business intelligence

Business intelligence importance

Although business intelligence involves complex processes, it can provide accurate statistics on the performance of companies in a short period of time. Therefore, managers can use this data to make big decisions. If a company wants to manually check its profitability and performance in various fields without using business intelligence. It takes a lot of manpower and a lot of time to do that. Of course, they also have only limited information, including the amount of profit in the last year, or the number of customers and things like that. In the manual survey method, companies obtain trivial information that will not be of much benefit to them. Business intelligence considers all the various processes, including sales, time and date, environmental and cultural factors, strengths and weaknesses, and dozens more, and finally interprets this information in a complete report. For example, it tells a company what days of the year or at what hours, what customers buy, or which area people like the most, or which product is not popular in certain cities. . All of this data helps the management team decide which products to invest in at what times of the year and in which areas. Potential benefits of business intelligence include: speeding up and improving decision-making, improving internal business processes, increasing operational efficiency, increasing revenue, gaining more competitive options, finding business problems, and improving business market trends ... The BI system can supply its data from existing data or data in production. This data can include old information stored in the data warehouse as well as new data collected from source systems.