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Generates Reports Quickly.
There are multiple departments and processes in an organization. Thus data is scattered across the organization in various formats. Lot of effort is required to gather the data, cleanse it and convert it into desirable format for analysis purposes. An advanced business intelligence tool eradicates all the issues and minimizes the time to generate critical reports.
In business, decisions have a shelf life. The potency of the outcome is lost if the decisions are not taken at the right time. Haywire processes delays report generation for analysis purposes that in turn delays the decisions. Decision makers can use advanced business intelligence tools to generate report in less time, analyze it and take right decisions at the right time.
Preparing reports requires less expertise.
You need an expert to clean up the information and convert it in the right format for analysis purposes if you are using traditional BI tools. Business users often face issues due to this as it delays critical decisions. The advanced BI tool enables non-technical users to generate detailed reports on the fly with little training. Generating reports is as simple as just a drag and drop of graphical objects.
Can be Connected to multiple data sources.
Most of the time, traditional BI tools connect with one data source or at most two to three data sources. They are local data agnostic but lack efficiency when it comes to external data coming from web and other platforms. However, the advanced business intelligence tools seamlessly connect with multiple data sources. This way, it becomes simple to associate common data points and avoid duplication.
In-depth analysis and drill down capabilities:
One important aspect every decision-maker would like to see is, to slice and dice the data to analyze various trends across different parameters. Many of the technologies do not have this kind of feature. For example, there is one Organization with presence across many Countries, many Cities and many Locations. If a VP wants to check the ‘Payroll Cost’ in all the above aspects, they need to manually select the same in different tables. The technology may not have the feature to show ‘Payroll Cost’ for Countries, Cities and Locations with a single click of a button. The advanced BI Tools have the capability to capture the data to the minutest level of detail, with, drill-down capabilities. The user can get a high-level view of the data, also the lowest level of detail to find out the trends & patterns, in a quick and easy manner.
The advanced BI Tools help in identifying the areas where the Organization/Branch/Location/Department is excelling and the areas where it needs to improve. This in turn results in bringing the operating efficiencies, cost efficiencies, productivity efficiencies and many other efficiencies. According to the CIO website, in 2000 “with the help of business intelligence tools, Toyota realized it had been double-paying its shippers to the tune of $812,000.” “Stephens Inc. was able to reduce their Payroll process time by 50% using business intelligence.”
The advanced BI Tools not only help in analyzing the current information, but also helps in plotting the historical trends, and predicting the future trends and values. This is quite helpful for industries across domains. With the forecasting capabilities, the management personnel can take the appropriate action to be ahead of the curve, and also maintain an edge over their competitors. With this, the Organizations can move away from reactive mode to proactive mode.
For more details on how one can simplify predictive analysis using modern BI tools, refer:
Eliminates the need for additional manpower:
With the growing need of Analysis on a regular basis, Organizations need to maintain additional staff to generate the reports using the traditional tools. This will add to the manpower cost. However, with the automation of data collection, and report generation process using the BI tools, there will be no need to add manpower for generating reports. The reports can be generated with much ease by the existing end-users. In fact, the advanced analytics will help identify ways to improve processes which will further help the resources free up time from their tedious day-to-day tasks and find time to handle new operations.
A picture, they say, is worth a thousand words. Instead of the age-old piles of standard reports, the visualizations used by the advanced BI Tools enhance the nature of the data with the usage of graphs, charts and gauges. The graphical interface makes the life easy by finding out the trends, patterns, relationships and outliers, by just looking at the visualizations. Modern day BI tools also come with the features, which enable the access to the Reports on any device, anytime and anywhere.
Implementation Head – BI Practice
Jagan, a Project Management Professional (PMP) and Six-Sigma Green Belt Certified Professional, has over 17 years of experience in leading teams, and providing process improvement ideas to Business users. His business acumen and strong expertise in understanding the processes helped the Clients with significant productivity and cost savings over the years. Currently, Jagan is working on providing Business Intelligence solutions, that enables the Clients for better decision-making, and building efficiency in the overall process.