Business Intelligence (BI) is a set of tools and methods that help businesses manage and analyze the data they generate. This is a key solution for large companies looking to maximize their performance and stand out from the competition.
If it helps you, here is a short video to easily understand business intelligence!
Help with decision making
Business intelligence helps collect, store and analyze business data efficiently. This allows business leaders to see the big picture of the data and identify trends, opportunities and risks. BI tools also allow you to create dashboards and performance indicators to monitor business results. Leaders can make better, faster decisions based on company data.
BI tools like Qlik Sense save time and optimize human resources by helping analyze company data to make the right decisions.
Data structuring
In a business, data comes from several sources. They are of different types and come in various formats. This does not allow their easy processing without careful structuring work upstream. When this preliminary work of preprocessing and classification of data is not done, they are often poorly used.
Thus, their analysis can lead to erroneous results and unnecessary decisions. Said structuring work is often difficult to carry out by a professional with traditional tools, especially when the volume of data is significant. This is the advantage of using BI tools.
Indeed, they are very useful for data classification and structuring. With such tools, your data is now reliable, whatever its sources and types.
Productivity improvement instrument
Once you can put your data , analyzing it becomes easier and easier. As you know, well-interpreted data leads to interesting results. Likewise, based on the results of your analyses, you can guide the productivity of your company since now you know which levers to activate to obtain better results.
When we talk about productivity, it really means better management of inputs for a profitable finished product. BI therefore allows you to take into consideration everything that will enable this objective to be achieved. The profitability of your business and its sustainability on the market depend on it. In an increasingly competitive world, it is essential that your products meet customer expectations.
Improved forecasting and planning
BI tools allow you to analyze historical data and trends to develop more accurate and effective forecasts and action plans. These forecasts can be used to plan company resources, investments and strategies. This helps anticipate future needs and risks and take steps to manage them.
Improved profitability
By helping to make informed decisions, structure data and improve productivity, business intelligence allows companies to improve their profitability. Companies can thus maximize profits and reduce costs by targeting the most profitable business opportunities and optimizing processes.
Strengthening competitiveness
By having a better understanding of their market and their activities, companies can better target their offer and their strategy to strengthen their competitiveness. BI tools allow analysis of market data, trends and competition to identify business opportunities and
potential threats. Companies can thus adjust their offering and their strategy to meet the needs of their customers and differentiate themselves from their competitors.
Process customization and automation
BI tools allow you to customize dashboards and reports to meet the specific needs of each user or each department of the company. Additionally, they enable the automation of certain tasks, such as creating regular reports, which saves time and reduces errors.
Improved collaboration and communication
BI tools allow data and information to be shared effectively between different departments of the company and between employees, which promotes collaboration and internal communication. It also allows decisions to be made more quickly and problems to be resolved more effectively.
Possibility of integration with other tools
BI tools can be integrated with other software and tools used by the company, such as customer relationship management ( CRM ) systems or enterprise resource planning (ERP) systems, allowing optimize processes and information flows. It also allows you to have a global vision of the company and its activities, which is essential for making strategic decisions.
In summary, business intelligence allows large companies to better manage their data, improve decision-making, optimize processes and improve their overall performance. BI tools also make it possible to automate certain tasks, facilitate collaboration and communication, and integrate with other tools used by the company. All this contributes to strengthening the competitiveness and profitability of the company.
