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As the applications, tools, and software become more affordable, the introduction of self-service BI has made profound analysis more user-friendly, enabling everyone on the team to participate.
FREMONT, CA: It is imperative that companies focus their efforts on managing and analysing data with the help of business intelligence (BI), as the volume of business data is escalating continually. Businesses can use BI to predict future events, get insights from past performance, and get ahead of potential obstacles. The investment in and exploitation of the tools that produce quality insights has expanded widely regardless of the economic cycle. The use of tools has accelerated as enterprises are increasingly seeking data to manage, grow, and improve their businesses.
Solve Crucial Questions Faster
Asking for a critical KPI and waiting for hours or busy IT departments to pull the report is no longer practical. Self-service business tools (SSBI) put users in charge of data, facilitating rapid access for real-time analysis and immediately actionable insights, helping teams gain a competitive advantage.
Amalgamate Multiple Data Sources
Comprehensive business intelligence requires combining multiple data sources and performing cross-database queries. The user-friendly SSBI setup will help to aggregate and analyse every type of available data in a single place, from online to offline data.
When data access is unachievable, companies often shortcut their data management processes to receive instant answers. Excel is one of the most commonly used go-to tools for shortcuts. Although excel is not a BI tool, it is intriguing to rely on spreadsheets for workflow from familiarity. Depending on Excel is a challenging proposition as it requires a considerable amount of manual data entry, resulting in the possibility of errors, specifically when spreadsheets are passed across organisations. With the new generation of self-service BI tools, data analysis confined to spreadsheets has become an adequate solution.
Self-service BI tools provide information for everyone involved in a project in an easy-to-share format. Therefore, it eliminated the need for the entire team to rely on a data analyst poring over spreadsheets looking for clues to improve services. Moreover, SSBI makes the decision-making process more inclusive as all team members can easily access the same data. This puts everyone involved in the decision-making process on the same page, enabling everyone an equal opportunity to showcase their talents to customers.
Mobile is Essential
BI also refers to the possession of the right data at the right time to initiate the right calls. It means accessing a company’s data from any place, which requires using a mobile device. Facilitating BI mobile is crucial for businesses to respond to issues in real-time and make informed decisions immediately. Continuous access to dashboards helps the team members to always have the information they require regardless of their locations.
Free Up the IT Department
Old data brings the IT department to clean up data to make it functional, impacting how timelines are delivered. When viewed across industries, only a small percentage of users get their reports within a day or three of the initial request. A day's delay could make the initial inquiry irrelevant, given the fast-paced nature of today's business environment.