Home BUSINESS Why is Business Intelligence or BI so Necessary For A Company?

Why is Business Intelligence or BI so Necessary For A Company?

The information and its correct therapy are one of the most critical factors for the success of a company. This information is more and more abundant every day, a phenomenon we know as Big Data, it comes from different sources and is presented in different formats.

In order for a company to extract and take advantage of the information and knowledge contained in such a quantity of data, it is necessary to be in a position to collect, order and exploit them, using the technology provided by the market, to correctly manipulate such volume. of data.

If the information of a company is not treated appropriately and its availability and access are not ensured at the necessary moment, all the value that it contributes to the decision-making process is lost.

A common scenario, shared by the vast majority of companies, is in which much of the relevant information is found in different systems and environments, accessible only to technical personnel and usually banned for their business personnel; therefore, they require the participation of the IT Department to provide them with access permission.

On the other hand, it is also a common scenario, that business users once have access to information, lack the necessary knowledge to work, process and make sense of this data.

Thus, we can indicate that these habitual scenarios in the industrial framework cause a great barrier, which limits the development of the business and the capacities and competencies of the Company; therefore, it is mandatory to use all available resources and technologies to overcome this barrier.

In this context it becomes necessary, to have a tool Business Intelligence, or BI, which facilitates access, the consultation and interpretation of all necessary data, contained in all systems of the organization; always respecting their security and confidentiality.

Big Data And Business Intelligence, Essential For The Growth Of The Company

The information that is extracted from the data allows us to propose improvements, identify new opportunities, define processes … obtain information and therefore results to improve decision-making in the business, optimizing management and operations.

The really complex task is in the “Know-How” when it comes to accessing the information that exists in each area of ​​the company and subsequently treating it in the correct way; So it is at this point, where the different technologies and tools of Business Intelligence or BI come into play.

In the company there are different and varied departments: financial, purchasing, IT, sales, operations … all manage a large volume of information day by day. If companies do not have a BI tool in which to dump all the data easily and automatically, the most likely scenario is that of the loss of useful information and data in the process.

How A Company Will Be Without Business Intelligence

In a typical company, management and strategy meetings are frequently held, attended by members of the different departments: commercial, sales, management, financial, production …

In these meetings the state of the company, the strategy followed and the new business opportunities are studied based on data from previous months. Typically at these meetings, each member has their own reports with data from each department. As each member has access to their own information, the data does not usually coincide with that of the rest, causing confusion and errors in the data obtained.

At this point and to check what is happening, they have to go to the head of the IT department, who is in charge of studying the provenance of each of the information, and then try to find where the error is.

The lack of understanding of the data means that the meeting cannot be ended and that the IT department dedicates its working day to studying what has happened, causing a loss of time and money.

Reasons Why The Company Should Have Business Intelligence

Implementing a business intelligence tool in an organization has infinite advantages, but if possible, based on a clear idea, the economic items of the budgets, destined to BI tools, are an investment with a clear and fast return on investment. Of the same.

The lack of data, the lack of analytical capacity of these and the data riddled with incoherence, reflected in the reports handled by managers, cause daily loss of time.

Obtaining the necessary information through traditional means that several people have to collect data from different sources in order to generate the corresponding reports with the collected data, with the possibility of having human errors, both in connection to the necessary data sources; as in the reports generation itself.

Business Intelligence tools allow you to have all the information in the same dashboard, also called a Dashboard, making access to information more agile and simple for business personnel, on a daily basis and just by pressing a button.

The connection between the information of all the data of the company allows to trace them from beginning to end. These tools connect data from different sources and environments, allowing users in each area to work connected and effectively and avoiding errors

Big Data and Business Intelligence are now the preferred technologies; since: they predict the future, reveal new ideas and add new business models for a company, maximizing and increasing its capabilities.

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