Business intelligence, or BI for short, is a technology-supported process for the systematic analysis of corporate data in electronic form. The information obtained supports management, executives and end users in making informed, operational or strategic decisions that serve to achieve corporate goals.
BI encompasses a variety of applications, methods and tools for data mining, retrieval and analysis. Thus, the insights gained can be clearly visualised in the form of diagrams, dashboards or other infographics.
With the help of BI systems, decisions are accelerated and improved, which has a positive impact on internal business processes and operational efficiency.
In addition, business intelligence can help to identify and solve business problems at an early stage. In general, management decisions become more informed and forward-looking through the use of BI.
BI is particularly important for the areas of controlling and finance. However, managers and employees are also making more and more use of the advantages of business intelligence tools. This is because so-called self-service BI enables employees to access company data and create reports even without support from the IT department.
In this way, numerous processes can be checked and interesting questions clarified, for example: How much time do certain work steps take? Can the process duration still be optimised? Are there departments with longer or more frequent downtimes than the company average and what could be the reasons for this? Is there an office/department where the work is of a very high quality and can such a constellation be built up in other areas?
With the help of the evaluation of company data, the processes of individual or several departments can be optimised and thus the efficiency of the entire company can be increased. Therefore, a comprehensive BI evaluation is a must for companies from an economic point of view.
Feel free to contact us!