Question

Explain some of the benefits of adapting Business Intelligence Systems in an organization? Include some examples on how this would be effective for your organization.

Answer 1

Business intelligence (BI) systems collect and synthesize data present and stored in disparate systems and then generate meaningful insights from the data by analyzing it, which can then be converted into actions by the business managers. The main benefits of the BI tools are as follows:

1. Better quality of data
2. Improved sales productivity
3. Quality business decisions based on data
4. Faster project implementations due to better insights and learning from past business data
5. Competitive intelligence due to better understanding of market forces shaping up the demand signals.

The way in which my organization can use BI tools is to analyze data from the different systems like enterprise resources planning, Customer relationship Management etc. This analysis can then be used as an insight to generated better quality leads for account growth. These insights can be in terms of particular accounts spending more during a particular period. Sales team as an action item can then use this information. Sales team can then hunt for more investment and revenue from the particular account leading to growth and better productivity.