Business Intelligence Benefits – what is your BI Business Case?


Business Intelligence Benefits

Business Intelligence Benefits – the use of BI can lead to a number of beneficial outcomes for organisations, some of these could be sumarised as:

  • Providing insights and knowledge into large and complex data sets
  • Ability for improved Management Information and decision intelligence making
  • Allows the organisation to interrogate data that was previously too granular or large
  • Enables the organisation to make improvements to data quality as a result of the improved visibility of the data sets
  • Business Intelligence Benefits can be tangible and financial such as improved sales revenue, reduced operating costs all deriving from better information#

Business Intelligence Benefits

  • Business Intelligence can also in a wider sense reduce Total Cost of Ownership of IT systems by aggregating data in a data warehouse that might otherwise have been stored in a non aggregated (and larger data size)
  • Business Intelligence Benefits can derive from the techniques required to manage and control Business Intelligence such as improved data governance, data stewardship and control.
  • Benefits can be the ability to ensure relevant data compliance with regulatory areas such as GDPR compliance
  • BI lower can lower costs by dramatically reducing time employees spend on collecting data, creating reports, distribution, collaboration, and financial planning.
  • Business Intelligence software can improve productivity by enabling employees to focus on decision making rather than report production
  • BI can help elimiate manual tools such as Excel that are often prone to error and unreliable
  • Improved Organisational Effectiveness
  • Single version of the truth: single, centralised available version of the truth
  • Future Capability: BI can reduce costs and improve efficiency in other systems
  • Reduce resources and labour costs used for the collation, analysis and distribution of vital business data
  • Be aware of emerging crises: quality data = improved decision making
  • Improved Data Quality & Security Data Quality – BI can provide visibility across immense databases enabling proactive identification and correction of data issues.
  • Eliminate guesswork: Business intelligence can provide more accurate historical data, real-time updates, synthesis between departmental data stores, forecasting and trending; eliminating the need to guesstimate
  • Storage cost avoidance – by leveraging BI solutions as an “Operational Data Store” this can enable space savings to be gained from copies of non-production databases
  • reporting self sufficiency by eliminating the dependency on IT and other areas allowing the business more timely access to vital reports
    improved understanding of the underlying trends hidden in large data sets enabling the organisation to seize upon un-recognized business opportunities, sooner and with greater return
  • potential opportunities to syndicate and license data due to the easier availabity in understanble formats
  • provision of a single, consolidated reporting platform across an onrganisation that can be controlled and managed centrally and above all which is trusted.

BI Benefits

As shown in the diagram below, data stored in disparate systems can be drawn out to populate a BI system, where using specialised architecture and an intuitive presentation layer, the user would be able to design and draw out underlying trends, hot-spots, KPIs and other valuable aspects that lie hidden in the data itself. This is a key benefit of Business Intelligence solutions.

Business Intelligence Example