What is a business intelligence system?
Business intelligence system is:
- an application, that consists of dashboards, graphs, tables and reports, specially set up for easy operational and strategic analysis;
- an indispensable tool for making highly effective decisions;
- a reliable tool to increase management efficiency, reduce costs and increase revenues;
- access to complete and detailed information about the business, anywhere in one click.
Business intelligence system regularly collects data from all available sources in the organization and delivers the most important information correlated with the target to an authorized officer. Simultaneously, the system allows to display the data of lower level - even the source documents.
What is it for?
It is used to make real-time tracking of the status of the company and, if necessary, to respond to deviations from the norm or plan. Business intelligence systems can be compared with equipment for vehicle diagnostics: the car drives and everything seems to be fine, but testing of all systems can point out all the potential problems.
Who is it for?
Getting useful information from the source of the raw data is necessary for large businesses and corporations, as well as SMB-companies. Since the BI system is versatile, it can be used in various industries to address the widest range of applications.
Where does the system receive data from?
Business intelligence system is not a part of any solution, and not a substitute for any, already established system, but it can receive data from any source – from ERP, CRM and WMS-system of various vendors to Excel spreadsheets and written solutions.
How does it work?
The BI system gets connected to each of the existing company's IT systems and downloads into itself all the necessary information. Full download occurs only once, and then only the changes taking place are downloaded which provides instant output of the analysis.
Owners and managers as well as analysts, who are responsible for making the most important decisions, can obtain analytical data using business intelligence system.
Is it difficult to use the BI system?
The system interface is friendly and intuitive, special IT knowledge is not required.
Is it difficult to implement it?
The implementation process of the BI system does not involve any changes in the workflow or in the IT infrastructure. The implementation of ready-made industry solutions takes place in the shortest possible time with little or no breaks of employees from work.
What are the benefits of using Business Intelligence?
A number of benefits from the use of business intelligence is quite simple to calculate, because the result shows quickly and can be calculated in monetary terms. According to data research BARC, QlikView business intelligence systems have the following characteristics:
34%
increase in labor productivity
96%
growth in customer satisfaction
186%
return on investment
16%
revenue growth
23%
increase of cash flow
20%
lower operating costs