What Is Business Intelligence Anyway?

Business Intelligence is not one single piece of software, but instead, it is an umbrella term that includes best business practices, software, infrastructure and any other tools that help optimize decision making and enhance performance.

When it comes down to it, business intelligence is about information analysis. A database pulls together information from the different parts of your business, then applications convert that raw data into reports, charts, and other analytical tools to provide insight. Business Intelligence can be applied to see how well sales efforts are going, to help assess the efficiency of manufacturing processes, to measure staff performance, and pretty much to analyze any aspect of your business.

Business intelligence provides a spectrum of broad range analytical applications. The technology is not just about gathering intelligence but about making sense of data in a way that can be quickly grasped. This is done through visualization applications for creating infographics and designing charts. Business Intelligence also offers dashboards and performance scorecards. Information is displayed in this way because key performance indicators and business metrics are much easier to understand when displayed as visualized data.

Business intelligence allows businesses to make better decisions by accessing big data, and cloud computing has leveled the playing field. Even small companies that don’t accumulate a large volume of data can derive considerable benefits from better analytics. Initially, only large businesses could afford the cost of using Business Intelligence software because of the cost of the software itself and the infrastructure to run it on. Today, even small firms with sales under $100,000 a year, can use and benefit from Business Intelligence.

Whether you are looking for a BI consultant that will take you through the entire Business Intelligence process, or you just need help project by project, SPIN can help!

The experts at SPIN know what it takes to make BI work for your business. From developing a concise and proactive BI strategy to delivering a proven solution, we can address the full range of your businesses’ needs. Contact us to get started today!

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