Key Benefits of Business Intelligence Software

  • 19 June 2020
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Key Benefits of Business Intelligence Software

There is a constant need to find hidden value in your business and transform data into meaningful information from the ever-rising data deluge. The software that unlocks a greater level of agility and uncovers new revenue streams and much more. Businesses that embrace BI software can analyze everything on their current sales figures, customer buying habits, the financial health of a business, or escalating costs. 

Precisely, organizations can illuminate intelligence outcomes with the data such as- 

  • Benefit from real-time and accurate decision-making 
  • Able to predict better in dynamic and volatile markets 
  • Forecast sales and profits
  • Have a deeper understanding of customer preferences and behavior 
  • Increase up-selling and cross-selling opportunities 
  • Experience greater fidelity in managing risk  
  • Avoid instances of misinterpretation 
  • Valuable insight into how the business could operate more efficiently

Let us dive deeper into the benefits of a business intelligence software– 

1. Understand the matrix of what, why, when and forecast better  

Often a business operates multiple systems to process and store data, which means they have huge data volumes that are kept in silos, mismatched, and inconsistent. However, by using Tableau business intelligence software, organizations soon begin to see a big picture of all vital matrix and predict better. 

2. Focus on improving the financial health of a business 

Many organizations struggle with manual processes, or with processes that are only partially automated. Business intelligence software can help businesses to improve the overall health of their finance functions. It helps leaders to drill down into cash flow, monitor expenses, and understand your financial data better.  

3. Gain a real picture of your business 

Business intelligence software such as Tableau empowers C-level executives and senior management to gain a 360-degree view of their business. The software enables them to review detailed summaries, analyze sales trends, forecast better, and make critical business decisions with confidence.  

4. Offer an instant solution to the problem

Want to dive deeper into the intricacy of inventory management? Eager to know about the reason for sales faltering? Address your business concerns faster with BI software. Drill down functionality helps you to ask vital questions from data and examine it without the need of spec specialized team in a proper time frame.

5. Analyze data on the fly  

When you can analyze data in real-time, you can be updated all time. You can monitor inventory levels, avoid instances of customer dissatisfaction, see performance indicators, evaluate sales team performance, and draw conclusions faster rather than being absolved in spreadsheets and deriving insights from the traditional BI tool. The advanced business intelligence software makes it all easier.  

6. No hassle of set up and long deployment time 

Skip the hassle of setup time and deploying with Tableau. Get up and running faster easily. Seamlessly add users and buy licenses as business need evolves. There are no upfront costs, and the software can be implemented quickly, scaled easily, and can be accessed on the move. 

Despite all the benefits of business intelligence, some organizations are still wondering to embark on the journey of BI. The wise call is to consult Uneecops as your BI implementation partner and see your business growing at varied speed and in multiple directions. The sizeable volume of your enterprise information remains untapped so the viable call is to get the BI software in place to give all business users one view of trustworthy data. 

Nidhi Batra

About the author

Nidhi Batra is a marketing and brand communication professional with 10 years of experience working in the dynamic B2B marketing environment. She strategizes, writes, reviews a variety of content for demand generation and sales support activities. Having a Master’s in English from Delhi University, she knows how to navigate her readers on insightful journeys with her SAP published blogs and thought leadership content.