Business Intelligence (BI), and how can you use it to benefit your organization?
First, what is Business Intelligence?
Plugging this and similar questions into Google returns over 72 million results; suggesting the definition of Business Intelligence is rather broad. Distilling those broad definitions, Business Intelligence is the methodology to use data, either the company's own data, external data sources, or a combination of both, to gain insights into the problem domain, and with those insights to gain a competitive or knowledge advantage.
Based on our experience
- Business Intelligence is not just a term that represents Reports and Dashboards that help organizations better understand their data. That is only a portion of the overall picture.
- It is a more holistic practice which includes understanding:
- How does the business operate on a day-to-day basis?
- What are the direct and indirect relationships across the organization that can impact operational performance?
- What patterns or trends exist so organizations can repeat what works and find solutions where it doesn’t?
BI for Everyone
Business Intelligence has been around for decades. However, it used to be that BI was only available to Fortune 500 companies because of the technological, resource and time commitments required to do it successfully. With solutions like Power BI, BI is now a reality for organizations of any size and individuals of varying skills levels.
However, with great power comes great responsibility and organizations should not jump into or take BI too lightly. It is still imperative that organizations put a proper BI strategy in place to keep everyone moving in the same direction. It is more important than ever to align yourself with the right partner that can help set the vision, execute and prepare your organization and your employees for what lies ahead.
Why Invest?
Business Intelligence provides a company a significant and proven competitive advantage over those organizations that choose not to invest or do not anticipate the value of BI. Typically, companies have told Avtex that they want to gain business insights, they want to gain a competitive edge, they want to lower their costs, or they want to find new markets.
Some of the many benefits of Business Intelligence that have a high return on investment are…
- Rapid decision making based on actionable, fact-based, and reliable metrics
- Tactical alignment of your company’s vision and strategic goals that can be mapped and tracked over time
- Decreased operational costs and improved operational and business process efficiency
- Deep understanding of market behavior and market segments while valuing the sentiment toward your company, markets, and product/services
- Identify cross-selling and up-selling opportunities
What is Next?
As an industry leader in Microsoft Business Intelligence and Data Analytics, Avtex can work with you to ensure success and efficiency. Avtex will…
- Align with your vision and strategy
- Create a Business Intelligence Road Map
- Empower your business and business users
- Introduce industry standards around the Microsoft Business Intelligence platform and its implementation
To be successful, your Business Intelligence initiative must have a strategic approach aligned with your organizational objectives delivered through a trusted and loyal partner. As a Microsoft Partner, Avtex offers superbly effective and cost efficient Business Intelligence solutions.
References
- Microsoft BI and Analytics (http://www.microsoft.com/en-us/cloud-platform/bi-analytics)
- Microsoft Power BI (https://powerbi.microsoft.com)
- Microsoft TechNet (https://technet.microsoft.com/en-us/library/cc811595(v=office.12).aspx)
- Jen Underwood BI & Advanced Analytics (http://www.jenunderwood.com/2016/01/03/bi-wars-microsoft-awakens)