BI Reporting – Why should spend on BI Reporting in (2020)
The BI Reporting is gaining greater acceptance day by day by all, be is a large organization or small organization. Today, organizations handle a flow of information that was unimaginable just a few years ago. Because our world is now much more instrumented, the ability to collect data is impressive. In an unstable and fast retail environment, each brand may exercise some loyalty, and in fact, new research claims that the value of loyalty may seem higher than the face value.
It is enough to observe the information so valuable that a supermarket collects through loyalty cards, through a security camera in the streets or the way in which call centres collect information to understand why complaints and abandonment of their customers.
You cannot start or manage a business without making a list of customers or potential clients. Unfortunately for many companies, this type of data has become a weight with which it is difficult to deal with. Due to the large volume of information that is currently available, far from being useful, it can become a failed attempt to give it a proper use.
The business world is currently bombarded by a large amount of information, so it is necessary to manage it in a quick way that facilitates decision-making. Starting from this premise, great tools have emerged that eliminate the requirement of a manual analysis of great informative content and this is when Business Intelligence enters, capable of transforming that information into useful knowledge to enhance decision-making.
Currently, BI (Business Intelligence) is one of the main weapons of technology companies or any company that needs to collect information from management processes and develop the company at a higher level than its competitors. Some great benefits that BI provides are the following:
Benefits of BI Reporting
- Increase the efficiency of the company, that is, avoid wasting much of the time looking for information that is irrigated by the different departments of the company, trying to understand how the business works from the data obtained. With the BI Reproting these data are already in one place in an organized way. In addition, it automatically interprets the data helping to facilitate decision-making.
- Something additional to the previous point is that as generally happens in SMEs, decisions must be quick but especially right in those moments where the pressure suffocates the company, therefore, wasting time reading data in mountains of paper is not a great help. The BI Reporting program enables decision-making in a matter of minutes in a precise and accurate way since the data are obtained in order and in different areas in a matter of moments.
- It allows obtaining important measurements in various areas, for example, you can obtain figures on the sales made by the Distribution company, the performance in the notices attended by a repair and service company or the cost of the inventory of an installation company, etc.
- Companies at no time can be managed by intuitions or beliefs of certain events and speculations (at least a company that aspires to great things should not do so).
If a company manager is able to manage in this way, it is because he does not have enough data to create an action plan and a knowledge structure capable of guiding the company towards the next step to be taken. This system provides accurate and clear information about historical data, real-time updates, as well as trends that may occur based on the data and information it handles.
The BI Reporting as if that were not enough, is able to provide valuable data on how the customer’s behavior is, allowing analyzing information about the products that he acquires, frequency in which he makes purchases, among many other factors.
