The pursuit of better business analytics is constant for business decision makers. Everyone wants better business insight – but not a lot of “wants” get addressed in business. It’s when that “want” turns into a real NEED for business intelligence that you start to take action and figure out how to make BI a reality for your organization.
Business Intelligence can solve a myriad of business challenges. Therefore, most organizations will have different “Ah-ha” moments when they discover that BI is the answer. But that doesn’t mean that you can’t learn from other companies, identify with their challenges, and get the BI ball rolling before you find yourself in a critical situation.
In this video, three companies share the moment when they realized that they needed business intelligence. Do their stories sound familiar?
One company realized through a strategic analysis that some departments were collecting data that other departments were wishing they could access. They discovered that they could use Business Intelligence tools to analyze and surface their data so anyone who needed access to it could get it.
A chemical manufacturer wasn’t able to keep up with the ever-changing pricing on the commodities they were purchasing, which then led to challenges in setting pricing for their finished products. They realized that BI could help bring together current pricing data from their various business systems and help them purchase and price more efficiently to maximize their margins.
The finance team for the third organization was maxed out and couldn’t take on any additional work without adding headcount. When they assessed the team, they realized that everyone was spending all of their time building reports and no time analyzing reports. Business Intelligence tools were the answer that would provide them with the reports and easy ways to customize them so that the team could focus on analyzing the data and translating it into business decisions.
So, once you’ve determined that you need a Business Intelligence solution, how do you go about getting it?
One of the great things about BI is that it can be whatever you need it to be. There is a rich toolset that can provide you with the right data analysis for your business. BI tools include:
• Pivot Charts
• Strategy Maps
• Decomposition Trees
• Reporting and Forecasting Solutions
• Microsoft Power BI
• Monitoring via Dashboards & KPIs
To see these tools in action, view our recent webcast ondemand.
Can’t make the webinar? Contact us anytime to talk to one of our BI specialists about your business needs!