Why Does My Company Need a Business Intelligence Solution?
Business intelligence solutions unlock silos in your business and bring your data together to deliver meaningful insights and drive impactful business decisions.
With the amount of data stored by companies growing exponentially, business intelligence (BI) grows ever more critical as organizations need to translate that data into meaningful insights that will support future growth and strategies.
As BI software has advanced, deployment, licensing, and support options have made it more accessible for organizations of all sizes. Virtually every business can benefit from BI. Specific issues or scenarios that are good indicators a BI discussion should take place include:
The need to integrate data from multiple business applications or data sources
Lack of visibility into the company’s operations, finances, and other areas
The need to access relevant business data quickly and efficiently
Increasing volume of users requiring and accessing information and more end-users requiring analytical capabilities
Rapid company growth or a recent or pending merger/acquisition
Introduction of new products
Upgrades within the IT environment
There are several benefits a BI solution offers to an organization regardless of size:
✅ Share information efficiently and effectively across your organization
BI makes it easy for everyone – from decision-makers to functional teams – to access and analyze up-to-date information anytime, anywhere. Everyone throughout the company can make better decisions faster.
✅ Empower your people
Providing employees with access to analytical data that is readily available and understandable allows them to work more effectively and support the overall business strategy.
✅ Simplify collaboration and improve alignment with a single source for accurate financial and operational information
A single, central location allows you to monitor your key performance indicators (KPIs), access reports, analyze your data, and share documents. Functional areas can align to articulate strategies, set objectives, and monitor the organization’s performance so you can make better informed and timely strategic decisions.
✅ Deliver meaningful analysis and reporting
Readily track and analyze KPIs against key business goals to better understand how your business is performing today and not when it’s too late to impact performance.
✅ Have a solution with the scalability and flexibility to grow and change as your organization does
Most companies still store their valuable data in services or massive Excel spreadsheets. While Excel has many useful features, it doesn’t scale to your business, but it doesn’t scale to your business and compiling data from multiple, disparate databases is time-consuming and is prone to errors.
With Microsoft’s Power BI – a cloud-based, self-service business intelligence solution – you have a tool that can scale and grow with your business. It allows you to consolidate and analyze data from different sources, combining them into reports and dashboards to illuminate what’s happening in your business. If you’re familiar with Excel, then the BI learning curve is a snap.
If you're debating between using Excel or Power BI, or both, check out our blog post on the topic: Power BI or Excel: Which Should You Use?
Power BI: The Bridge between Data and Decisions
Part of the Microsoft Power Platform toolset, Power BI is a cloud-based platform for self-service and enterprise business intelligence.
Microsoft Power BI combines an intuitive user experience with intelligent data visualizations and allows organizations to transform, shape and merge their data – from multiple systems or data sources – into compelling and interactive reports to provide greater depth of data insight.
With today’s unpredictable markets, organizations must prioritize a data-driven and think more carefully about decisions at all levels. By leveraging Power BI, businesses can:
Have a unified view of all business data imported from any source online or on-premises, with a library of over 500+ connectors
Analyze and visualize data through interactive reports and dashboards that can be drilled down into
Securely access reports from any location on any device
Streamline collaboration and easily share information across the organization within Microsoft productivity tools like Team and SharePoint
Make informed data-driven business decisions with confidence
Not to mention, here are 11 more top benefits of Microsoft Power BI for your small or mid-sized business.
Get Started with a Microsoft Power BI Partner
Ready to maximize the value of your technology investments and turn your data into meaningful insights that impact your bottom line?
Book a free consultation with the Kwixand Solutions team to learn more about Power BI and how it can unlock silos in your business and bring your data together to deliver meaningful insights and drive impactful business decisions. We are a Microsoft Power BI Partner and Dynamics 365 Partner based in Vancouver, Canada, and help businesses across North America digitally transform and streamline operations.