The Effects of using Business Intelligence Systems

Objectives of Business Intelligence

In business, it is important to have sufficient, high-quality information and key performance indicators (KPIs) as the basis for decisions. The biggest problem, however, is primarily the merging of information. Many documents, spreadsheets or databases hide inside companies and contain a lot of relevant information that is very difficult to merge and provide meaningful information. So, an overall holistic view is to be created, which is available as a basis for decisions. Therefore, it is possible, for example, optimize business processes, minimize risks, reduce costs, increase added value. Also, the use of BI can become a real competitive advantage, since the necessary information is practically available at the click of a mouse. Using Business Intelligence has three main objectives.

Improvement of decision basis: The decisions to be taken are usually made by available information. Thus, it is obvious that with better preparation of information as well as with the consideration of a multiplicity of information the basis of the decision is substantially improved. Information, that is, facts about certain things, is present in large scale in today's businesses. The use of BI makes it possible to translate them into a format that gives them an information advantage in their daily work.

Increasing the transparency of corporate actions: With the help of BI, the employee should be enabled to take responsibility for his area through facts and operating numbers and to be able to understand company decisions. BI provides the opportunity to enhance that visibility and empowers employees to see the impact of their area directly in the context of the enterprise as a whole.

Demonstrate the relationships between solitary information: Due to the complexity of business processes, decisions in many areas of companies have far-reaching consequences. The BI solutions' aim to link data from different sources and to recognize relationships that cannot be obtained from the individually considered sources of information. This is the knowledge component of BI, which should be carried out by absolute professionals in the relevant field, as generating such information increases the transparency of the entire process within companies.