Something more and more of the larger companies have started to notice is something called business intelligence software, but what is this software and is it some kind of magic solution that can help you become more successful?
In many cases the answer is yes. A lot of companies benefit greatly from their business intelligence software and can use it to boost sales, see which products to focus on and where to focus on them. This way they can more easily decided what to sell and where to sell it, preventing them for ending up with a large pile of products just sitting in storage facilities just because they didn’t knew how to optimize the sales flow.
Business Intelligence takes your data, and combines them into graphs that makes sense to humans thereby enables you to better analyse your data and learn a lot more about your company.
If you are a smaller company who doesn’t save all types of information, a BI system isn’t something for you yet, but if you are a larger business and collects all types of data about your sales, expenses, income etc. then you might want to consider installing a business intelligence system and start reaping the benefits of these systems.
Not only can they give you a much cleare picture of your company profile and sales, but also be a good tool for helping you make the best decisions based on facts, rather than just going with the best guess as many companies does these days.
What does it require to use a business intelligence system? Like most types of information systems it does require you to collect and save your data. By storing as much information as possible about every small part of your company you can improve the patterns the data mining software finds for you and help the software make even better and more accurate decisions for you.
You will also need to buy and setup some type of business intelligence system, such as the oracle, microsoft or targit software.
Then you have to train the people using the systems in how they can combine various data tables, which data to analyse and how to read the graphs delivered by the system. Follow these few steps and you are well on your way to getting a much better insight in your company and using this new insigt to shape the future of your business!
Stanislav Krotov is a technical writer with a passion for writing on emerging technologies in the areas of mobile application development and IoT technology. ( Moscow State University of M.V. Lomonosov )