What are the Importance of investing in Business Intelligence and analytics?

 


Business Intelligence and analytics is the reliable answer to position a company in its respective field of activity, whatever the segment in which it operates. It works as a kind of “map”, safely driving a business towards its goals. Do you want to know how to apply this strategy in your daily life?  So, read on and discover how smart businesses thrive in their activities.


What is business intelligence?


Business Intelligence, by definition, is the set of measures, techniques and tools used for decision making in a productive activity. After all, intelligence is synonymous with dexterity, discernment and lucidity.  Therefore, companies that are guided in this way tend to perceive more expressive results. But the advantages go beyond, as we will now highlight.


Why should a company invest in business intelligence?


Whatever your niche, one thing is certain: by investing in Business Intelligence and analytics, your company puts itself in a better position with customers and competitors. This is a fundamental investment for the success of a business, as it allows you to overcome challenges and offer products and services with greater acceptance. There are also many other good reasons to develop strategy in your company. 


Improve analysis accuracy


Depending on the industry, it can be challenging to do market analysis, even with a lot of data available. For example, how do you find the right audience for inventory management software, as well as predictable sales processes for a product that requires high specialization in some cases? In this respect, the more developed the Business Intelligence, the more accurate its analysis will be.


Increase productivity


Being smart in business means knowing what, how, when, where and why to do it. It is to light up paths that were previously occupied by darkness and thus prevented people from moving forward. By using intelligence to guide activities, teams are able to produce more, as they will have much greater clarity about their own tasks and roles.


Optimize resources


Decisions made at random or based on guesswork are risky because, in the end, they can only serve to throw money away. With intelligence applied to business, your company will be able to draw up leaner budgets that will only allocate the resources that are really necessary for an action.


Increase the scope of actions


Imagine that your goal is to make the brand known in a certain region. How to do this, considering the limitations in terms of people, materials and resources? The answer lies in Business Intelligence and analytics, which has always been the best alternative to help companies do more with less.


Make better decisions


It is common to associate Business Intelligence with decision-making processes. And it's not by chance, since it's the foundation on which all business resolutions must be grounded.


Marketing


Another area that uses this technique to guide its actions is marketing, which is dependent on sales. A practical example of the application of Business Intelligence in this segment is when a company uses analytical solutions to define strategies for production and dissemination of content on the web.

1 Comments

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