Decision Making and BI Reporting—what’s the connection?

Too many a times we see businessperson taking a decision and then crediting it to their “gut feelings”. However, if you think about it, should a gut feeling be trusted in matters of taking important, business decisions? As a matter of fact, should any feeling be considered for this purpose? The answer is no, for decisions need to be taken on the back of sound data and intelligence. Here’s how BI reporting can help you achieve just that:

Different Forms of Data

It’s true that pictures are worth a thousand words. So, when you’re talking about reporting, it is one thing to read the month-on-month sales reports, but it’s another to see them. What do I mean by that? Well, wouldn’t it be convenient to look at the month-on-month sales reports in the form of a line graph, where you are able to spot points of interest, instantly? Only when data is in the correct format can the important insights be extracted from it and that’s exactly what BI reporting does: it converts into any format that you might want at the click of a button so that you might be able to take the correct decision based on a sound insight!

Data Integration

Decisions need to be based on the right pieces of information, right? But what do you do not have much knowledge of the matter under consideration? Are you supposed to send in a query and wait for a few days? Well, you would…if it wasn’t for Business Intelligence. BI gives the user access to all kinds of information that might be available on a variety of platforms. What this means is that you’ll be able to take the right decision regardless of the data source.

Analytical Predictions

It’s one thing to make predictions on your own, but it’s another to do it using the complex power of math, right? Business Intelligence tools have access to the historical data and high-end algorithms, the ultimate purpose of which is to empower the user to make such predictions that might not have been made otherwise. When you consider the fact that at the heart of these predictions is reliable information, you’ve got to say that such predictions will serve to make the business proactive, at least. From expected revenue to expected sales, not only can BI predict faster than an average person would but it also removes the chances of human biases and errors, serving for more accurate predictions.

Doing It on the Go

If the nature of your business is such that your employees are constantly on the move then they’ll need to have access to the right charts and dashboards—which they’d have on their computers—if they’re to make the right calls at various occasions of the day. Business Intelligence can do that for your businesses, ensuring that your employees will have access to information wherever they might be!

Decision making is, perhaps, the most important part of any businessperson’s job, owing to the fact that it decides the direction in which the business will be heading. It’s important, therefore, for these business decisions to be as informed as possible. If you’re seeking advice on how Business Intelligence reporting can help you in taking better decisions, you can contact iDeskHub to take care of your problems!


Author Ideskhub

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