Looking to explore the benefits of business intelligence (BI) software, but not sure how to get the journey started?
What is Business Intelligence?
Business Intelligence can be described as a software solution primarily designed to publish data on management reports and executive dashboards.
The business intelligence maturity model can be defined as a five-level scale to depict how mature is your analytics strategy and data.
The high end of the BI maturity model has a Chief Data Officer (CDO) or someone else in charge to wrangle the data. Data is accessible, relevant, fresh, and organised as data sources are efficiently connected to a business intelligence software program.
[Business Intelligence Competency Center (BICC), ACE (Analytics Centers of Excellence), CDO (Chief Data Officer), and CAO (Chief Analytics Officer)]
On the other hand, the low end of the BI maturity model depicts that data is scattered across disconnected, different documents and spreadsheets. No one is in charge of data governance.
When properly planned and deployed, business intelligence is more than just a reporting tool that can:
Help your organisation define as well as redefine strategies based on analytics results (for instance, the review of initial goals vs. actual performance).
Create and nurture a performance-oriented culture throughout the organisation while defining accountability at the level of every role and responsibility.
Improve services to internal customers and cut down the cost of offering these services.
Drive the profitability potential of an organisation in the commercial sector.
Enable an unbiased, purposeful assessment of the strengths and weaknesses of an organisation based on its performance data.
Enable an organisation to maintain consistency and quality in its deliverables (products and/or services) with end results measured against performance goals.
Provide the ability to accurately assess the performance of an organisation in vital areas as compared to stated goals while enabling preventive and corrective actions proactively to adjust for the variances.
Find out how you can add Power BI dashboards to Microsoft Dynamics 365 or integrate the primary Business Intelligence tool for Microsoft Dynamics 365 for Finance and Operations. Call us at C.I.G Consultants now!
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