2. The Business Can Preserve Data and Test Possible Future Outcomes
The greatest advantage of business analytics tools is the ability to integrate, preserve and sift through constant data streams for future reference. With BI, businesses can track key metrics for analysis and decide on future actions.
Business intelligence, though, goes beyond just mere data tracking and analytics. It gives any enterprise the opportunity to effect and test changes in a controlled environment before jumping in, and decide if the exercise was successful or not based on the data metrics collected.
BI software can predict the results of business action (and inaction) and make future suggestions thanks to prescriptive analytics based on historical data and past trends. The only way to do this is to store enough data. A cloud-based BI software enables powerful data storage.
3. Business Growth Relies on Powerful Data-driven Insights
Business Intelligence tools act as a strong catalyst for business growth and future performance. The enterprise does not have to rely solely on gut decisions, courage and leadership abilities to pave its way forward.
A cloud-based BI app will integrate all previous and current data from a variety of sources in one system capable of identifying market trends, key relationships, vital statistics and most likely scenarios conducive to growth.
Data-driven insights supplement subjective decisions, minimising as best as possible unfortunate situations with disastrous consequences for the enterprise. BI adds responsibility, trust and reliability without taking over the human decisional element.
Go from data to insights in minutes with STRATEGIX and Power BI.
Power BI a business intelligence tool that brings all your business-critical data in one central system for quick organising, analysing and reporting. Experience any data, in any way you want, anywhere. And all in one view.