Benefits of Business Intelligence
Business intelligence (BI) has been around for quite some time, but the adoption has been slow. It is estimated only about a quarter of businesses are using business intelligence tools in their business. A lack of BI adoption is slowing down organizations from being able to process and understand their data. BI tools can enable greater insight and intelligence into areas of the business where there is limited visibility.
Here are some other benefits to using business intelligence within your business:
- Improved decision making: gives access to real-time data to help make informed decisions
- Greater efficiency: automates routine data-gathering and analysis tasks, allowing employees to focus on more strategic activities
- Enhanced visibility: gain visibility across multiple departments
- Better customer service: gives you data into customer behavior to help identify trends, preferences, and pain points
- Better forecasting: helps with budgeting and resource allocation
- Improved compliance: up-to-date and accurate information helps with regulations and reporting requirements
- Strategic planning: Bi tools can help identify long-term trends and patterns within the data
Organizations are facing challenges with improving BI adoption, but they don’t have to struggle alone. There are many proven strategies for adopting BI and an organization like 2W Tech can help! We are a technology solutions provider specializing in solutions for the manufacturing industry. We have a team of IT Consultants on staff that can work with your organization on the adoption of business intelligence tools, as well as other data analytic tools.