For the body, two legs are required for walking, balancing, running, and everything else associated with the legs. The hand can operate without a finger or two…but it’s sure to make day to day tasks much harder to accomplish when different aspects are out of sync or missing altogether.
The same can be said for the operations in a business. Without the presence of one operation, the whole might still work, but it means that other departments are forced to pick up the slack or take on the weight of that part that it wasn’t designed to take on.
One such operation of business that is crucial to know about and use correctly is the realm of business intelligence. What is it? Why is it important? How do you know which resource you might need? Here’s the answer:
What is it?
The phrase business intelligence is a general term that is used to describe software applications that compute and make sense of a business’s raw information, or data. Operations can be as vast as online analytical processing, to querying, to reporting.
Before the days of information technology software, companies would have to pay individuals to do the same thing, and to be honest, humans make mistakes. Computers don’t. This is why the presence of business intelligence applications are so crucial to the healthy operation of a corporate entity.
It Saves Valuable Resources
Though there are a lot of ways to cut cost in business, business intelligence is the way people in charge find out what is receiving too much help, what isn’t bringing in money, and what needs to be cut or refined in operation. Everyone knows how costly a bad decision can be. It’s even more costly on a corporate level where decisions can result in the loss or making of millions of dollars in a moment.
BI is used to improve decision making. This saves time and money that would otherwise be spent on costly mistakes. BI also saves money by informing those in charge where money is being spent. If the stock room is full, the operations manager knows to not waste resources buying more product.
It’s all a delicate balance. The body can’t operate succinctly when certain parts are being neglected or misused. BI is your path to success. It essentially does the hard things for you. It’s a oracle in the world of business that can’t be left unseen. The fate of your company lies in the hands of business intelligence-so use it wisely.