What Is Business Intelligence And How Can It Benefit My Company?

What Is Business Intelligence And How Can It Benefit My Company?
 
 
The terms Business Intelligence are often heard rarely understood. There is the general understanding that it is to do with management of data and so most business owners often believe that with a functioning IT system there is no need for Business Intelligence tools. However, BI, is a lot more than just management of data. It is a set of tools, products used to support the collection, analysis, presentation and dissemination of business information.

With BI, the words business analytics often follow too. This is the continuous exploration of past business performance to gain knowledge and drive business planning. And here at Pathways International, our goal is to provide BI tools that enable analytics and eventually assist your organization in getting a higher bottom line.

If you googled, BI, you would realize that it appears to be a bit of an extensive undertaking. SMEs that are aware of BI may then take it upon themselves to use estimation or their perception of business stability to make decisions instead. But, BI doesn’t have to be expensive with large hardware demands. Pathways offers web based BI solutions (by utilizing cloud computing) which would allow your administration to obtain crucial business information in a cheap, flexible, simple way that provides relevant functionality.

So what would Pathways do for your organization? The primary BI services offered are data integration, data warehousing, data analytics and reporting/ visualization. The first step in BI application is data integration. This is the combining of different and disparate sources of data. After this, the data is stored in a data warehouse. The data stored here is historical and non-volatile. It remains unchanged and is only retrievable from desired historical periods.

With consistent and accurate data all available within one integrated source, analytics can be carried out. This is the methodical exploration of the data. It is done to identify patterns and correlations within the data. 

Reports are generated after an analysis are carried out. Our tools enable you to view them by visualizing those reports using info-graphics such as charts, graphs. These platforms would give you access to your processed data.

After the implementation of BI tools, you will be able to witness a significant improvement for your organization in any of the following ways.

For starters, once a BI system is in place, management is able to see detailed data on all aspects of the business. Individualized reports can allow for fact based decision making. Reports also show trends in sales, customer preference, untouched potential markets and this provides an avenue for improvement in sales.

The system would show you areas of redundancy and wastage by analyzing transactions between departments or branches thus pointing out overlapping or inefficiency. You would be able to compare strengths and weaknesses against your competitors, identify risks, reasons for customer dissatisfaction. 

This system eliminates approximation and guesswork. Gives an accurate depiction of stocks and keeps better track of inventory. You will have quicker responses to any business questions you have.Generally, you will streamline operations, gain competitive advantage and essentially give management greater strategic insight for their decision making.

Pathways International’s team of experts will provide a system that will allow you to experience all these benefits. As an organization, you will be able to recognize opportunities and eventually be able to grow your company to where your vision wants to take you- based on all the data availed to you. Try Pathways International today and lead with your data. You will not regret it.

 


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