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BI can handle large amounts of information to help identify and develop new opportunities. Making use of new opportunities and implementing an effective strategy can provide a competitive market advantage and long-term stability.
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Organisations ignoring BI within their strategies will soon realize that they are missing the core function that's required to run their business.
Quantity of information leads to mis-calculated decisions if it's not presented in its accurate form. BI ensures that the data coming from across the organisation makes some perfect sense that could be used to make sound and effective decisions. BI enhances quantity (of data), by presenting in a quality way (meaningful reports).
Accurate and meaningful reports available in their minute form help management make decisions that boosts organisational profitability.
Business Intelligence support top level management to make effective informed decisions using new opportunities and implement an effective strategy which can provide a competitive market advantage and long-term stability, BI deffinetly boost profitability and competitive advantage of an organization as we are in the era of big data.
They definetely can, the very strong point of BI is combining data. But, to make an BI system efficient, the data sould be structured in such a way that it can be analyzed in a coherent way.
Therefore, for example, production costs should be allocated in a similar way as HR planning, budget and quantative production planning are structured.
Profitability can very well be measured by creating busines scorecards. These give you the opportunity to analyze the profitability of your business in detail.
Also BI Analysis of sales analysis can be very helpful, if you combine your (internal) sales data with external (geographic or demographic) data and can create a competitive advantage.
if you measure perfectly you manage successfully. Data warehouse provide accurate, valid and critical data @ a right time to enhance business performance
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Organisations ignoring BI within their strategies will soon realize that they are missing the core function that's required to run their business.
BI speeds up the reporting process within organization. It saves time by providing them pre-compiled reports hence reporting executive can invest their time in any other more productive activity. For decision makers, consolidated actionable information enable them to react fast resulting efficiency of decision process. At organization level it automates the reporting needs of organization by standardizing information on single platform.
BI helps the orgnization leaders to know better insights towards organization objectives. It also supports in forecast the business trends and helps to be prepared to meet that situations without fail. Last but not least just by viewing the REPORT organization leaders could know the current status of the company with in no time.
BI highlights the weakness and strength of a firms performance which help decision makers to be able to measure their response towards growth. complex analytic can't be done simply using ordinary data tools. BI products nowadays is customizable for each industry and area of speciality from the major cases occurred in the last couple of years . so as a plus BI tools helps any firm to grow not only by viewing reports that can't be reached , but with a sophisticated solutions for each targeted business area using past experiences,
One great dimension from looking at BI is the estimation based on the current systems performance so simply it learns and predicts before a decision make do , in order to offer problems and solutions and justifications with simulation scenarios.
Business Intelligence helps in consolidating large amount of raw data related to the business and generating useful information for management. This information could be related to company internal operations, supply and distribution logistics, sales and marketing, service or any activity related to the business. The information generated could help the management in regular and timely tracking of business activities as well as help in identifying shortfalls/gaps in existing processes. It could also help in analysing past performance, identifying new opportunities. An efficient BI system can help the management in getting the required information at the right time to make the right decisions. It is an era where it is getting more and more difficult to achieve competitive advantage through product differentiation. An efficient BI system can help the management to respond faster to the changes in business environment and thereby achieve cometitive advantage.
through the efficient use of Business Intelligence tools like:
1- The possession of the economic environment strategic informations (help to anticipate the market variations and propect yourself),
2- The softpower.
