“Business intelligence (BI) is the set of techniques and tools for the transformation of raw data into meaningful and useful information for business analysis purposes”
Business Intelligence (BI) helps you to make better and faster business decisions by analysing metrics and KPIs that are not easily measured in a non BI environment. It helps you to embrace strategic planning for business growth, by identifying key trends and patterns in your data and gain a better understanding of your business, transforming data into actionable information. You are more responsive and can support future planning with the ability to identify opportunities to increase revenue or to reduce costs.
BI allows business owners and managers with the power and flexibility to ask and answer questions based upon a clear view of up-to-date operational data.
BI enables users to become self-sufficient for their own reporting requirements and allow them:
- Do analysis, run reports, and make predictions based on past performance.
- Aggregate information from multiple data sources; legacy systems, budgets in excel, CRM and ERP systems.
- Understand sales/revenue data and where it comes from.
- To make better inventory and purchasing decisions.
- To create corporate scoreboards and KPI’s.