Benefits of introducing BI in your company

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A broad range of applications for BI has helped companies rack up impressive ROI figures. Business intelligence has been used to identify cost-cutting ideas, uncover business opportunities, roll ERP data into accessible reports, react quickly to retail demand and optimise prices.
Besides making data accessible, BI software can give companies more leverage during negotiations by making it easier to quantify the value of relationships with suppliers and customers.Within the walls of the enterprise, there are plenty of opportunities to save money by optimising business processes and focusing decisions. BI yields significant ROI when it sheds light on business bloopers. For example, employees of the city of Albuquerque used BI software to identify opportunities to cut mobile phone usage, overtime and other operating expenses, saving the city $US2 million during three years. Likewise, with the help of BI tools, Toyota realised it had been double-paying its shippers to the tune of $US812,000 in 2000. Companies that use BI to uncover flawed business processes are in a much better position to successfully compete than companies that use BI merely to monitor what's happening.

More tips for getting BI right

  •  Analyse how executives make decisions.
  •  Consider what information executives need in order to facilitate quick, accurate decisions.
  •  Pay attention to data quality.
  •  Devise performance metrics that are most relevant to the business.
     Provide the context that influences performance metrics.

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