What is Business Intelligence? And Why You Desperately Need It.

Without the right intelligence, you’re flying blind.

While in the past, some companies could get away with mismanaging inventory, ignoring signals of customer dissatisfaction, or avoiding sales-crippling trends, they no longer can – and survive.

Of course, collecting the data is not the problem. Thanks to a wide variety of online and offline sources, you have data coming out of your ears. The key is doing something with it once you have it.

If you do nothing, you’re being negligent in leveraging it to benefit your companies and your customers. Using it to help make better decisions and delighting your customers is the ultimate goal of business intelligence.

Business intelligence is the strategies, processes, and tactics that takes collected information and organizes, mines, and communicates it to help companies make smarter decisions, both for today and tomorrow. It empowers leaders to discover trends, spot weaknesses, and seize opportunities.

Organizations of all sizes can and should prioritize business intelligence. Being “small” is no excuse. There are tools available to help you make the most of your data, regardless of the size of your bank account. Two we recommend to our clients are Tableau and Microsoft Power BI.

So why should you invest in business intelligence?

  • You’ll monitor trends and seize them to grow your business
  • You’ll adapt to changes in market conditions
  • You’ll improve your leadership’s decision-making at all levels
  • Your reporting will be both fast and more accurate
  • Your efficiency will Increase
  • You’ll position your staff for success by empowering them to reduce costs
  • Your attention will be on the facts, not opinions
  • You’ll stay ahead of your competitors
  • You’ll lower your costs
  • You’ll increase your revenues
  • You’ll provide a better, more personalized, and more remarkable customer experience

What happens if you don’t?

  • You’ll be passed by your competition – who is taking business information seriously
  • You’ll suffer from leaks in your systems that remain unidentified
  • You won’t manage your inventory well due to unexpected under, or overstocks
  • You’ll continue to pay for ineffective and expensive reporting
  • You’ll waste resources on testing, when your data could provide the information you need
  • You won’t be able to react quickly
  • You’ll deliver a slower, less personalized, and less exciting experience to your customers

So choose wisely. And remember that regardless of the tools you use, they’re worthless without a proper strategy.

Strategy first. Resources next.

What Next?

Commerce is only speeding up. Your customers are expecting more. And your competitors are fighting to get ahead of you. It’s your data. Use it to make your business all that you dreamed it would be.

And let us help. With strategy. With execution.

The team at Emory Solutions will be your data experts and set you up for success. Reach out today in the form below to learn how we can partner with you.

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