Enterprises are loaded with a multiplicity of data about customers, prospects, business processes, supply chains, partners and competitors. This data is a gold mine of actionable intelligence and Pace Wisdom leverages this immensity of data with the right analytics solutions to convert it into data that improves revenue, increases profitability and maximizes operational efficiency.
We agree that even though BI tools have been around for many years now, and many consider the Business Intelligence landscape to have already matured. However, the BI market from Pace Wisdom’s perspective is constantly evolving allowing us to innovate through partnerships with clients to meet the ever-expanding analytics and strategic needs of businesses. Over the years, many BI tool styles have emerged to match the varied ways that business people need to analyze data. An understanding of BI tool categories and styles is needed in order to match your analytical needs with the appropriate tools
The implementation of Business Intelligence and Analytics technology into your organization will provide you with powerful insights, via the Web or in the palm of your hand with a Mobile device to make the right decisions at the right time quickly, transforming you and your organization into a well-oiled, data-driven machine. As the saying goes, data never lies!
Key executives are involved in making decisions that guide business direction and strategy. In the absence of business intelligence solutions, this decision making process often involves making a considerable amount of presumptions.
The ready availability of detailed reports and analysis helps executives make decisions based on well presented analytics and statistics pertaining to information like sales figures and market demand. Business intelligence eliminates this guesswork and presents new information like real-time production statistics and customer feedback for various product lines that is backed by hard data. Predictive Business intelligence techniques also allow for ‘what if’ analysis to observe the future impact of a decision.
Business intelligence tools continuously monitor large amounts of data generated by an organization and carefully analyse it for several performance metrics such as efficiency, sales figures and marketing costs related to the business, and we ensure that this happens in real time!
This helps keep top management informed about the status and performance of various critical components within the organization and the collaboration between business units. It also enables business executives to detect market opportunities and take advantage of them.
Business intelligence tools analyse sales figures and customer feedback to represent facts that provides your enterprise with insight about customer's preferences and needs. Customer information obtained from technology products can be sent back to a company's servers to be analysed to get an idea of how the customers are responding to the design and functions of a particular software product.
Products such as Google Chrome, Microsoft Windows and others are continuously monitored and updated to keep up with the demands of customers. Analysing this information helps your enterprise detect and leverage buying trends, needs and enables decisions that allow your enterprise to retain or grow the existing customer base.
If a business has a numerous products, BI can help detect customer touch points where a customer buys multiple products produced by the same company on an individual basis.
Such objectives provides your enterprise with new business opportunities to sell a group of products together as a single integrated package to retain and grow a particular customer base. Thus, by using business intelligence, opportunities, which were previously undetected, can be put used to maximize profits.
There are a few critical changes an organization should implement to facilitate easy adoption of BI solutions and to get a better ROI from their BI investment:
Operational Changes Business intelligence has transformed and will transform your business into highly efficient and profitable systems. The amount and the quality of data that is available within an organization plays a crucial role in the success of a BI project. Changes to your enterprise to aid the BI and analytics procedure include upgrading the legacy reporting techniques to modern ones, enforcing the use of a specific standard for reporting and data storage across the entire organization, providing and insisting on data access in every segment of business operations, and identifying the specific areas in which the business intelligence is needed.
A business intelligence tool should be integrated with effective usability support to be effective. Usability implies the ease with which users can access and add data to the system. When business intelligence and analytics tools are deployed within an enterprise, they should be able to improve the quality of business operations, made possible when employees, customers and other stakeholders of the company have an understandable interface through which they can add the necessary data to the business intelligence system. With the added support of Pace Wisdom’s experienced technology consultants in Dubai, an agile BI system can be successfully integrated into its core architecture.