Below is the first in a series of blogs discussing Business Intelligence. In this series, we will start with the topic in very general terms and progress to the specific advantages and disadvantages of Business Intelligence applications. Finally, we will cover functionality available in applications such as Tableau, a market leader in data analytics.
Business Intelligence results when data, derived from internal sources such as financials and operations data, is combined with external data from the market thus resulting in a more holistic picture of the business environment. Business decisions, based on a broader base of information, are more accurate and provide the company with a strategic advantage. in the competitive landscape.
As rightly said by the Gartner Group, the ability to transform the business to compete in an emerging digital economy will be contingent on the organization’s ability to curate, manage and leverage big data, IT content, social media, local and federal government data, data from partners, suppliers and customers, and other exogenous data sources as they materialize.
Business Intelligence (BI) tools provide many benefits. They allow us to:
- Eliminate guesswork and rely on actual data
- Realize faster answers to business questions
- Get key business metric reports when and where needed
- Obtain insight into customer behavior
- Identify cross-selling and up-selling opportunities
- Learn how to streamline operations
- Improve efficiency
- Understand what true manufacturing costs are
- Manage inventory better
- See where business has been, where it is now and where it is going
A lot of processes will get automated in the future and more and more interconnected devices will generate data. Not just manufacturers but also the users are now smart enough to ask for the data and analyze it for their own benefit. More and more organizations are taking advantage of information overload for their own benefit as well as to serve their customers better.
Computer Technology Resources is proud to announce the company’s Alliance Partnership with Tableau, a leader among BI tools. Stay tuned for more about CTR and Tableau in later blogs. Please contact Dick Kenny at 714-912-9719 or email firstname.lastname@example.org to know how BI/Tableau can better your business.