What’s the Big Deal With Business Intelligence (BI) Anyway?
Compared with established business technology like ERP systems or warehouse management software (WMS), Business Intelligence (BI) is a relative newcomer. But that hasn’t kept BI from quickly becoming an important topic of conversation in many business circles.
Even though BI has become very popular, some companies still don’t fully understand what it is and why you’d need it. In short, they’re wondering what the big deal is with business intelligence reporting. In this article, we’ll try and clear things up.
It’s All About Supporting Informed Business Decisions
In a nutshell, the concept of business intelligence reporting comprises a set of strategies, processes, and technology that support informed business decisions. BI reporting tools - like Sage Intelligence - can gather large volumes of data across multiple systems and sources, and then present all that data in a way that’s easier to digest and analyze.
Beyond traditional reports that often present static data in lines and columns, BI aims to make the reporting process more visual and dynamic by combining some of those numbers with charts, graphs, pivot tables, and dashboards.
Gaining Control of Your Business
Having simple access to accurate, real-time analysis sets the stage for faster, more informed business decisions. Gone are the days of dumping data into Excel, patching it together, and hoping all of your formulas are accurate. Or worse yet, waiting weeks for the IT department to create the custom reports you requested. By the time the reports are ready, it may be too late to take advantage of an opportunity or address a problem that has only become worse during the days/weeks you were waiting on reports.
BI Delivers the Full Picture
BI reporting platforms like Sage Intelligence empowers non-technical people with the tools to create, customize, and generate complex, multi-sourced reports that in the past, would have taken an IT technician to develop.
Without BI, some executives try and make due with what they have, but often find themselves plagued with “keyhole syndrome” - that is, trying to see what’s happening in a room by looking through the keyhole of a door. With that narrow view, you’re forced to make critical decisions with only a small portion of the data.
With BI, you can kick open the door and get the full picture of what’s going on in your business by tapping into ALL of the data collected in your ERP and other software systems.
Be sure to get in touch if you’d like to learn more about BI reporting or if you’re ready to put Sage Intelligence to work more effectively for your business.