If you’ve never had a business intelligence (BI) software tool before, you might be wondering why you might need one. It’s all about information and how to present it. The great thing about the constant presence of technology in business now is that we have an abundance of data. But, that same positive can become a negative when that data becomes too big or overwhelming to be useful.
That’s where BI comes it. This software harnesses the power of data within an organization, providing a better way to sort, compare, and review data for smarter decisions. Companies adopting business intelligence solutions can turn business data into insights and action. These insights can help companies make strategic business decisions that increase productivity, improve profits, and enhance growth.
Apply BI for Digital Literacy
There are many reasons why companies choose business intelligence solutions. If you’re contemplating BI software for your business, you may be wondering if it’s worth the time, effort, and expense to add it to your existing software suite.
BI tools are what give businesses the opportunity to improve their digital literacy, to take all that data they are constantly receiving and arrange it into graphs and visual charts. To more simply state it: BI enables businesses to arrange data in ways that are digestible and actionable.
Clearly, the benefits are far more than just a screen of colorful graphs and charts:
- The improved planning and analysis can be used to tighten processes, focus business operations, and use data to drive decision making.
- More accurate data means better decisions. Accuracy also improves confidence in business forecasting. When you know that you can rely on your data, you can make better guesses about what the future of your business holds.
- Improvements in the sales forecasting process also help companies with budgeting, marketing, and more. The more accurately you can forecast sales, the better you can plan your entire company budget.
- And, of course, improvements made to product offerings and prices aligned with the marketplace can help you sell more, which in turn improves revenues.
As you can see, adding business intelligence software to your company creates a positive ripple effect that spreads to all parts of the company. It’s not just about improving access to the data in your firm. It’s about using that data the right way to improve profitability.
Connect BI to your ERP today
BI tools work as centralized hubs to gather information from various other systems such as your CRM and your ERP to populate the appropriate graphs and charts. Whether this is your first time implementing a BI tool, or you’re old hat at it, let Accounting Systems Incorporated (ASI) help you connect your ERP to the right BI solutions. From standard connections to unique custom installs, ASI is with you through the entire process. Learn more about our solutions here, or call us today at 803-252-6154.