3 Reasons Why BI Is The Ultimate Tool For You
“74% of Employees feel unhappy or overwhelmed when working with data”
“97% of company data collected goes unused”
“Only 26.5% of enterprises had created data-driven organizations”
I am pretty sure by now we all know the importance of data, yet why are most organizations not maximizing its usage? The answer? To filter and analyze data takes time, effort and skill to pull off. I can recall my first experience working with a large company's data was overwhelming to say the least! That is the reason why many people turn to Business Intelligence (BI) to ease this process. However, what many may not know is how BI eases this process and the power of BI to businesses! So let’s take a look and find out why BI is the ultimate tool for you in this era!
3 Reasons Why BI Is The Ultimate Tool For You
Less is more, but more is still more
Sharp, Straight To The Point and highly customizable
Less effort, less time but higher results!
1. Less is more, but more is still more
Ever try to analyze a collection of 5,000 customer data through an excel file? If you have then you would understand the nightmarish experience of filtering through the sea of data to look for the data you truly want! Well, that’s what BI does, a good BI dashboard does not bombard you with tons of data and information, rather it shows minimal data to prevent the overwhelming feeling we often feel when it comes to data (or math). A friend of mine who decided to take over the family business wanted to turn his traditional business into one that takes into account customer trends and popular store products.
Although it was easy for the first 30 or so customer data, it became increasingly difficult to look and sift through all this data. Furthermore, these data require skill and effort to make it presentable and easily understandable to the human eye. To illustrate, my friend would spend 1-2 hours sifting through data, analyzing and experimenting with how to show the data in a presentable manner. With BI dashboard, all it takes is a short 10 - 20 second look and you would understand how your business is doing!
2. Sharp And Straight To The Point And Highly Customizable
Besides its simple and extremely user-friendly way of portraying data, BI dashboards are customizable to show you relevant Objectives and Key Results (OKR) to your business! Rather than having to sift through data manually, you can select which OKR you would like to show yet need not worry the data presented are too simplified. Want to see which product is doing well visually? Done! Wish to see the percentage differences between this month and last month's customer traffic? Granted! Any and all data can be presented in a manner that suits you and your business’ needs!
3. Less Effort, Less Time But Better Results!
It’s pretty well established that BI saves us time and effort to scroll through data and look for the information we want. However it is not as simple as that, what BI offers is real-time reporting! Everytime new data is pumped in, you do not need to filter through, analyze and wait for the results. BI’s real-time reporting will give you the latest trends and insights straight away for you to make faster and more accurate decisions. Don’t believe me? Based on Deloitte, companies in which the CEO makes data-driven decisions are 77% more likely to succeed and 59% more likely to gain insights from the analytics they are monitoring! The time we saved up gives us more time to prepare and strategize to tackle current and upcoming trends without being too late!
All in all, these are only 3 reasons why Business Intelligence is the ultimate tool for you (p.s. There are a lot more benefits!). Imagine the amount of time you would lose if you do not have a BI dashboard, not to mention losing your competitive edge against your competitors due to outdated data! Interested to know more about the presentation of BI reports on your shop’s dashboard? Fret not! Inquire now or check out our solutions to take an in-depth look at how you can adopt BI for your business today!