In an era where information is everywhere, especially online, it is sometimes difficult to process and assimilate the large amounts of data that are generated every day. Faced with this difficulty, the role of Business Intelligence stands out.
In last week's blog post we said that the importance of BI in the perception of excellence of a company was one of our main conclusions in 2020. So we thought that we should approach the subject in greater depth.
How can Business Intelligence benefit my business?
We'll get there. First, it is essential that we distinguish between data and information.
Although at first they seem the same thing, data and information are different concepts. The data is something raw. Something that is collected in order to form a database. For it to become information, a fundamental element is needed: the treatment of data. Only through treatment, we can obtain simple, clear and easy to read information.
In this task, Business Intelligence becomes a strong ally.
Business Intelligence is nothing less than a technological process in which raw data is treated using different tools and software and, later, converted into useful information that helps companies work. In other words, it collects, organizes, processes and monitors a large amount of data, providing information to support business management.
This work is naturally done according to a specific goal. Let's see the following example: if my goal is to analyze the performance of Marketing in a company, BI will make available for analysis information such as sales of a product, customer satisfaction, website performance, among others.
So, what are the benefits that BI brings to your company?
Facilitates the strategic decision process
The main benefit of using these systems is, without a doubt, the facilitation of decision making. Through BI, professionals can access a centralized system of information related to their business, which can be extracted and consulted for a simpler and faster decision making.
Quick trend identification
By assisting in the collection and processing of information, BI also makes it easier to quickly identify trends and patterns that affect the business. Recognition of trends is essential to understand which actions and strategies work and which do not, and to carry out more precise, effective planning and in the right direction. Through this, it is also possible to identify new business opportunities.
Possibility to carry out more complete and in-depth analyzes
Another advantage of BI is the ability to facilitate access to business reports, metrics and important information. For example, for those who work in the area of Digital Marketing, BI is very useful in providing analysis and reports on the performance of social media and websites. Without a good analysis of the current state, progress is impossible.
Greater perception of a company's excellence and greater customer satisfaction
BI helps companies to quickly measure consumer behavior and satisfaction, allowing the identification of problems and the optimization of the company's service according to the needs of customers. In general, BI helps in the management and organization of a company's work, contributing to a better external perception of its quality.
The recent generation of consumers was born online. The challenge now arises for companies that increasingly need to find ways to manage the huge amount of data produced by this generation.