So you have been working with business intelligent tools for a while but when confronted by the COO on why you think they would be a good fit for your company you cannot figure out how to explain it to him/her.Here I have posted and describe three arguments you may use to persuade a business of the general value that Business Intelligence offers to most companies.
1. Make faster decisions
BI helps make better quality informative decisions at a faster rate than was done in the past. It is not just for the IT staff, it is used by managers, executives, and consumers. One of the finalized reports in BI is the dashboard that allows for instantaneous perception of enterprise, departments and individuals performance, by bringing key metrics in a nice-looking and instinctive graphic interface. The best portion of a well advanced dashboard is the capability to drill down to underlying reports and apprehend what factors are contributing to good and bad performance. Another basic feature about dashboards is they permit you to effortlessly and constantly observe for exceptions, and alerts operators when to take action.
2. Report on the Now not the past
While most reports can show you what has happened in the past, BI analytics can alert you to what is happening now and send out an alert. BI can also extrapolate possible future outcomes as well and all from a central location so that there is no relying on several different user reports from spreadsheets. The consistency of views is offered between all users because if the automatic data inputs. Because most of BI is automated, the accuracy of the data is also easier to trust. It is imperative for a corporation’s success to have detailed analysis of a corporation’s customers, business environment, stakeholders, business processes, competitors and several other sources of potential valuable information.
2. Future Insight
BI can offer future insight with predictive tools so besides just viewing past and present information, you can also get a feel for what may happen in the future. Forecasting possible outcomes also gives users the ability to be proactive. Data mining allows analytics to be run on information that may have hidden patterns. Through simulations and collecting seemingly unrelated data, information can be revealed on what be approaching.
With BI you can increase employee productivity, by empowering employees with up-to-date reports that will help business decision making capabilities. Your business processes can be easily manage corporate wide from one spot. Relationships with business customers increase as well as the ability to increase market share, the companies IT department can reduce resources which reduces costs and helps deliver a more flexible department for developing and deployment of future cycles. The best way, in my own opinion, would be to provide several case examples from several different organizational implementations, from large scale to small, depending on what business you are trying to convince. If you are dealing with someone more tech savvy, then instead of just using dollars and cents, you could move on to actual business models that can help realize a business strategy.