Most of us know that the purpose of Business Intelligence is to turn raw data into usable, meaningful information to help organizations make faster, easier decisions. However, more and more CFOs and organizations are now realizing the substantial impact Business Intelligence can also have on the bottom line.
Read on or watch the video to discover the 4 largest improvements CFOs should expect from a solid Business Intelligence plan.
1. Reduced time spent on data entry- With Business Intelligence, the leg work is performed within the application and reports can be generated with the push of a button. This means no more time spent needlessly copying and pasting large amounts of data into complicated Excel sheets.
2. Readily Available Real-time Data - Business Intelligence provides CFOs with quick access to internal data. With this data readily available, organizations can more efficiently spend time analyzing the information instead of inputting the data, leading to more informed decisions which ultimately improves the bottom line.
3. Deeper Insight into customers- Business Intelligence enables you to discover patterns in customer behavior. You can learn which customers generate the most profit and how to find more like them, while avoiding those who aren’t as profitable.
4. Identifiable areas for cost cutting- By identifying areas where costs can be eliminated, Business Intelligence can help you obtain 100% Return on Investment. Business Intelligence can also provide insight into inventory, supply and demand, and production and distribution, identifying areas that may need improvement.
The importance of a quality Business Intelligence plan not only can Business Intelligence simplify the way you run your business, it can also save your organization money.
To learn more about Business Intelligence please visit BizTech's Business Intelligence webpages.
If you have any additional questions regarding your business intelligence plan, you can contact me directly at sgoldsmith@biztech.com.
