Why You Should Invest In BI Even If You Already Use Excel
Excel is the most commonly used tool for data manipulation and analysis.You will find that most companies are unwilling to incorporate Business Intelligence because they already have Office Suite. Excel comes as “free” and most office managers wouldn’t want to invest in a service which they seem to already have.
However, relying solely on Excel presents the following set of problems:
• Strategic decision making isn’t supported.
• Excel proficiency is needed and the average business owner may be lacking in it.
• Spreadsheets are latent and may lack in accuracy.
Thankfully Business Intelligence tools recognize the popularity of Excel and provide integration. Tools like Tableau and Power BI seamlessly link solutions and make it easy for experts and regular users to be able to benefit.
That said, BI has the following advantages over sole use of Excel.
Customization– BI reporting allows users to change suit needs. Each operational level can be modified to present the most useful information.
Detailed– The information on BI reports and dashboards shows more details beyond summary information. Specific details can be sought after using selected parameters or metrics.
Trending Visibility– Watching data in real time or near real time allows for patterns to become visible.
Error Proofing – Owing to the fact that trends can be identified, it is possible to identify issues that could be problematic and make decisions to fix them.
Constant Data Flow – Business intelligence reports show accurate reflection of current data and don’t have to wait over periods of time for information.
Redeemable Reports – Even in the event of misplaced or lost information, BI tools are able to store information from multiple sources in one location. If data is lost on premise, it can be easily imported easily and save within the database in use. This allows users to build comprehensive reports.
Forecasting – BI allows companies to perform predictive analytics where they can predict the future based on past behavior. This also allows agility in the event of uncertain business periods.
Clarity – Unlike Excel spreadsheets, BI reports are aesthetically pleasing. BI tools focus on delivering clear reports using simple visual representations that can present the data in a simple manner.
Business Intelligence reporting facilitates data driven decision making. Rather than relying on guesstimation from data that may not be accurate or consistent from spreadsheets.
Investing in business intelligence, even though you already rely on Excel, is a step in the right direction if you want your business to shape growth strategies and increase efficiency and effectiveness within your company.
Contact Pathways International today and lead with your data.