Accelerate your business growth with business intelligence
by Piyush Rakhecha in General
Making business decisions is never easy and many in the past have relied on human intuition rather than comprehensive analysis to take a decision. However, today the complexities of business have grown multifold and industry experts reject the thought of following only intuition to make the decisions. Accomplishing complex business objectives require powerful tools to support decision making and enable the executives to opt for the best choice among a range of alternatives. Despite the complexity, rational decisions can be made consistently when technology is combined with insight, experience and expertise.
What is Business Intelligence?
Business Intelligence (BI) is a blend of instruments, technologies, applications, and practices that help organizations in gathering, coordinating, investigating, and transforming crude information into keen and noteworthy business data. BI consists of the following key components:
- Data mining
- Analytical Processing
- Querying and reporting
The significance of Business Intelligence is to help the corporate chiefs, business supervisors, and other operational heads implement information driven business choices. Numerous organizations are utilizing BI for cost-cutting, recognizing better business openings, and spotting wasteful business measures.
How BI helps businesses accelerate growth?
Business knowledge has the intensity of transforming organizations, some of these aspects of BI are:
- Refining customer experience: Using the data collected around customer purchases, mode of purchasing, feedback on customer experience etc., organizations can use BI to provide an improved data driven customer experience.
- Decision making made smart: BI empowers organizations in key dynamics of decision making by effectively organizing and analyzing the company’s data. With organizations following layered architecture to effectively manage business, having a BI framework will ensure a unified area where all layers meet. And based on the data assessed at each layer will help you make better business choices.
- Enhanced Productivity: While working on a project, going through multiple resources is tedious and time consuming. Using BI to structure automated data collection into a centralized repository, it is easy for employees at any level, with the right authority, to access and utilize the data. This flexibility enables higher productivity and ease of access.
If you are interested in making the most of the data, your organization generates and get ahead of your competition then our team at Nuage can help you. Our data experts are seasoned with experience of working with numerous clients on developing their data model. Want to know more how we can help you, contact us at info@nuagebiz.tech