The top 7 benefits of business intelligence (BI)

Business intelligence, or BI, processes help you organize your data so it can be easily accessed and analyzed. Decision-makers can then dig in and get the information they need quickly, empowering them to make informed decisions. But improved decision-making is just one benefit of business intelligence. Let’s review the most practical benefits of BI and how organizations are using technology to achieve their goals.

What is BI?

Business intelligence refers to an infrastructure that collects and analyzes large amounts of data to give organizations a clear and comprehensive picture of their data. The goal of a BI system is to give stakeholders a clear and customized view of their data to empower them to make data-driven decisions. Many BI systems are intuitive to use, highly customizable, and self-service. BI includes processes such as data mining, infrastructure, visualization, analytics, and more. 

Learn more about BI.

Benefits of using BI systems

Business intelligence is more than just software. It’s a holistic initiative to use data in day-to-day operations. The seven benefits of BI, listed below, translate into real-world successes that showcase BI in action.

Business intelligence benefits: 

  • Faster analysis, intuitive dashboards
  • Increased organizational efficiency
  • Data-driven business decisions
  • Improved customer experience
  • Improved employee satisfaction
  • Trusted and governed data
  • Increased competitive advantage

 

Increased competitive advantage

Organizations can be more competitive when they know the market and their performance within it. Rosenblatt Securities analyzed data from hundreds of sources to see the best possible time to enter and exit the market and position itself strategically. With BI, businesses can keep up with industry changes, monitor seasonal changes in the market, and anticipate customer needs.

Roadblocks to implementing BI

To successfully implement and scale BI within an organization, leaders need to articulate a strategy, build a roadmap, and allocate resources. Implementing any enterprise system is a project itself, and business intelligence systems may require several months before there’s measurable ROI. However, many organizations find success by adopting innovative ways to use BI to improve profits and reduce operating costs, and pledging a long-term commitment to creating a data culture. That’s why we created Tableau Blueprint. You and your organization can use this methodology to become a data-driven organization and start creating a successful data culture today.