Modern business decisions are rarely made by one person. Considering the levels of approval needed for just about any job to get done, communication is vital. Even when it comes time for final approval, decisions are rarely made in a vacuum, which is why collaborative analytics and Business Intelligence (BI) software is a must-have for any top level company. Switching to a collaborative BI system, such as Power BI, improves the experience of the collaborators, which in turn improves the experience for the end user, the customer.
By implementing a system such as Power BI users will have previously unseen levels of interactivity between users in different departments and spheres. By giving users with different areas of expertise the ability to provide feedback and insight in to data analysis, businesses can be assured that they are making the most informed decision possible. Companies using collaborative analytics to make their decisions reported double digit increases in both organic revenue and operating profit.
The bottom line is not the only area where companies using collaborative BI have seen improvement, however. Companies polled by the Aberdeen Group reported substantial increases in speed of decision making (66% over 20%), trust in underlying data (71% over 25%), and customer response time (78% over 36%) amongst those using systems such as Power BI over those not. Their research found that organizations using collaborative analytics are 77% more likely to deliver against user needs, empowering collaborators and customers alike.
Collaborative BI Advantages Over NonCollaborative Users
By empowering their employees with collaborative software such as Power BI, organizations can see an increase not only in interactivity across departments and spheres, but also quantifiable gains in efficiency, satisfaction, and even profit. With improvements in these major areas, tools such as Power BI are quickly becoming the standard.