The intention of Business Intelligence in any business is to simplify the process of finding and analyzing of critical information, and assist the business managers, corporate executives as well as other functional managers in making result-oriented business decisions.
In addition, new organizations use BI to discover business opportunities, reduce costs, and identify inefficient business procedures that are full-grown for re-engineering.
With BI, business team members at all levels will have a better understanding of the issues and challenges they are facing and offer them the opportunity to work together to look for lasting productive solutions that will move the company to the desired greater height.
Why Companies Use BI?
Now that you know the intention of BI in an organization, you also need to be aware of its main advantages or benefits.
Some of the possible advantages of business intelligence programs are:
- It gives users the power of knowledge that will eventually transform the way you run your business;
- Accelerates and improves decision making;
- Optimizes the internal business processes;
- Increases operational efficiency;
- Drives new revenues;
- Gains competitive benefits over business rivals;
- Identifies the market trends;
- Identifies business issues that need to be addressed.
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