If you’re like most companies, your reports may be getting out of hand without your realizing it. A new project begins, so you create a new report to track its progress. The result is redundant reports and too many of them.
At BIO Analytics Corp. we recently worked with a large organization that had over 400 reports in house. Users were at their wits’ end. Despite the large amount of data, we combed through the reports to find similarities and consistencies. The end result? More than half of the reports were eliminated because most of the reports had the same data with different logic or different presentation. Using business intelligence (BI), we were able to see the inconsistencies that were bogging down the users and wasting a lot of their time.
Let’s take a look at three benefits of implementing business intelligence in an organization:
- Consistent Terminology
Lots of people in your company probably request lots of reports. Different departments may use different names for the same data, may define the same data differently, or may use different calculations to compute derived data. Using BI throughout the organization creates an environment where terminology and data definitions become standardized, eliminating confusion and increasing productivity. - Consistent Data Pulls
With business intelligence in place, you can collect data from multiple systems which consolidates all points of business and ultimately keeps the data consistent throughout the organization, eliminating redundancy and saving time. Additionally, because there is a structure in place within the BI application, everyone is using the same consolidated entities such as hierarchies, regions, and account groupings. This means that when three managers are discussing “Western Region first quarter net sales of product group A,” the data they each pull from separate reports will be the same. - Consistent Analysis
With business intelligence, you can see how the company is doing through consistent operational attributes. You can easily compare data to other industries to see if you’re doing well in some industries and not others. Your people are able to look at the information differently and in-depth, resulting in optimal business decisions.
You may have noticed that “consistent” is noted consistently above. Business Intelligence provides consistent, reliable data for business insights and decision making, which results in business value you cannot overlook.
By Sandi Richards Forman of BIO Analytics, Corp., a Business Intelligence (BI) Microsoft Dynamics ISV
BIO Analytics Corp. provides business intelligence software and services for Microsoft Dynamics. Visit our website to learn more and to view demos.
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