Why does business process matter?
It’s important to know how your business is doing now but more importantly how you will perform in the future. Business intelligence matters because when you left your business unsystematized and unorganized, poor business processes can lead to destruction. People can see only one part of a process at the individual stage, and very few can find out and see the full aspects of a potential process, where it starts and ends, the key data needed, and where potential impediments.
The failure to properly manage business processes and systems leads to chaos, which results to one or more of these scenarios:
- Time wasted
- More errors
- Increased blame
- Lack of data
- Demoralized employees
What is Business Intelligence?
Applying BI organizations can improve their processes and keep all aspects of operations running optimally. Business intelligence answers the questions you never thought you had about your organization. It uses raw data and transforms it into actionable business insight. So you can make calculated decisions that improve your business.
For example you can analyze sales and marketing information that can assist with strategic planning you will get answers to questions like, which are our top three profitable locations, what is the customer affinity to our products, what are our top and bottom selling products.
BI is not only meant for large organizations but small to medium sized organizations can benefit from it. It’s not all about technology – business intelligence involves people processes tools and applications that help you organize and enable access to data and analyze information. BI helps you make informed. Strategic, tactical and operational decisions. Defining organizational goals objectives and policies.
When not using BI the majority of organizations spend most of their time on tasks that provide little to no value to their organization, however when you adopt BI you would spend the majority of time on high-value tasks that will enhance your business. BI enables you to make informed decisions, monitor business performance and increase revenues.
Related Reading: Best practices Data Warehouse