Regardless of the area in which your business operates, you will need to rely on data to guide your decision making. It is at this moment that technology becomes necessary, because it is through it that you will have the basis to create strategies and quick actions. BI solutions allow the manager or director to have useful and updated information about his company in order to know how to proceed in face of the competition and the crises in the country’s economy. The use of technology brings great competitive advantage, allowing managers to have more control of their business, among several other benefits as we can see below:
- Managers can detect failures and identify investment possibilities, improving their performance in the market;
- Employees save time in long and tedious activities such as data collection and manual report generation, avoiding errors and rework. Thus, they can use the time to increase and improve productivity, feeling more satisfied and motivated by being able to produce more and with better quality;
- BI solutions bring security and confidence in the information that is extracted to become the basis for planning, because it can be updated in real time, bringing more agility to the decision-making process;
- The control of expenses and revenues, for example, is one of the analyses that can be done using financial management indicators. They point out which investments are giving positive returns, which actions are not having the expected success, and which is the way to improve profitability;
In view of all these advantages, it is possible to realize that BI can be further explored and help your company to obtain significant gains in any segment, isn’t it? Read on, we will talk about how the application of Business Intelligence works in practice and, based on examples, you will be able to understand how the solutions are adaptable to any company.
Data is the basis of everything
The dashboards or management indicators display information from various data sources in visual components that facilitate understanding and decision-making. It is important to emphasize that for an assertive decision making process the data presented must be consistent and reliable, and that data preparation is the first step to be planned in a BI strategy. For this, it is necessary to use appropriate techniques and tools to ensure data integrity.