This month, we’re going to highlight a series of thought leader perspectives on business intelligence. Our ability to capture, analyze and leverage insights from data has never been more robust. When you implement a business intelligence strategy, you’ll be able to make better decisions that will help your business run smoother and more efficiently. You can also use this information to identify trends to increase your revenue. When used effectively, a business intelligence strategy can provide a positive impact on virtually every aspect of your operations.
Understanding business intelligence solutions and identifying the best options for your specific needs can be overwhelming. Before committing to a specific strategy, it’s important to become more familiar with what business intelligence is and what it can accomplish.
While subsequent articles will provide a deeper dive into business intelligence, we feel that it’s important to start with an overview to ensure you have the proper context to understand the specific nuances that we’ll discuss later this month. We recommend that you read the following article to gain a deeper insight into how business intelligence can benefit your business:
The Role of Business Intelligence: What It Is and Why It Matters
Webolutions can provide the guidance you need to ensure your business intelligence efforts are successful. Our team has extensive experience setting up and managing business intelligence strategies for companies in a wide range of industries. We’ll work closely with your team to understand your specific needs and goals. We’ll then set up all proper data pipelines and identify the ideal BI solution for your business. In addition, our Real-Time Performance Intelligence™ models provide the insightful, actionable information you need in an easy to process manner that helps you better understand critical information and trends.
Business intelligence (BI) is an umbrella term that encompasses the ways in which you collect, store, analyze and report data generated by your operations to make more informed decisions moving forward. This ensures that your decisions are guided by comprehensive data which tells a complete picture, rather than isolated anecdotal evidence or gut instincts. When your actions are grounded in data-driven insights, you’re much more likely to make choices that will achieve your goals.
When you’ve implemented a strong BI strategy at your company, you’ll have highly accurate, comprehensive and organized data that can help you make informed decisions in just about any aspect of your business. These tools can be used by just about every team at your company. Common uses of BI include:
While business intelligence traditionally required an in-house team of data analysts, there are a wide range of self-service BI solutions available today. Self-service BI allows everyone on your team to access and analyze your data without the need for a specialized data analysis background. These tools make business intelligence more accessible to your entire team, and it frees up your data analysts to perform more advanced tasks.
When evaluating BI solutions for your business, make sure to consider the following:
Before implementing a BI strategy at your company, you’ll need to do some planning:
It’s understandable if you find the ins and outs of business intelligence to be a bit overwhelming. It’s a complex, multifaceted strategy that when leveraged correctly, can help your business thrive. But when not implemented properly, your business intelligence strategy may fail to yield the results your company needs.
To speak with one of our consultants about developing true business intelligence for your company of at least $5 million in annual sales, call us at 303-300-2640 and request a Free Business Intelligence Review. During this 30-minute introduction, we work together to help you better understand this system, discuss your business goals, and start outlining your plan. You can also email any questions to [email protected].
Webolutions is a full-spectrum business consulting and strategic implementation company. We help businesses across the country identify and effectively bring their unique story life, allowing them to scale faster, smarter and easier.
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