Seven benefits of using Business Intelligence in your business -
08-29-2010
, 08:38 AM
Business Intelligence (BI) refers to a broad range of computer
software applications and tools used to gather, store, collate,
organize, report, analyze and present data in a range of formats to
assist with business decisions.
BI applications include such functions as online analytical processing
(OLAP), dashboards, query and reporting, statistical analysis and data
mining.
Business Intelligence solutions can be used to measure a range of key
business metrics, from sales revenue, product sales and departmental
costs and supply chain metrics, to the geographical spread of customer-
base. Data stored in transactional systems or data warehouses can be
analyzed and dissected to create reports on past and current business
performance as well as predict future business trends and patterns to
enable accurate business goals to be set and accurately tracked in a
timely manner.
As it can be clearly seen, there are many possible reasons why access
to quality BI can boost business performance.
Here are seven. BI help business leaders:
1. Improve operational efficiency and effectiveness leading to reduced
costs and increased revenues
2. Detect marketplace opportunities
3. Segment your customer base more accurately to assist with sales and
marketing strategy
4. Access timely and reliable business data that allows management to
make quick business decision to improve productivity and competitive
advantage
5. Keep key team members up-to-date regarding progress towards
business objectives and goals with benchmarking and data projection
capabilities
6. Improve knowledge sharing throughout your company to support
collaboration and cohesion
7. Develop a greater understanding of customer needs and the customer
decision making process
BI can help your business gain sustainable competitive advantage.
A 1996 Gartner Group report accurately predicted the importance of
good BI to successful business operation in the digital age:
“The key to thriving in a competitive marketplace is staying ahead of
the competition. Making sound business decisions based on accurate
and current information takes more than intuition. Data analysis,
reporting, and query tools can help business users wade through a sea
of data to synthesize valuable information from it - today these tools
collectively fall into a category called Business Intelligence.”
BI solutions like Yellowfin are highly intuitive, cost effective and
entirely Web-based, making them easy to integrate into existing
technical environments to minimize impact on existing infrastructure.
Web-based BI applications are also easy for executives of all business
backgrounds to use. Anyone comfortable using a web browser can
quickly become adept at viewing and analyzing data, creating their own
reports, and integrating the benefits of BI analytics and reporting
into their routine business dealings.
About Yellowfin
Yellowfin is passionate about making Business Intelligence easy.
Recently recognized among 25 rising companies that CIOs must know
about, Yellowfin is a leading web-based BI solution that can be easily
integrated into any third-party application or delivered as a stand-
alone enterprise platform.
For further information please contact:
Paul Stubbs
Pre-Sales Manager, Yellowfin
Direct line: +61 3 9090 0455
Email: paul.stubbs (AT) yellowfin (DOT) bi
www.yellowfinbi.com
More Information
In-Memory Brochure
http://yellowfin.com.au/Document.i4?DocumentId=104877
In-Memory Whitepaper
http://yellowfin.com.au/Document.i4?DocumentId=104879
Location Intelligence
http://yellowfin.bi/Document.i4?DocumentId=102780
Mobile BI
http://www.yellowfinbi.com/Document.i4?DocumentId=99556
Case Study
http://www.yellowfinbi.com/Document....umentId=103521
Video
http://www.youtube.com/user/YellowfinTeam |