Why is business intelligence so important?

How important should business intelligence be to your business?

In today’s business environment, where data is king, good Business Intelligence should be at the heart of every company. As an enabling technology, Business Intelligence is all about providing the right information in the right context to the right person at the right time, which in turn, gives organisations the insight they need to achieve real business agility. Through increased visibility of your financial prospects, you can not only better understand the implications of an investment, but can better make and analyse connections between different areas of your business, improving efficiency within your organisation and ultimately increasing productivity.

How can business intelligence help me?

Business Intelligence helps you to embrace strategic planning for business growth, by identifying key trends and patterns in your data that have the potential to unlock new growth opportunities, streamline processes or even reduce costs. Business Intelligence software provides a full 360 degree
view of your business, empowering individuals to easily share data across the business and give immediate access to vital customer and financial information. 

Is business intelligence just for those in a management position?

While historically, business intelligence may have provided information at a management level only, extending the reach of business intelligence is becoming more important than ever. Simple, easy to use tools can be used by anyone across the business, helping you to share information across different departments and therefore save time on reporting and analytics. This is particularly essential if you have regular reports you need to run e.g. monthly executive reports where you need the same information each month. Sharing information reduces duplication of data and means that not only will all your figures match up but that everyone is singing from the same hymn sheet.