In today’s ever changing business environment, businesses need to be one step ahead of the competition at all times. That means staying on top of technology and turning business data into usable information, known as business intelligence. Business intelligence can be a valuable addition to any business strategy to drive growth; not only can it aid decision making, but it can improve productivity and ROI too. How can business intelligence help grow your organisation?
1) Make faster and more confident decisions
In days gone by, individual departments within a business would record and store data making it difficult and time consuming to collate information across the business and make decisions. By the time a decision was made, the situation would most likely have changed. Business intelligence software helps you stay one step ahead by allowing you to access to real-time graphs and spreadsheets, giving you complete visibility of the entire organisation in one place. This means you can make up-to-the minute decisions confidently and quickly.
2) Satisfied customers and better customer retention
You think you know your customers, but do you really? Do you know what products they buy and when they buy them? How long does it take them to reach the purchase decision and what other products do they look at? How often do they return to re-purchase from you and what challenges are they facing as a business? Business intelligence software will ensure you know your customers inside out giving you an insight into their patterns and behaviour, so you can offer the best products and service to retain them.
3) Plan for the future and be proactive
Businesses always have, and always will, face uncertainty about the future. This is particularly topical at the moment with Brexit underway. Business intelligence can help minimise the risk of uncertainty by giving you an insight into how your business has performed historically. It can help you take proactive actions to predict and manage changes and reduce the impact any changes have on your business.
4) Empower employees
Don’t keep information hidden away for only the top management to see. If business data is accessible for everyone to see and use it can help them make more insightful decisions from the “shop floor” which can have huge benefits for the overall success of an organisation. Plus, it’ll empower and motivate your employees are drive productivity in the longer term.
5) Make the data you need
The beauty of business intelligence software is you can access the exact information you want, when you need it. No more guess work or hours crunching the numbers. A well implemented business intelligence solution will give you the ability to correlate your data how it suits you, and share it easily with other employees and managers across your business.
6) Save time
One of the simplest, yet biggest benefits of a good business intelligence solution is the time saving it can offer. Inputting data can be an arduous and costly task, especially in time and cash strapped organisations. Business intelligence software can generate reports at the click of a button where most of the leg work has already been done so you can focus your time where it really matters.
Do you think your organisation could benefit from some of the above? Maybe it’s time to think about investing in a new business intelligence solution? Opera 3 has award-winning business intelligence, functionality which can provide valuable insight for your business. Contact us , to learn more and to discuss your requirements.