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Business Intelligence Essay

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Gaining a competitive edge through better business intelligence

Optimizing data to drive innovation, boost efficiency, and accelerate decision making

With information streaming in from a seemingly endless array of applications and devices, organizations face the daunting task of extracting insights from new data sources and types, including structured and unstructured sources. There’s also the challenge of the speed in which data is coming in and how quickly you need to be able to capitalize on it. In this environment, competitive advantage hinges not only on your capacity to access data quickly, but your ability to analyze and act upon this information in a timely manner.

To better manage the increasing volumes data, organizations
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If you are running reports in different systems, trying to understand all the connections between the various data sets, you are likely gaining only a small sliver of the insight you could be getting by applying business intelligence capabilities across your data sources. If your data can’t tell you which of your business units are performing well or struggling, or provide clear, actionable insights, then you aren’t fully grasping the full scope of why business intelligence is important.

Once you begin exploiting BI capabilities to work with multiple data sources, you’ll discover how easy it is to add other data sources to the mix, with seemingly endless options to the insights you can gain. Core tasks like distributing and collecting information from different managers, consolidating multiple spreadsheets, creating organizational plans, and debugging broken formulas, will suddenly become substantially easier.

Many businesses plow forward using inferior tools because they’re not sure why or how business intelligence tools deliver value. The beauty of business intelligence is that it improves your ability to identify trends and opportunities, uncover new insights, and refine and enhance operations to achieve business goals. Ultimately, if you don’t have easy access to the right information, evidence-based decision making is impossible.

Reaping the benefits of better intelligence

All data-driven organizations needs robust BI
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