelligence, the combination of data collection and process improvement, is steadily changing the way businesses, both small and large, operate on a daily basis.  A business intelligence solution  provides cutting-edge information that supports excellence in decision making and process improvement.  Development of Business Intelligence industry as a whole has allowed organizations to use technology to improve performance in many ways.

With the proper data mining, a business intelligence solution can assist specific areas such as Human Resources, Marketing, Finance, Sales and Manufacturing operations by collecting data that impacts performance and profitability.  Once your key players have the proper information, decisions that support business growth are more easily made.  While on the face of it, it would appear that Business Intelligence would segment businesses into their component parts, that is simply not true.  In fact, a Business Intelligence solution actually helps businesses perform in a more cohesive manner.  Customers, employees, finance, and the supply chain can see more easily exactly how decisions effect the organization as a whole.  Once this is understood, your business can operate at a higher level, making decisions that support the growth of the business as a whole.

Another way that Businesses Intelligence allows businesses to perform more efficiently is by gathering  real-time or near real-time data.  These types of reports can allow employees to effectively respond to challenges and opportunities.  If your employees don’t have the ability to see exactly what is causing changes in the sales cycle or interruptions in logistics or manufacturing, it will hurt your bottom line.  Businesses Intelligence can make your business more nimble and allow you to reduce your costs, slowing down  or increasing production and manufacturing in response to sales and market conditions, while protecting your bottom line.

Finally, Business Intelligence has created better performance for customers, including Customer Service Departments and Sales.  Your customers can use a data portal to review their recent transactions.  This reduces the amount of time customer service representatives need to spend culling through data.  Especially helpful in the medical and insurance industries, Business Intelligence can decrease the size and overhead costs of customer service departments.  Sales departments as well can be effected positively by Business Intelligence.  Giving customers the opportunity to purchase products and supplies in an automated environment reduces man hours and increases the predictive ability of logistics and supply chain employees.  Real-time and near real-time sales data helps companies to get the product they need, in the place they need it, in a more timely manner.

A Business Intelligence solution gives your organization a real way to stay competitive in today’s constantly changing economic and business environment.  Giving businesses the real-time data and information they need to quickly adjust their direction allows businesses a better opportunity to not only stay viable, but to perform beautifully in today’s economy.  Areas such as integrating data across the company, increased customer service, real-time data collection, and data portals are just a few ways that a Business Intelligence solution increases performance for organizations today.  Business Intelligence software gives organizations a way to be more effective and to adjust to the competition on a daily basis, allowing your employees to work more effectively on the things that really make a difference to your bottom line.