Established businesses have to deal with huge amounts of data every day. Many of these businesses still rely on old tools which makes the job a lot harder and more time-consuming. Many companies have already moved forward and adopted some form of business intelligence to deal with this problem. Usually, in the form of software, a business intelligence platform can integrate several important aspects of a business into one neat dashboard.
There are a number of reasons why investing in a business intelligence platform like Kyligence, should be considered by any business, big or small. First, it can help reduce operational costs. Second, it helps the company gain an advantage over the competition. Third, it helps improve employee satisfaction. Lastly, it is a tool that can increase revenue and improve customer satisfaction.
Moreover, there are tools that can be integrated in the business process along with these intelligence tools, to further improve their effectiveness. For example, transcription ai tools for note taking can be helpful in transcribing meetings, allowing for more accurate and complete records. These tools can capture details of the discussions and create documentations to make sure that no information is lost.
With the above examples in mind, how does a business determine whether or not adopting business intelligence software is ideal? Let’s take a detailed look at the signs you should be aware of.
Your company struggles with too much data that is not translated into usable information
It is true that collecting data is easy, but what you do with this data to come up with useful information is another matter altogether. Many businesses succeed in the aspect of collection but end up never actually using the data collected. The Bright Analytics Data Dashboard can help you gain valuable insights from such data in order to create concrete actions plans for your business.
Your company relies on its IT team for reporting
Coming up with technical reports should not be the job of your IT team. However, if your company does not have a usable data intelligence platform, it is likely that data will be dumped onto the IT team for storage. It is highly inefficient when you have to depend on them to pull data and interpret it for you. If you have analytics software, it will be a lot easier to handle reporting because the tools will be less technical and more user-friendly.
Your company has big data, but you are still using outdated spreadsheets
Excel is often the go-to platform for most companies. However, there is a limit to the amount of data this software can handle. For a company that is already envisioning growth, a business intelligence tool from the likes of SharePoint (also Microsoft) can overcome this limitation and allow for real-time collaboration and updates. By doing so, a number of ordinary tasks will become much easier with a unified tool. Not to mention, with an array of add-ons to choose from, such as a List Inline Editor, you can easily import Excel data & bulk-edit your SharePoint lists. You can learn more about the various add-ons provided by SharePoint on KWizCom or similar websites.
Your company is still using different sources for data
Joining data from different sources can be somewhat cumbersome. This is especially true for a business that deals with a large number of information sources which need to be joined together for reporting. A business intelligence tool helps to reduce the difficulty of mashing up data from different sources.
Your company is using an outdated model for KPIs
There is a major difference between reports and key performance indicators (KPIs). These metrics are what guides the company in their decision making. Unfortunately, pie charts and bar graphs are not the same as actual KPIs. A business intelligence tool can help in creating KPIs and goals for the organisation.
Image: Pixabay.com