How analytical systems support decision making
Posted: Thu Dec 26, 2024 3:57 am
Every day, managers are faced with the need to make choices that can have an impact on the future of the company and the lives of its employees. While a good decision at the right time can determine the success of a business, a bad strategic choice can, on the contrary, jeopardize all the work developed by the organization over the years.
So, when it comes time to make decisions, relying solely on your intuition or hunches is a huge risk that is no longer worth taking. Today, there are Business Intelligence (BI) solutions that allow you to gain in-depth knowledge of your business and help you make informed decisions. Learn how to put business information to work for more solid and efficient management.
What is Business Intelligence?
In general terms, Business Intelligence is a set of measures, techniques and iran whatsapp number database that allow access to and analysis of data within a company. The major challenge is to extract value from the data collected, transforming it into relevant information that can support decision-making and improve company performance.
To achieve this, it is essential to use robust technological solutions that are capable of collecting, organizing, analyzing and monitoring a large amount of data. Through powerful analytical tools, these systems process complex information and present it in a simple and visually appealing way to leaders and decision-makers.
In addition to increasing knowledge within the organization itself, this information constitutes a huge competitive advantage for companies that know how to take advantage of it.
What is it for?
Business Intelligence solutions collect and analyse data from various sources (platforms, systems or applications), transforming it into information of enormous value for strategic, tactical and operational management. This information is presented through dashboards and graphs, which allow you to have a complete overview of your business in just a few seconds. With the support of accurate and reliable data, it is possible to make decisions based on facts, more quickly and accurately.
Measures company performance and anticipates the future
Using different metrics and key indicators, also known as KPIs ( Key Performance Indicators ), Business Intelligence systems measure the performance of organizational processes and evaluate the company's results , allowing managers to check whether strategic objectives are being achieved or, on the contrary, whether they fall short of expectations.
By analyzing vast amounts of data, these systems can also establish patterns and detect trends. This means that, in addition to monitoring what is being done at the moment, BI solutions provide companies with predictive capabilities . By enabling the input of forecasting data, predictive algorithms and other forecasting techniques, these systems add competitive intelligence to your business and allow you to make decisions ahead of time.
Why invest in BI in my company?
BI solutions help you see your business from different perspectives , analyzing what happened in the past, what is happening now and anticipating what might happen in the future.
The set of analyses available allows you to act strategically , taking safer steps aligned with the established goals and objectives. The analytical tools help you identify where the flaws are, which processes need to be adjusted and make the necessary corrections in a timely manner. This way, you will be avoiding unnecessary costs and reducing the risks to which the company may eventually be exposed .
Through an analytical system that aggregates and correlates data, it becomes possible to discover the business opportunities that are hidden behind the numbers. The ability to establish patterns, highlight trends and make predictions gives companies that use BI solutions a competitive advantage over all others.
See here the example of Europalco, the largest national event production company, which optimized its results with the decision support solution, PRIMAVERA Business Analytics.
So, when it comes time to make decisions, relying solely on your intuition or hunches is a huge risk that is no longer worth taking. Today, there are Business Intelligence (BI) solutions that allow you to gain in-depth knowledge of your business and help you make informed decisions. Learn how to put business information to work for more solid and efficient management.
What is Business Intelligence?
In general terms, Business Intelligence is a set of measures, techniques and iran whatsapp number database that allow access to and analysis of data within a company. The major challenge is to extract value from the data collected, transforming it into relevant information that can support decision-making and improve company performance.
To achieve this, it is essential to use robust technological solutions that are capable of collecting, organizing, analyzing and monitoring a large amount of data. Through powerful analytical tools, these systems process complex information and present it in a simple and visually appealing way to leaders and decision-makers.
In addition to increasing knowledge within the organization itself, this information constitutes a huge competitive advantage for companies that know how to take advantage of it.
What is it for?
Business Intelligence solutions collect and analyse data from various sources (platforms, systems or applications), transforming it into information of enormous value for strategic, tactical and operational management. This information is presented through dashboards and graphs, which allow you to have a complete overview of your business in just a few seconds. With the support of accurate and reliable data, it is possible to make decisions based on facts, more quickly and accurately.
Measures company performance and anticipates the future
Using different metrics and key indicators, also known as KPIs ( Key Performance Indicators ), Business Intelligence systems measure the performance of organizational processes and evaluate the company's results , allowing managers to check whether strategic objectives are being achieved or, on the contrary, whether they fall short of expectations.
By analyzing vast amounts of data, these systems can also establish patterns and detect trends. This means that, in addition to monitoring what is being done at the moment, BI solutions provide companies with predictive capabilities . By enabling the input of forecasting data, predictive algorithms and other forecasting techniques, these systems add competitive intelligence to your business and allow you to make decisions ahead of time.
Why invest in BI in my company?
BI solutions help you see your business from different perspectives , analyzing what happened in the past, what is happening now and anticipating what might happen in the future.
The set of analyses available allows you to act strategically , taking safer steps aligned with the established goals and objectives. The analytical tools help you identify where the flaws are, which processes need to be adjusted and make the necessary corrections in a timely manner. This way, you will be avoiding unnecessary costs and reducing the risks to which the company may eventually be exposed .
Through an analytical system that aggregates and correlates data, it becomes possible to discover the business opportunities that are hidden behind the numbers. The ability to establish patterns, highlight trends and make predictions gives companies that use BI solutions a competitive advantage over all others.
See here the example of Europalco, the largest national event production company, which optimized its results with the decision support solution, PRIMAVERA Business Analytics.