Business Intelligence & Analytics - SME or Big Company

3181 reads

BI

Business Intelligence, BI or Big data , are increasingly becoming popular in the business world today.  They used to be terms one associated with large enterprises up until fairly recently.  However, as BI technology has advanced, deployment, licensing, and support options have increased making it more affordable for small and midsized organizations. But the question you may be asking is, “Why do I need BI?”

Short on time? Get started with BI with the affordable and accessible dashboards available through V2 Technologies BI.  We have helped in differerent business domains such as Media, Finance, Supply Chain Management, etc

Virtually every small, midsized, and large business can benefit from BI.  Specific issues or scenarios that are good indicators a BI discussion should take place include:

  • The need to integrate data from multiple business applications or data sources
  • Lack of visibility into the company’s operations, finances, and other areas
  • The need to access relevant business data quickly and efficiently
  • Increasing volume of users requiring and accessing information and more end-users requiring analytical capabilities
  • Rapid company growth or a recent or pending merger/acquisition
  • Introduction of new products
  • Upgrades within the IT environment
  • Figure out which product or brand or category is best for you
  • Do a planned and targetted Marketing

There are several benefits a BI solution offers to an organization regardless of size:

Share information efficiently and effectively with people across your organization.

BI makes it easy for everyone- from decision-makers to functional teams- to access and analyze up-to-date information anytime, anywhere.  Everyone throughout the company can make better decisions, faster.

Empower your people.

Providing employees with access to analytical data that is readily available and understandable allows them to work more effectively and support the overall business strategy.

Simplify collaboration and sharing and improve alignment with a single source for accurate financial and operational information.

Having a single, central location allows you to monitor your key performance indicators (KPIs), access reports, analyze your data, and share documents.  All of the functional areas are aligned to articulate strategies, set objectives, and monitor the organization’s performance so you can make better informed and timely decisions that support your overall business strategy.

Gain insights to understand and analyze your business performance and opportunities on a deeper level.

Analyze and evaluate information that is more accessible and easy to interact with to make strategic and tactical decisions.

Deliver meaningful analysis and reporting.

Readily track and analyze KPIs against key business goals to gain a better understanding of how your business is performing today and not when it’s too late to impact performance.

Have a solution with the scalability and flexibility to grow and change as your organization does.

Many companies rely solely on the most widely used BI tool, the Excel spreadsheet.  While Excel offers many useful features such as graphs, charts, and pivot tables which assist in decision-making, it doesn’t scale to your business.  Also, compiling data from multiple, disparate databases is time-consuming and is prone to errors.  However, Excel is still a key component of a total BI solution.

 

Trending

154
Ron Kaufman's picture

Why Business Leaders Must Attend Service Training

The most common question we hear when launching service excellence training programs inside large organizations is: “Do leaders really need to attend these workshops?” This raises a different and more important question for senior leaders: Do you
164
richardbranson's picture

Here’s How to Overcome Embarrassment and Improve Your Self-Confidence

The Fear of Embarrassment IQ Matrix will help you to take control and eventually overcome the feelings of embarrassment you may experience in awkward situations. The article explores what it means to be embarrassed; highlights causes of
272
jackcanfield's picture

How to Make 2018 Your Best Year Ever

Regardless of how you ring in the New Year (with lively parties and fireworks or cozy celebrations at home), there is a recurring theme at every New Year’s celebration: to the make this year the best year ever. “If you get clear on the what, the how
269
davecrenshaw's picture

Should you trust your customers?

If you trust your customer to pay you back, will you receive their loyalty plus interest? Well, that’s what I did. No, I didn’t take out a loan or buy a car. I was just getting some chicken. Popeyes fried chicken to be exact. No, this isn’t paid
114
johnsullivan's picture

Simplify Your Social Media Recruitment By Building Your Own Chatbot

Today, human resource staff focus more on strategizing and satisfying employees’ needs than on administration and recruiting, which were the cornerstones of HR work in a previous era. HR professionals are taking on a much more meaningful role in
155
Johngreathouse's picture

10 Step Checklist To Rank Your Startup Ideas

A version of this article first appeared in Forbes. Steven Johnson, author of How We Got To Now, analyzes technological breakthroughs, looking for patterns that allow entrepreneurs to identify “How We’ll Get To Tomorrow.” One of the key myths
113
sethgodin's picture

What do you see?

A better question might be, "what do you choose to see?" If I take four professionals to the Whitney: The architect sees the building, the sight lines, the way the people and the light flow. The framer notices the craftsmanship...   
124
ramanujamsridhar's picture

What an Idea, Sirji!

It is very difficult to build a brand property which could be a campaign idea, a tune or a tag lineI have an unreasonable liking for Idea, the mobile services brand. And this proclivity has to be understood slightly differently. I used to head the
546
vsquare's picture

Iceberg Tax: Impact on LTCG will be more than 10 per cent

From: economictimes.indiatimes.com Recommended by: vsquareGives a short perspective on how to save on Long term capital gains tax.By Dhirendra KumarFrom a personal savings and investment perspective, the restoration of long-term capital gains

Pages