What is Business Intelligence?
In short, Business Intelligence is about getting the right information to the right people at the right time. That way they can analyze company data, predict trends, be informed on any potential business problem and make well-informed decisions. As Business Intelligence aims to support better business decision-making, it is often called a Decision support system.
Does my company need Business Intelligence?
In general, all organizations require Business Intelligence at some level. Mid-sized and smaller companies (SMBs) have the very same reasons for using BI as do large enterprises. That is, to be more competitive, to better understand the performance of their business, to support decisions for future direction or to identify potential or real problems. Maybe SMBs will have smaller BI project, but the impact of the intelligence outputs will be just as valuable as in large enterprises.
When is the right time for it?
There are big chances that your company is already using some form of Business Intelligence whether you call it that way or not. Most often it is in form of spreadsheets. There are major problems with that approach though. Often there are several employees with several spreadsheets serving the purpose of a data warehouse. They create reports often without any coordination, resulting in multiple versions of one truth. When the C-level manager asks a simple question like, “How is our revenue compared to last month?” he or she gets several different answers. Moreover, it will probably take a few days to deliver an (unreliable) answer. Then, as the company is growing, the number of transactions and different sources of data can quickly be too much for a few individuals who has been tasked to produce reports or analysis. If this matches your problem description, contact us and find out more. You can also try one of our live demos to see our product in action.
- Diagnose your ERP, CMR and any relevant transactional system
- Help you to identify Key Performance Indicators ( KPI )
- Work with you on definition of the most important Reports, Data Analysis and Information Dashboards
- Implement Data Warehouse and whole Business Intelligence solution with our own product, BusinessQ
- be your support for any further developments