Business Intelligence Can Deliver Efficiency

Efficiency is the foundation for every successful business. In fact, many would argue that efficient business is the only good business. Those sentiments haven’t always been the prevailing opinion, but as costs continue to rise for the business owner, finding ways to mitigate revenue losses is paramount to sustaining any semblance of a successful business. Because so many people depend on the average business, it has become essential for businesses to work diligently to enter the information age. It can be perceived as a negative by the people you depend on. How can you make BI work for your business without alienating your staff?

Efficiency is the foundation for every successful business. In fact, many would argue that efficient business is the only good business. Those sentiments haven’t always been the prevailing opinion, but as costs continue to rise for the business owner, finding ways to mitigate revenue losses is paramount to sustaining any semblance of a successful business. Because so many people depend on the average business, it has become essential for businesses to work diligently to enter the information age. It can be perceived as a negative by the people you depend on. How can you make BI work for your business without alienating your staff?

First, there needs to be some background. Today, running a small business is harder than ever. With all the mandates that have to be met, all the time and money that has to be spent just to get a product or service off the ground, it is frankly impossible to expect the modern business to be able to implement new solutions without a hitch. Thankfully, a process called business intelligence can alleviate some of the issues of a new solution implementation by allowing your organization to accurately measure productivity and efficiency.

Business intelligence can be referred to as the practices and technology used to analyze information in order to make educated decisions regarding your business. Business intelligence has always been around in some way, shape, or form, but it has grown more sophisticated over the years. Organizations would find new solutions and procedures that could be implemented to achieve greater and loftier goals, all without sacrificing efficiency or productivity. After all, there are many people who rely on your business to function properly, and the better it is able to do so, the more everyone stands to gain from it--be it an employee just trying to get their work done, or a client hoping to get the best service possible from your organization.

Modern business intelligence practices include analyzing large amounts of data that each business creates to identify the best decisions possible for the future of the organization. This works by examining data stored in various databases. The problem is that a singular database might not give you exactly what you need to accomplish your goals. In order to get the best results from business intelligence, you can use a process called data warehousing to link all information possible together in one location. Once you have this at your disposal, you can use an enterprise-level business intelligence software to sift through the data and identify important information. This information is then organized into reports that you can easily read and learn from.

The great part about business intelligence software is that it can be used to create customized definitions to get exactly the type of information you want from your reports. This software can return detailed analyses specific to your industry--whether you run a general store, a manufacturing factory, or a high-volume restaurant. Armed with this information, you can make the best decisions for your business pushing forward. The metrics provided by business intelligence software can assist with improving operations, marketing, distribution, and any other part of running your business that relies on numbers.

SMBs continue to innovate with their use of enterprise-level technology solutions, with some using it to close the gap between themselves and their larger competitors. A business intelligence system is only one way that you can use to learn more about the company you run and the future you want to build for it. Instead of making guesses as to where you want to be in the next five or ten years, take an educated approach to a business intelligence solution.

Does your business want to improve operations and increase the efficiency of its technology infrastructure? If so, k_Street Consulting, LLC can help. To learn more about how we can make your technology work for you, reach out to us at (202) 640-2737.