The purpose of Business Intelligence (BI) is to collect, analyze and use company data to help organizations make better decisions. To show you what business intelligence is worth to businesses today, we’ve compiled this infographic.
Big data is the term used to describe the enormous volumes of data that modern organizations have to deal with and has drastically changed the way businesses operate.
Digitally-mature firms are required to have a firm grip on their data in order to grow their services and remain competitive, and one of the best ways to achieve this is by leveraging the data that they already have in the company unused.
Business intelligence means mining that data and turning it into actionable information that can be utilized by decision makers, be it to improve customer service or adjust inefficient warehouse floor plans; the applications of data are virtually endless for SMBs.
Even with its benefits, many SMBs still lag behind frontrunners in digital transformation. About one-third of organizations consider themselves ‘data-driven’, leaving room for many organizations to adopt the approach.
Businesses can gain and maintain a competitive advantage by utilizing advanced technology solutions like business intelligence. By leveraging modern tools that analyze your data, you can increase productivity, decrease unnecessary costs and uncover new ideas for your offerings.