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7 reasons to purchase a business intelligence solution

7 reasons to purchase a business intelligence solution

Thursday 08 January 2015
Author: David Gilbert

We’ve looked over the history, technology, advantages and key functionality available in today’s dashboard solutions. Now, here are our top seven business benefits...

We’ve looked over the history, technology, advantages and key functionality available in today’s dashboard solutions. Now, here are our top seven business benefits.

1)   View key data 24:7

If you work from home, are always in meetings or on the move, then business intelligence dashboards could be the answer to your prayers. Choose a multi- platform webbased solution compatible across all browsers and you’ll be able to view meaningful data anytime, anywhere in the world.

2) Get a complete view   

Good dashboard software can provide a view of multiple databases from many vendors such as Oracle, Microsoft Access and Microsoft SQL Server as well as flat files like Excel. A truly cross-functional solution enables you to combine multiple sources into single charts to allow comparisons, for example, between CRM and sales data – something that might otherwise take hours of work to achieve. 

3) Make better-informed decisions

Using real-time information dashboards condense huge amounts of complex information into intuitive formats, making it easy to grasp complex relationships that might otherwise remain buried. And because the information can be real- time (when you view a chart you are viewing the data as it exists precisely at the time you selected that chart), you have a live picture at your fingertips –essential for good decision-making.

4) Review and improve performance

Good dashboard software lets you track KPIs over time using an in-built scheduler. You specify when and how you want to track any measure and what comparisons you wish to draw to determine trends, and the system will show you, at-a-glance, whether performance is improving/declining and how quickly this is changing.

5) Reduce burden on IT

With your personalised set of dashboard reports, you could have the information you’re looking for in the time it takes to email your request to your IT department. This saves waiting, reduces internal pile-ups and increases efficiency – not to mention your reputation as a doer!

6) Motivate your staff

Dashboard software provides a framework for team working, enabling your staff to see how they play a part in achieving business goals. For example, teams can be allocated specific KPIs (sales of a specific product, marketing leads) and their progress monitored via a ‘KPI tree’. Nodes within the tree are fully configurable to your chosen structure, representing for example, employees, teams and departments.

7) Support key stakeholders

It’s easy to share critical data with colleagues, stakeholders and customers. Dashboard charts can be opened up to intranets, extranets and public web sites to allow anyone to view the chart without needing to log in. This provides you with an ideal way to engage with a wider audience, for example, a dashboard chart showing a rolling total of outstanding calls could be used to backup your customer service pledge. Charities, for example, might choose to let stakeholders track income by source from affiliates around the country/world via a drillable ‘map’. The possibilities are endless

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