Business intelligence or simply BI, refer to a set of strategies with the same philosophy. The business intelligence tools that have been developed, have had the purpose of improving management of internal and external information of organizations. This is why it is important to know which are their main advantages.
Business Intelligence Tools: What are they used for?
Business intelligence tools are designed for businesses to be able to collect, analyze, process and manage their data in a more efficient manner. This work allows to present information in an ordered and comprehensible manner for more precise decision-making. It is through this knowledge that the business will be able to evolve and project itself based on the present and future needs.
Advantages of Business Intelligence Tools
When you adopt technologies like ERPs, SAPs, CIMs, DSS, EIS, Datawarehouse, EPM’S among others, you have more possibilities of standing out before your competition. Among the benefits of applying these IT solutions, it is worth mentioning at least 5:
- Faster adaptation. Through a centralized model, you get integral reports of each critical department. This more efficient management streamlines the possible responses needed to know how to act. If you have everything at reach, there is no wasting time searching nor consolidating data.
- Better customer service. Along with processing information relevant to your clients, you start to understand their consumption habits. With these business intelligence tools you can address their needs in real time, analyze their behavior in detail, increase loyalty, and provide quality services.
- More control over the business. An organization must gather information of sales, stocks, marketing, accounting, purchases, clients, providers and other strategic areas. Because the business generates information every day, knowing how to interpret it is fundamental to make projections, predictions, and other models of future behavior.
- Management indicators. In terms of monitoring, managing, and analyzing, you need to establish performance parameters within the business. These metrics, initiatives, and tasks are used to determine the objectives of the staff based on the business goals and have a road map of continuous improvement.
- Precise information. BI data is used to have precise knowledge of the business at any time. This way, you make decisions based on internal up-to-date analysis and objective data, avoiding the speculations of the past.
In FusionWorks we understand your business’s evolution needs to manage internal information in an efficient manner. For that, we have several business intelligence tools that will take your business to another level. Ask us about these and other advanced IT solutions.