Business Intelligence (BI) tools allow business leaders to stay informed of the inner working of their companies so that the decisions they make have the best possible outcomes for business growth. According to Gartner, Business Intelligence tools include the applications, infrastructure and best practices that enable a business to analyze data to improve decisions.
Having BI tools can help organizations increase their competitive advantage. By centralizing data, business leaders are able to spot trends, uncover inefficiencies, and gain a deeper understanding of their customers. According to ComputerWeekly contributors Martha Bennett and Boris Evelson, as more pressure is placed on businesses to make the shift to the digital and mobile realms, data and information becomes ever more important.
Below are three considerations when developing BI initiatives for your organization:
- Business Intelligence initiatives should include key organizational stakeholders. Although BI can be technical by nature, it's important to remember that BI is a business strategy tool and needs to be driven at the top. Without Executive-level leadership to support the BI initiative, the project will most likely fail.
- Know your BI deliverables. Discuss what processes you would like to improve, revenue targets, or market growth. Qualifying and quantifying the Business Intelligence deliverables will help determine which data-sets are needed to reach your goals.
- Choose the right partner. Effective Business Intelligence tools require time, money and, most importantly, information. In order to get the best return on investment, you need a partner that understands how business processes work and what questions to ask that help drive results.
Pinnacle, An Advanced Imaging Solutions Company can help your organization expand access to business intelligence to support data-driven decision making. With BI tools built by Microsoft and customized to fit your business needs, you'll be able to leverage powerful analysis capabilities from a centralized dashboard. Contact a Pinnacle representative today to get started.