1.) Intuitive and Understandable Statistics and Predictive Analytics
In the 21st century, we have access to more data than ever. Big Data, Meta Data, data is everywhere. This data can influence decisions and help improve businesses at all levels, but the problem is knowing what data matters, and what to do with it. BI software helps you solve those problems and can deliver easy to use analysis of your company and customers so that you’re making informed decisions, driven by the right data sets, to set your company apart from your competitors.
2.) Fast Access to Reports from a Single Interface, Accessible from Multiple Locations
Remember that thing about data being everywhere? With so much data out there, it requires supercomputers and advanced algorithms to search for and identify trends and valuable insights. Letting BI software do that work for you means that you can have that information at your fingertips, or the click of a mouse. Now with real-time insights and automated reports created with intent-based modeling, you can have the information you want, how you want it, updated and ready for you to review whenever you want it.
3.) Savings on Training
Business Intelligence software is powerful stuff. So powerful that it can replace multiple software products and outperform them all. With less software to use, businesses can save money on training. There are less products to train employees for, but there is also one data output format, meaning your customers will come to recognize and understand your reports faster, boosting efficiency and increasing cost savings.
4.) Collaboration/Co-working Capabilities
Many Business Intelligence solutions offer you the ability to collaborate and co-work from multiple locations. For example, IBM Cognos allows users to host their data in the cloud, meaning partners from all across the globe have shared access to data and analytics, helping your teams work together in ways that were previously only possible with everyone together in the same room. Users from one site and create and execute queries that can be edited and improved at another site, in real time.
5.) Minimize Redundancy and Eliminate Guesswork
With BI, your company only needs one data warehouse, so there are far fewer issues of data redundancy and no need to purchase and maintain costly data storage, design and synchronization software. With a single source of data, you can be confident that the reports you’re creating and seeing are up to date and include all customer/client/business data from your database. This saves your company time, money, and manpower associated with stand-alone data analytics or CRM software.
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