Organizations create, connect and monitor data from growing numbers of sources. From website analytics to accounting and operations systems, and countless other examples, the systems and platforms used to run businesses generate vast amounts of data. They need a way to analyze what they have in order to discover the insights hidden in the raw information. A 2014 IDC study found that companies that maximize the use of their information will capture US $1.6 trillion more in value from their data and analytics investments over the next four years than companies that don’t tap into business intelligence (BI).
Just a few years ago, accessing this information would have likely been the responsibility of specialists who create and manipulate models or prepare reports. But the recent advent of self-service business intelligence tools has created new possibilities for intuitive data exploration and analysis in real-time.
Here are four ways BI can help your organization make smarter decisions:
- Plan for the future—Identify trends as they are happening to optimize strategies for long-term business success.
- Monitor production—Connect to systems that monitor power usage and building activity to help plan for efficiency.
- Track expenses—Get a single pane view to identify outliers and anomalies.
- Store performance—Manage inventory reports with live metrics so you have the full story.
Your current data landscape might seem difficult to navigate, especially when trying to decide whether it’s a good time to expand your enterprise. Fortunately, Power BI can help you visualize your data to reveal what’s been hiding in plain sight, so you can move forward with confidence.
Download the new infographic: Growth: Powered by Business Intelligence to discover more about how Power BI can help you expand.