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Companies are using business intelligence tools to assist in their business operations. Whether it’s collecting, analyzing or virtualizing data, or creating reports, business intelligence systems can do all this and much more. They also allow companies to make strategic business decisions to increase efficiency at an affordable price. That’s why many small business owners are jumping on the bandwagon and reaping the benefits of BI.
As a business owner, you may have come across business intelligence at some point in your research for efficient business tools. Business intelligence is a term that sounds intimidating, but it’s actually really easy to understand.
BI is a set of tools and techniques that transform raw data into information that companies can actually use for business purposes. You can use BI tools to collect data from internal systems and external sources. That data can then be analyzed and compiled into text or visual reports for corporate leaders, assisting them in making important business decisions.
When it comes to analyzing data, business intelligence is a cut above other methods like simply pulling data from Excel spreadsheets. Businesses can use BI for many purposes. Here are some benefits.
After you’ve researched the benefits of BI to your business, the next step is to implement it in your company. The first thing to clarify is your need for business intelligence. Do you want to improve your sales? Are you looking for new customers? It’s important to be clear on this, so that you can choose a BI tool that will provide the best solutions to your problems. Once your objective is clear, it’s time to determine what resources you already have to get the job done. In some cases, your existing tools may be sufficient.
There are lots of BI options to choose from, and you should pick the one that best suits your needs. Want to know how to adapt business intelligence to your company? Give us a call and see how we can help.
Published on 12th March 2015 by Jeanne DeWitt.