How to save money while growing your business – BI is the answer
When thinking about Business Intelligence (BI) for reporting the first thing that comes to mind is, do I need BI for my business and, if so, what sort of BI system do I need? BI is a buzz word at the moment, but does anyone know what it really means?
In short, the higher up the chain of command chain you are, the less you have in respect of stable, documented and sustainable systems to support your information needs. Junior staff normally have great ERP systems that give them everything they need for their job, whereas senior management tend to rely on a multitude of manually-produced spreadsheets that rely on the employed individual skill sets.
Most companies out there still manually extract data out of their systems, dump them into Excel and then start the tedious task of producing meaningful reports and analysis from this data. This is always undocumented and is prone to errors due to formulas and data changes and, worst still, it is normally out of date by the time it is completed. This often starts as a one person’s initiative in analysing something important and then becomes a weekly (or daily) requirement by management, much to their horror.
At the end of the day, how do you know if it’s accurate? How do you measure that? By getting ‘real-time’ access to live data, not something that’s a few days or a week old, it’s about getting the information then and there. It is very crucial for high level executives to make critical decisions with live information.
Business intelligence is a transformation of raw data into meaning and useful information for business analysis purposes aimed at senior management to enable them to properly, and timeously, use that data to strategically make business decisions.
In many cases, senior management do not even realise the cost of getting this data. Let’s assume you have 5 power-users of Excel who spend 60% of their time in getting these reports out. This is not an unrealistic assumption, as maintaining these reports so that they are reasonably accurate is sometimes a major exercise and you often have a number of people working with exactly the same data for different people in the business. Unfortunately, due to numerous factors, the end results do not always balance back to each other. On the assumption of these 5 power-users, this is costing you over $250k pa for data that is often late and inaccurate. In addition, one unknown factor is the nutrition rate of staff frustrated by their jobs which is a very costly consequence. By having the right BI tool these costs could reduce to a fraction of what it is currently costing you. If you want to stay ahead of the game and reduce costs at the same time, you really can’t afford not to have it.
So, how could we help you get started? We at BI Systems Solutions provide a complete business intelligence service for your organisation.
Being a small or medium sized business doesn’t mean you can’t operate with the same capabilities as the bigger players in your market. We can tailor a solution that will provide the information you need in a way that’s easy, integrated and decisive. It is very important to us that you get the information you need at the right time.
We deliver a complete business intelligence solution resulting in improved analysis, strategy and operational management. What’s more, it can be designed to extrapolate the information you want, delivering business intelligence that is flexible, functional and dynamic to grow with your business. This can include any combination of data warehousing for big or small data, live data in Excel and all the graphical and table analysis you may require and all of this can be cloud based, if required. In short, a complete package to satisfy the needs of any business, big or small.
Now, let’s get you started with our Free Tailored Proof of Concept.
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