5 signs your company needs to use a BI Tool
Updated: Oct 5, 2020
“Your business will be shooting in the dark without clear insights!”
Let me clarify this for you once and for all, literally any company, no matter how big or small it is, can afford Business Intelligence that can meet its business needs. But wait, you will probably ask why on earth you would need BI?
Let me explain:
1. The more the data, the less the information
Collecting data is easy-breezy. But you might find yourself at a point where you have collected all the data from all over the world (kidding, just your company data) and now wonder what’s next. You are at a point, where the data you have collected makes no sense to you and you’re not certain which of the data can be helpful in your business improvement or else, you may be confused about how your data can serve you the best to improve your business. Tons of raw data is nothing if it can’t be useful enough to identify your business problems and extract business insights.
But you can overcome these challenges with the help of a BI solution that will be there for you to help you sort out your data and improve your business processes in the best possible way.
2. Excel is your one and only savior
Trusting Excel to do more than the poor tool can handle, is aggressive, and definitely not the best decision ever made, especially when you have another great choice in front of you. Excel is, without a doubt, one of the oldest and greatest tools to store your data. So many people have trusted Excel in their lifetimes. It is flexible, and its capacities look limitless, but in the growing business world, the tons of the data collected, will soon make Excel too slow to properly handle your data and it will end up failing your initial expectations. Sometimes, the working process involves many employees making manual edits and changes on the same file and sharing it with other colleagues. This will lead to a complete loss of the accuracy and the track of the changes made. BI solution will update your data for all the employees at the same time with a few scaling solutions.
3. You’re manually handling a bunch of data sources
The bigger the company, the larger the number of data sources are! And various sources mean various systems, which makes the process of data collection really complex making you feel as if you live in a nightmare until you give up. You may be wasting your time making huge efforts to create the necessary tools that will help you do something useful out of your data.
With BI tools, your employees will not have to waste their precious time handling various data resources manually, when with BI they can have the most accurate data with ease and in no time. And that’s true. What your staff accomplishes within days or weeks (if lucky enough), a BI solution does it in minutes. So do not fear to change your old systems and old ways of handling your data. The change is worth it, and the reward you receive from BI will be unmatched and incomparable.
4. Your gut helps you in decision making
Your sixth sense tells you that your company should be improving, meanwhile, you have no clue and have no idea how exactly it should be improving. And what you do. You ask your gut- feelings to help you.
Surprisingly, gut-based decisions can be accurate, though they are never precise! Decision making is an important factor in Business since it can either make it or break it. And groundless guesses and decisions can do huge harm to your business and cause you a mass of trouble with the prize being a headache. Let the BI be your gut! Trust it to do the job for you!
BI reports will let you control your data through changing, adding, and filtering your information.
5. You hate competitions cause you don’t seem to win
People are basically in business in order to make money, and you wouldn’t probably like it when your competitors are a step ahead of you. Sometimes, you will even notice that you are losing old customers and can’t close new deals because your competitors can offer faster times to close (TTCs) on service tickets and more? If you notice that your competitor performs better than you do, then this is a sign that you need a Business Intelligence solution.
The BI solution will help you to stay competitive and more productive. With this tool, you will notice the great changes and good impact immediately, and with a well-implemented solution, you will be able to study your competitor’s activity and act accordingly.
What you can do is to challenge us right now to see how we can help you to get the best BI tool suitable for your own business.