According to an article by Gartner Research, lack of knowledge is the greatest threat to modern businesses. To do this, point, “the goal of Business Intelligence is to eliminate the guesswork and ignorance in business environments, taking advantage of the vast volumes of quantitative data that companies collect every day in their various corporate applications.”
BI as a technological solution
Centralize, debug and consolidate data. BI technologies allow to collect, standardize and centralize all company information through a data warehouse, enabling effortless exploitation. Thus, the commercial, operational and financial departments strategic decisions based on the same information.
Discover not obvious to current applications information. In the day to day management applications can hide behavior patterns, trends, market developments, changes in consumption or production, which is almost impossible to recognize without the right software. It is what can be described as extract information from the data, information and knowledge.
Optimize system performance BI platforms are designed to perfect the most of the high – level consultations, making the appropriate to each system (transformations OLTP – OLAP), and releasing the operational servers.
BI as a competitive advantage
Actual monitoring of the strategic plan. If your company has a strategic plan, business intelligence allows, using a scorecard, create, manage and monitor metrics and strategic objectives proposed in this plan, in order to detect any deviations, taking appropriate actions to correct them .
Learning from past mistakes. By historicizing the relevant data, a BI application allows a company to learn from their history and their best practices, and can avoid stumbling again with the same mistakes of the past.
Improve competitiveness. According to international consultancy Gartner, 7 out of 10 companies perform data analysis on a daily, or even instant, at 2,006. This mechanism allows them to maximize their profitability. The pressing tendency to exploit information increasingly marks the difference in the sectors.
Get the true value of management applications. In recent years, companies have embarked on the construction of these key applications for their business. However, they have not always known how to exploit the full potential that can provide them income statements, cash flow, etc … With business intelligence, all employees, from the CEO to the last analyst, have access to adequate, integrated and updated