Can your company ignore Business Intelligence's massive growth?
Business Intelligence seems to be the current big catch phrase for how companies should be managing their data and the term has saturated the internet in recent years – but what does it mean for your business?
Basically, Business Intelligence (BI) is a technology-driven way to analyse data and present translatable information to help make informed business decisions.
IDC have forecast double-digit growth for the Worldwide Big Data and Business Analytics (BI) Market through to 2020.
"The availability of data, a new generation of technology, and a cultural shift toward data-driven decision making continue to drive demand for big data and analytics technology and services. This market is forecast to grow 11.3% in 2016 after revenues reached $122 billion worldwide in 2015 and is expected to continue at a compound annual growth rate of 11.7% through 2020."by Dan Vesset, Group Vice President of Analytics and Information Management
What Business Intelligence technologies mean for all businesses is the ability to take raw data in any format and analyse and process this information to be easily interpreted and reported. Giving your business a competitive edge and a unique opportunity to translate these results into your strategy, plan and performance.
Individually BI tools give users a full self-service option to see the data and the reports that are most relevant whilst also providing companywide results.
Business Intelligence is not just for your Finance team; imagine these departments within your business and how BI can help:
SALES - Nail your quota with better insights into pipeline Rapidly analyse movements within the pipeline and identify where, why, and how changes occur. Leverage analytics to spot opportunities and monitor reps with moving target dates. Gain visibility to the entire pipeline, remove bottlenecks and increase rep performance.
MARKETING - Gain a trusted view of marketing attribution Measure the return on marketing investment, and identify the channels that have higher conversions. Analyze attribution by single- and multi-touch to determine the right campaign mix in respect to revenue.
OPERATIONS - Understand the key performance impact across entire processes
You can bring together disparate data from edge operations, finance, and other core functions in a virtual view to gain an end-to-end overview of key processes.Then align this data in a contextual view for business users and analysts so they can browse, review, and explore ways to improve key business functions or to streamline operating costs.
Business Intelligence and data analytics are booming and provide an analysis and transparency over data that has rarely been available particularly outside of big business. BI tools are readily obtainable to help all businesses analyse, harness and manipulate your data.
OpusXenta breaks traditional BI paradigms of builders and viewers, by turning all consumers of information into producers of intelligence. We blur the lines between BI dashboards and discovery and create an adaptive user experience that adapts to modern work styles.
Rapidly deploy business intelligence (BI) solutions that meet the specific needs of anyone and everyone who works with data across your enterprise. Use your data to make effective business decisions that drive productivity, profitability and customer service.