Many companies want to streamline operations and lower costs in a number of areas. But how do you really do it best? Business Intelligence is one of the answers, and this article takes a closer look at how to save a lot of money by using BI.
Maybe you’ve heard of Business Intelligence, abbreviated BI, but don’t quite know what that means. In short, it is about providing the company with information that may be relevant to the operation, control or other things in the company. In other words, it is about using data to possibly optimize some things and thus improve the company’s earnings or lower costs.
Read more about BI by clicking here.
How to use it
BI takes place so that companies gather more and more information about themselves. It can be about the way things are built up, how fast there will be work in the different departments, or how much wasted time there is in the different areas. In other words, the company is getting to know itself better with the help of a lot of data. You can use it in many ways, and here we take a closer look at some of them.
Use your knowledge
There is no doubt that when talking about financial issues, knowledge is equal to money. Financial systems, which companies are increasingly using, provide the opportunity to utilize a wide range of data that can make a big difference in the company. However, many people do not take advantage of these opportunities, and valuable knowledge is wasted.
A rule of thumb is that the more data you have about yourself and your stakeholders, the better you can prepare. As you know, you are a product of your preparation, and you will therefore be better able to deliver the product if you use the right tool such as Microsoft SQL. Therefore, always remember that you should use your data and keep track of it. Prioritize picking up all the data you are given the opportunity.
High quality Data
Of course, you also need to focus on your data being of the highest possible quality. If you make decisions based on your data, it is crucial that there are no errors in this and you should of course ensure this quality. Making decisions based on your incorrect data can have major consequences for other parts of your business.
You have a say in whether your data is good. Therefore, keep track of whether you divide your customers, departments or something else into the right groups, so that there are real bases for comparison. Also remember that you need to clean up your data so that it all does not merge.
Know your customers
Absolutely crucial when talking about data, it is that you know your customers in the best possible way. Therefore, focus on collecting plenty of data about your target groups, so you know as much as possible about the customers you need to deliver the goods to.
In addition, make sure that your customers also deliver the goods to you. Here, data can also help you to know if they have paid on time, for example.
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Save money using Business Intelligence
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Many companies want to streamline operations and lower costs in a number of areas. But how do you really do it best? Business Intelligence is one of the answers, and this article looks…
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IT-Artikler. dk
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Written d. 16 May 2017 – No comments
